Wall Street analysts predict that Synchronoss Technologies, Inc. (NASDAQ:SNCR) will report $0.13 earnings per share for the current quarter, Zacks reports. Four analysts have provided estimates for Synchronoss Technologies’ earnings, with the highest EPS estimate coming in at $0.16 and the lowest estimate coming in at $0.10. Synchronoss Technologies reported earnings per share of $0.45 in the same quarter last year, which would suggest a negative year over year growth rate of 71.1%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, August 2nd.

On average, analysts expect that Synchronoss Technologies will report full year earnings of $0.89 per share for the current year, with EPS estimates ranging from $0.69 to $1.09. For the next financial year, analysts forecast that the business will report earnings of $0.94 per share. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Synchronoss Technologies.

A number of brokerages have commented on SNCR. UBS AG lowered Synchronoss Technologies from a “strong-buy” rating to an “outperform” rating in a research report on Thursday, April 27th. Zacks Investment Research lowered Synchronoss Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, April 1st. Wells Fargo & Company reiterated 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. Drexel Hamilton lowered Synchronoss Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, June 14th. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $16.00 price objective on shares of Synchronoss Technologies in a research report on Friday, June 23rd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $27.71.

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Shares of Synchronoss Technologies (NASDAQ:SNCR) opened at 16.35 on Friday. Synchronoss Technologies has a 1-year low of $10.11 and a 1-year high of $49.94. The company has a market cap of $719.12 million, a P/E ratio of 36.33 and a beta of 1.74. The stock has a 50 day moving average price of $14.19 and a 200-day moving average price of $23.66.

In related news, major shareholder Silver Private Holdings I, Llc purchased 1,357,383 shares of the business’s stock in a transaction dated Thursday, May 4th. The shares were bought at an average price of $15.89 per share, with a total value of $21,568,815.87. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 11.00% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of SNCR. Cornerstone Financial Partners LLC increased its stake in shares of Synchronoss Technologies by 87.5% in the second quarter. Cornerstone Financial Partners LLC now owns 51,293 shares of the software maker’s stock valued at $845,000 after buying an additional 23,936 shares during the last quarter. US Bancorp DE increased its stake in shares of Synchronoss Technologies by 28.6% in the second quarter. US Bancorp DE now owns 16,614 shares of the software maker’s stock valued at $273,000 after buying an additional 3,694 shares during the last quarter. Malaga Cove Capital LLC increased its stake in shares of Synchronoss Technologies by 17.7% in the second quarter. Malaga Cove Capital LLC now owns 46,538 shares of the software maker’s stock valued at $768,000 after buying an additional 6,985 shares during the last quarter. First Quadrant L P CA acquired a new stake in shares of Synchronoss Technologies during the second quarter valued at approximately $356,000. Finally, Louisiana State Employees Retirement System increased its stake in shares of Synchronoss Technologies by 1.1% in the second quarter. Louisiana State Employees Retirement System now owns 17,600 shares of the software maker’s stock valued at $290,000 after buying an additional 200 shares during the last quarter. 93.58% of the stock is currently owned by institutional investors.

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.

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