Synacor, Inc. (NASDAQ:SYNC) has been assigned an average rating of “Buy” from the nine research firms that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $5.38.

SYNC has been the topic of a number of research reports. Rosenblatt Securities restated a “buy” rating on shares of Synacor in a research note on Thursday, May 11th. Canaccord Genuity restated a “buy” rating and issued a $5.50 price target on shares of Synacor in a research note on Thursday, May 11th. Zacks Investment Research upgraded Synacor from a “hold” rating to a “buy” rating and set a $4.00 price target on the stock in a research note on Wednesday, May 10th. Craig Hallum initiated coverage on Synacor in a research note on Monday, March 27th. They issued a “buy” rating and a $5.00 price target on the stock. Finally, TheStreet downgraded Synacor from a “c-” rating to a “d” rating in a research note on Thursday, May 11th.

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A number of institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp increased its position in Synacor by 0.9% in the first quarter. Bank of New York Mellon Corp now owns 47,048 shares of the information services provider’s stock valued at $195,000 after buying an additional 400 shares during the period. Geode Capital Management LLC increased its position in Synacor by 5.5% in the first quarter. Geode Capital Management LLC now owns 136,640 shares of the information services provider’s stock valued at $567,000 after buying an additional 7,068 shares during the period. Cowen Prime Services LLC increased its position in Synacor by 52.7% in the first quarter. Cowen Prime Services LLC now owns 35,053 shares of the information services provider’s stock valued at $145,000 after buying an additional 12,100 shares during the period. Diversified Investment Strategies LLC increased its position in Synacor by 2.4% in the first quarter. Diversified Investment Strategies LLC now owns 523,500 shares of the information services provider’s stock valued at $2,173,000 after buying an additional 12,500 shares during the period. Finally, Renaissance Technologies LLC increased its position in Synacor by 1.4% in the first quarter. Renaissance Technologies LLC now owns 1,160,600 shares of the information services provider’s stock valued at $4,816,000 after buying an additional 16,400 shares during the period. Institutional investors own 15.01% of the company’s stock.

Synacor (SYNC) opened at 3.55 on Tuesday. The stock’s 50 day moving average price is $3.49 and its 200-day moving average price is $3.37. Synacor has a 12 month low of $2.51 and a 12 month high of $4.25. The stock’s market cap is $134.97 million.

Synacor (NASDAQ:SYNC) last released its quarterly earnings results on Wednesday, May 10th. The information services provider reported ($0.21) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.20) by $0.01. The firm had revenue of $26.50 million during the quarter, compared to analysts’ expectations of $27.31 million. Synacor had a negative return on equity of 39.99% and a negative net margin of 12.80%. The business’s quarterly revenue was down 12.5% on a year-over-year basis. Analysts anticipate that Synacor will post ($0.19) EPS for the current fiscal year.

Synacor Company Profile

Synacor, Inc is a technology development, multiplatform services and revenue partner for video, Internet and communications providers, device manufacturers and enterprises. The Company enables its customers to provide their consumers engaging, multiscreen experiences with products that require scale, actionable data and implementation.

Analyst Recommendations for Synacor (NASDAQ:SYNC)

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