Equities research analysts expect that Synchronoss Technologies, Inc. (NASDAQ:SNCR) will post sales of $181.08 million for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Synchronoss Technologies’ earnings, with the highest sales estimate coming in at $192.00 million and the lowest estimate coming in at $169.10 million. Synchronoss Technologies posted sales of $157.55 million during the same quarter last year, which would indicate a positive year over year growth rate of 14.9%. The firm is scheduled to issue its next quarterly earnings report on Wednesday, August 2nd.

On average, analysts expect that Synchronoss Technologies will report full-year sales of $181.08 million for the current financial year, with estimates ranging from $684.95 million to $753.57 million. For the next financial year, analysts forecast that the business will post sales of $784.67 million per share, with estimates ranging from $743.00 million to $827.66 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Synchronoss Technologies.

A number of equities research analysts have recently issued reports on the company. Credit Suisse Group cut Synchronoss Technologies from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $45.00 to $13.00 in a report on Thursday, April 27th. UBS AG cut Synchronoss Technologies from a “strong-buy” rating to an “outperform” rating in a report on Thursday, April 27th. Zacks Investment Research cut Synchronoss Technologies from a “hold” rating to a “sell” rating in a report on Wednesday, April 12th. Wells Fargo & Company cut Synchronoss Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, April 27th. Finally, Drexel Hamilton cut Synchronoss Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, June 14th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $27.71.

Synchronoss Technologies (NASDAQ SNCR) traded down 0.73% during trading on Friday, reaching $16.26. The company’s stock had a trading volume of 936,239 shares. Synchronoss Technologies has a 52-week low of $10.11 and a 52-week high of $49.94. The stock has a market cap of $715.16 million, a P/E ratio of 36.13 and a beta of 1.74. The firm’s 50-day moving average is $14.19 and its 200-day moving average is $23.66.

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In related news, major shareholder Silver Private Holdings I, Llc purchased 1,357,383 shares of the business’s stock in a transaction that occurred on Thursday, May 4th. The stock was acquired at an average cost of $15.89 per share, for a total transaction of $21,568,815.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 11.00% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. increased its position in shares of Synchronoss Technologies by 155,453.2% in the first quarter. BlackRock Inc. now owns 5,134,811 shares of the software maker’s stock valued at $125,291,000 after buying an additional 5,131,510 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Synchronoss Technologies by 48.8% in the first quarter. Dimensional Fund Advisors LP now owns 1,817,388 shares of the software maker’s stock valued at $44,345,000 after buying an additional 596,051 shares in the last quarter. Elk Creek Partners LLC increased its position in shares of Synchronoss Technologies by 35.9% in the first quarter. Elk Creek Partners LLC now owns 2,094,039 shares of the software maker’s stock valued at $51,095,000 after buying an additional 553,072 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Synchronoss Technologies by 638.0% in the first quarter. Renaissance Technologies LLC now owns 543,900 shares of the software maker’s stock valued at $13,271,000 after buying an additional 470,200 shares in the last quarter. Finally, Rubric Capital Management LP purchased a new position in shares of Synchronoss Technologies during the first quarter valued at approximately $9,760,000. Institutional investors and hedge funds own 93.58% of the company’s stock.

About Synchronoss Technologies

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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