Synacor, Inc. (SYNC) Given Consensus Recommendation of “Hold” by Brokerages
Synacor, Inc. (NASDAQ:SYNC) has received an average recommendation of “Hold” from the nine analysts that are currently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and four have given a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $5.25.
A number of research firms have issued reports on SYNC. ValuEngine downgraded Synacor from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Craig Hallum downgraded Synacor from a “buy” rating to a “hold” rating and raised their target price for the stock from $3.55 to $4.00 in a research report on Thursday, August 10th. Zacks Investment Research downgraded Synacor from a “hold” rating to a “sell” rating in a research report on Thursday, October 5th. Finally, Canaccord Genuity decreased their target price on Synacor from $8.00 to $6.00 and set a “buy” rating for the company in a research report on Thursday, August 10th.
Synacor (NASDAQ SYNC) opened at 2.75 on Thursday. The firm has a 50-day moving average price of $2.62 and a 200-day moving average price of $3.30. The firm’s market capitalization is $106.34 million. Synacor has a one year low of $2.30 and a one year high of $4.25.
Synacor (NASDAQ:SYNC) last released its earnings results on Wednesday, August 9th. The information services provider reported ($0.09) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.11) by $0.02. Synacor had a negative return on equity of 39.21% and a negative net margin of 13.14%. The business had revenue of $31.22 million during the quarter, compared to the consensus estimate of $29.43 million. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. Analysts expect that Synacor will post ($0.32) EPS for the current year.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Boston Partners purchased a new position in shares of Synacor in the second quarter valued at $1,122,000. Wellington Management Group LLP grew its position in shares of Synacor by 43.5% in the first quarter. Wellington Management Group LLP now owns 1,073,900 shares of the information services provider’s stock valued at $4,457,000 after purchasing an additional 325,700 shares in the last quarter. S Squared Technology LLC purchased a new position in shares of Synacor in the second quarter valued at $1,168,000. Northpointe Capital LLC purchased a new position in shares of Synacor in the second quarter valued at $914,000. Finally, Acadian Asset Management LLC grew its position in shares of Synacor by 9.7% in the second quarter. Acadian Asset Management LLC now owns 85,433 shares of the information services provider’s stock valued at $312,000 after purchasing an additional 7,576 shares in the last quarter. Institutional investors own 28.08% of the company’s stock.
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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