Shares of Synchronoss Technologies, Inc. (NASDAQ:SNCR) have earned an average rating of “Hold” from the nine analysts that are covering the firm. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $23.00.

Several equities research analysts recently commented on SNCR shares. JPMorgan Chase & Co. started coverage on shares of Synchronoss Technologies in a research report on Wednesday, January 25th. They issued an “overweight” rating and a $65.00 price objective on the stock. Deutsche Bank AG cut shares of Synchronoss Technologies from a “buy” rating to a “hold” rating and cut their price objective for the company from $50.00 to $35.00 in a research report on Thursday, February 9th. Stifel Nicolaus cut their price objective on shares of Synchronoss Technologies from $40.00 to $32.00 and set a “hold” rating on the stock in a research report on Thursday, February 9th. Zacks Investment Research raised shares of Synchronoss Technologies from a “strong sell” rating to a “hold” rating and set a $38.00 price objective on the stock in a research report on Tuesday, February 14th. Finally, Wells Fargo & Co reaffirmed an “outperform” rating and issued a $35.00 price objective (down from $43.00) on shares of Synchronoss Technologies in a research report on Sunday, April 2nd.

In other Synchronoss Technologies news, major shareholder Silver Private Holdings I, Llc purchased 1,357,383 shares of the business’s stock in a transaction on Thursday, May 4th. The shares were purchased at an average cost of $15.89 per share, with a total value of $21,568,815.87. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP David Schuette sold 1,081 shares of the business’s stock in a transaction dated Monday, March 20th. The stock was sold at an average price of $26.25, for a total transaction of $28,376.25. Following the sale, the executive vice president now directly owns 49,093 shares in the company, valued at $1,288,691.25. The disclosure for this sale can be found here. Insiders have sold a total of 14,406 shares of company stock worth $439,241 over the last three months. Insiders own 11.00% of the company’s stock.

Large investors have recently modified their holdings of the company. Municipal Employees Retirement System of Michigan boosted its stake in shares of Synchronoss Technologies by 1.2% in the first quarter. Municipal Employees Retirement System of Michigan now owns 9,630 shares of the software maker’s stock valued at $235,000 after buying an additional 110 shares during the period. State of Alaska Department of Revenue boosted its stake in shares of Synchronoss Technologies by 4.0% in the first quarter. State of Alaska Department of Revenue now owns 4,720 shares of the software maker’s stock valued at $115,000 after buying an additional 180 shares during the period. Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of Synchronoss Technologies by 5.2% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,965 shares of the software maker’s stock valued at $152,000 after buying an additional 197 shares during the period. Texas Permanent School Fund boosted its stake in shares of Synchronoss Technologies by 0.8% in the first quarter. Texas Permanent School Fund now owns 30,973 shares of the software maker’s stock valued at $756,000 after buying an additional 236 shares during the period. Finally, Envestnet Asset Management Inc. boosted its stake in shares of Synchronoss Technologies by 1.6% in the fourth quarter. Envestnet Asset Management Inc. now owns 16,632 shares of the software maker’s stock valued at $636,000 after buying an additional 265 shares during the period. 84.24% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Synchronoss Technologies (NASDAQ:SNCR) traded up 1.01% during mid-day trading on Friday, hitting $13.54. The company had a trading volume of 1,857,913 shares. The firm’s 50-day moving average price is $19.78 and its 200 day moving average price is $32.65. Synchronoss Technologies has a one year low of $11.15 and a one year high of $49.94. The company has a market capitalization of $595.53 million, a P/E ratio of 30.09 and a beta of 2.28.

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Synchronoss Technologies Company Profile

Synchronoss Technologies, Inc is a global software and services company, which provides technologies and services for the mobile transformation of business. The Company’s portfolio in the Consumer and Enterprise markets contains offerings, such as personal cloud, secure-mobility, identity management and scalable messaging platforms, products and solutions.

5 Day Chart for NASDAQ:SNCR

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