Synchronoss Technologies, Inc. (NASDAQ:SNCR) was upgraded by stock analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a report released on Thursday.

SNCR has been the topic of a number of other research reports. Credit Suisse Group downgraded shares of Synchronoss Technologies from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $45.00 to $13.00 in a report on Thursday, April 27th. UBS AG downgraded shares of Synchronoss Technologies from a “strong-buy” rating to an “outperform” rating in a report on Thursday, April 27th. Zacks Investment Research raised shares of Synchronoss Technologies from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 25th. Wells Fargo & Company downgraded shares of Synchronoss Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, April 27th. Finally, Drexel Hamilton downgraded shares of Synchronoss Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, June 14th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $24.00.

Shares of Synchronoss Technologies (SNCR) opened at 16.61 on Thursday. Synchronoss Technologies has a 1-year low of $10.11 and a 1-year high of $49.94. The stock has a market capitalization of $730.56 million, a price-to-earnings ratio of 36.91 and a beta of 1.74. The stock’s 50 day moving average is $16.42 and its 200 day moving average is $20.72.

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Several hedge funds have recently made changes to their positions in the stock. Wealthsource Partners LLC increased its stake in shares of Synchronoss Technologies by 241.5% in the second quarter. Wealthsource Partners LLC now owns 31,845 shares of the software maker’s stock valued at $524,000 after buying an additional 22,520 shares during the period. State Street Corp increased its stake in shares of Synchronoss Technologies by 8.1% in the second quarter. State Street Corp now owns 1,054,586 shares of the software maker’s stock valued at $17,346,000 after buying an additional 78,729 shares during the period. Gotham Asset Management LLC increased its stake in shares of Synchronoss Technologies by 111.0% in the second quarter. Gotham Asset Management LLC now owns 330,707 shares of the software maker’s stock valued at $5,440,000 after buying an additional 173,944 shares during the period. Voya Investment Management LLC increased its stake in shares of Synchronoss Technologies by 404.0% in the second quarter. Voya Investment Management LLC now owns 82,565 shares of the software maker’s stock valued at $1,358,000 after buying an additional 66,183 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Synchronoss Technologies by 29.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,357,569 shares of the software maker’s stock valued at $38,782,000 after buying an additional 540,181 shares during the period. 88.81% 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.

Analyst Recommendations for Synchronoss Technologies (NASDAQ:SNCR)

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