Synacor, Inc. (NASDAQ:SYNC) has been given a consensus rating of “Buy” by the nine analysts that are presently covering the company, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $5.25.

Several equities research analysts recently issued reports on SYNC shares. Craig Hallum downgraded Synacor from a “buy” rating to a “hold” rating and increased their price objective for the stock from $3.55 to $4.00 in a research note on Thursday, August 10th. ValuEngine downgraded Synacor from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Rosenblatt Securities reissued a “buy” rating and issued a $5.50 price objective on shares of Synacor in a research note on Monday, June 12th. Finally, Canaccord Genuity reduced their price objective on Synacor from $8.00 to $6.00 and set a “buy” rating for the company in a research note on Thursday, August 10th.

Shares of Synacor (NASDAQ SYNC) opened at 2.65 on Friday. Synacor has a 12-month low of $2.30 and a 12-month high of $4.25. The firm has a 50-day moving average price of $2.83 and a 200 day moving average price of $3.36. The stock’s market cap is $102.47 million.

Synacor (NASDAQ:SYNC) last announced its earnings results on Wednesday, August 9th. The information services provider reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.02. The business had revenue of $31.22 million during the quarter, compared to the consensus estimate of $29.43 million. Synacor had a negative return on equity of 39.21% and a negative net margin of 13.14%. Synacor’s quarterly revenue was up 2.4% on a year-over-year basis. Equities research analysts predict that Synacor will post ($0.32) EPS for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of SYNC. Bank of New York Mellon Corp raised its stake in shares of Synacor by 0.9% during the 1st quarter. Bank of New York Mellon Corp now owns 47,048 shares of the information services provider’s stock worth $195,000 after purchasing an additional 400 shares in the last quarter. EAM Investors LLC purchased a new stake in shares of Synacor during the 1st quarter worth about $593,000. Wellington Management Group LLP raised its stake in shares of Synacor by 43.5% during the 1st quarter. Wellington Management Group LLP now owns 1,073,900 shares of the information services provider’s stock worth $4,457,000 after purchasing an additional 325,700 shares in the last quarter. Diversified Investment Strategies LLC raised its stake in shares of Synacor by 2.4% during the 1st quarter. Diversified Investment Strategies LLC now owns 523,500 shares of the information services provider’s stock worth $2,173,000 after purchasing an additional 12,500 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of Synacor by 1.4% during the 1st quarter. Renaissance Technologies LLC now owns 1,160,600 shares of the information services provider’s stock worth $4,816,000 after purchasing an additional 16,400 shares in the last quarter. 28.08% of the stock is owned by institutional investors.

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About Synacor

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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