Synacor, Inc. (SYNC) Receives Average Recommendation of “Hold” from Analysts
Synacor, Inc. (NASDAQ:SYNC) has been assigned an average rating of “Hold” from the eight ratings firms that are covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $5.00.
A number of equities research analysts recently commented on the company. Craig Hallum downgraded Synacor from a “buy” rating to a “hold” rating and lifted their target price for the stock from $3.55 to $4.00 in a report on Thursday, August 10th. ValuEngine upgraded Synacor from a “sell” rating to a “hold” rating in a research report on Monday, September 11th. Zacks Investment Research cut Synacor from a “hold” rating to a “sell” rating in a research report on Thursday, October 5th. Finally, Canaccord Genuity dropped their price target on Synacor from $8.00 to $6.00 and set a “buy” rating for the company in a research report on Thursday, August 10th.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Northpointe Capital LLC grew its holdings in Synacor by 558.3% in the 3rd quarter. Northpointe Capital LLC now owns 1,649,151 shares of the information services provider’s stock valued at $4,453,000 after buying an additional 1,398,638 shares in the last quarter. Alyeska Investment Group L.P. lifted its position in Synacor by 1.8% during the 3rd quarter. Alyeska Investment Group L.P. now owns 1,307,784 shares of the information services provider’s stock worth $3,531,000 after acquiring an additional 23,353 shares during the period. Renaissance Technologies LLC lifted its position in 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 acquiring an additional 16,400 shares during the period. Vanguard Group Inc. lifted its position in Synacor by 4.1% during the 2nd quarter. Vanguard Group Inc. now owns 706,887 shares of the information services provider’s stock worth $2,580,000 after acquiring an additional 27,763 shares during the period. Finally, S Squared Technology LLC acquired a new stake in Synacor during the 2nd quarter worth approximately $1,168,000. Hedge funds and other institutional investors own 30.05% 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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