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.

Institutional investors have recently modified their holdings of the company. Crossmark Global Holdings Inc. acquired a new stake in shares of Synchronoss Technologies in the 3rd quarter valued at about $113,000. SG Americas Securities LLC acquired a new stake in shares of Synchronoss Technologies in the 3rd quarter valued at about $119,000. State of Alaska Department of Revenue raised its stake in Synchronoss Technologies by 80.3% during the second quarter. State of Alaska Department of Revenue now owns 8,511 shares of the software maker’s stock worth $140,000 after acquiring an additional 3,791 shares during the period. FNY Managed Accounts LLC acquired a new stake in Synchronoss Technologies during the third quarter worth about $149,000. Finally, Municipal Employees Retirement System of Michigan raised its stake in Synchronoss Technologies by 60.2% during the third quarter. Municipal Employees Retirement System of Michigan now owns 16,180 shares of the software maker’s stock worth $151,000 after acquiring an additional 6,080 shares during the period. Institutional investors and hedge funds own 68.35% of the company’s stock.

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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.

The Fly

Analyst Recommendations for Synchronoss Technologies (NASDAQ:SNCR)

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