Synchronoss Technologies Sets New 52-Week High at $45.16 (SNCR)
Synchronoss Technologies (NASDAQ:SNCR)’s share price hit a new 52-week high during trading on Tuesday , ARN reports. The stock traded as high as $45.16 and last traded at $44.75, with a volume of 246,193 shares trading hands. The stock had previously closed at $44.17.
Several analysts have recently commented on the stock. Analysts at Stifel Nicolaus raised their price target on shares of Synchronoss Technologies from $46.00 to $49.00 in a research note on Thursday, July 31st. Separately, analysts at Wedbush raised their price target on shares of Synchronoss Technologies from $45.00 to $50.00 in a research note on Thursday, July 31st. Finally, analysts at Credit Suisse raised their price target on shares of Synchronoss Technologies from $46.00 to $56.00 in a research note on Thursday, July 31st. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $43.67.
The stock’s 50-day moving average is $38.64 and its 200-day moving average is $34.18. The company has a market cap of $1.813 billion and a P/E ratio of 51.12.
Synchronoss Technologies (NASDAQ:SNCR) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.01. The company had revenue of $103.50 million for the quarter, compared to the consensus estimate of $102.22 million. During the same quarter in the previous year, the company posted $0.31 earnings per share. The company’s revenue for the quarter was up 23.6% on a year-over-year basis. Analysts expect that Synchronoss Technologies will post $1.69 EPS for the current fiscal year.
In other Synchronoss Technologies news, President Robert Garcia sold 10,500 shares of the company’s stock on the open market in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $42.74, for a total transaction of $448,770.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Synchronoss Technologies, Inc (NASDAQ:SNCR) is a provider of on-demand transaction management solutions.
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