Synacor, Inc. (SYNC) Upgraded to Hold by ValuEngine
Synacor, Inc. (NASDAQ:SYNC) was upgraded by equities researchers at ValuEngine from a “sell” rating to a “hold” rating in a report issued on Tuesday.
SYNC has been the subject of a number of other research reports. Craig Hallum initiated coverage on shares of Synacor in a research note on Monday, March 27th. They issued a “buy” rating and a $5.00 price objective for the company. Zacks Investment Research raised shares of Synacor from a “hold” rating to a “buy” rating and set a $4.00 price objective for the company in a research note on Wednesday, May 10th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $5.50 price objective on shares of Synacor in a research note on Tuesday, April 18th. TheStreet lowered shares of Synacor from a “c-” rating to a “d” rating in a research note on Thursday, May 11th. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $5.50 price objective on shares of Synacor in a research note on Thursday, May 11th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Synacor presently has a consensus rating of “Buy” and an average price target of $5.10.
Synacor (NASDAQ:SYNC) remained flat at $3.65 during midday trading on Tuesday. The company had a trading volume of 56,658 shares. The company’s market cap is $138.77 million. Synacor has a 52-week low of $2.51 and a 52-week high of $4.25. The stock’s 50-day moving average is $3.59 and its 200 day moving average is $3.43.
Synacor (NASDAQ:SYNC) last posted its quarterly earnings data on Wednesday, May 10th. The information services provider reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by $0.01. Synacor had a negative return on equity of 39.99% and a negative net margin of 12.80%. The firm had revenue of $26.50 million during the quarter, compared to analyst estimates of $27.31 million. The firm’s revenue for the quarter was down 12.5% on a year-over-year basis. On average, equities analysts expect that Synacor will post ($0.19) EPS for the current fiscal year.
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Large investors have recently modified their holdings of the stock. Prescott Group Capital Management L.L.C. bought a new stake in shares of Synacor during the third quarter worth about $144,000. Cowen Prime Services LLC raised its stake in shares of Synacor by 52.7% in the first quarter. Cowen Prime Services LLC now owns 35,053 shares of the information services provider’s stock worth $145,000 after buying an additional 12,100 shares during the period. Eagle Global Advisors LLC bought a new stake in shares of Synacor during the third quarter worth about $178,000. Bank of New York Mellon Corp raised its stake in shares of 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 worth $195,000 after buying an additional 400 shares during the period. Finally, Spark Investment Management LLC raised its stake in shares of Synacor by 6.1% in the first quarter. Spark Investment Management LLC now owns 179,800 shares of the information services provider’s stock worth $251,000 after buying an additional 10,300 shares during the period. 15.01% of the stock is owned by institutional investors.
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.
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