Credit Suisse Group Reiterates “Underperform” Rating for Synchronoss Technologies (SNCR)
Synchronoss Technologies (NASDAQ:SNCR)‘s stock had its “underperform” rating reaffirmed by investment analysts at Credit Suisse Group in a research note issued on Thursday, The Fly reports. They currently have a $8.00 target price on the software maker’s stock, down from their previous target price of $13.00. Credit Suisse Group’s price objective would suggest a potential downside of 17.36% from the company’s previous close.
Several other brokerages have also recently issued reports on SNCR. BidaskClub raised shares of Synchronoss Technologies from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 17th. Citigroup upped their price target on shares of Synchronoss Technologies to $10.00 and gave the stock a “hold” rating in a research report on Wednesday, September 20th. Stifel Nicolaus reaffirmed a “hold” rating and set a $10.00 price target (down from $16.00) on shares of Synchronoss Technologies in a research report on Wednesday, September 20th. Deutsche Bank reaffirmed a “hold” rating and set a $18.00 price target (up from $10.00) on shares of Synchronoss Technologies in a research report on Monday, October 9th. Finally, Raymond James Financial cut shares of Synchronoss Technologies from an “outperform” rating to an “underperform” rating and set a $18.00 price target for the company. in a research report on Tuesday, September 19th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $18.00.
Synchronoss Technologies (NASDAQ SNCR) opened at $9.68 on Thursday. The firm has a market capitalization of $468.97, a price-to-earnings ratio of 6.81 and a beta of 1.55. Synchronoss Technologies has a twelve month low of $8.71 and a twelve month high of $42.95.
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About Synchronoss Technologies
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.
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