Synchronoss Technologies (NASDAQ:SNCR)‘s stock had its “hold” rating restated by stock analysts at Deutsche Bank in a research report issued on Thursday. They currently have a $8.00 price objective on the software maker’s stock, down from their previous price objective of $18.00. Deutsche Bank’s target price would suggest a potential downside of 17.36% from the stock’s current price.

A number of other equities analysts also recently commented on the stock. Credit Suisse Group restated an “underperform” rating and set a $8.00 price objective (down previously from $13.00) on shares of Synchronoss Technologies in a research report on Thursday. Zacks Investment Research cut shares of Synchronoss Technologies from a “hold” rating to a “sell” rating in a research note on Wednesday, October 25th. 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 note on Wednesday, September 20th. Citigroup upped their price target on shares of Synchronoss Technologies to $10.00 and gave the stock a “hold” rating in a research note on Wednesday, September 20th. Finally, Raymond James Financial cut shares of Synchronoss Technologies from an “outperform” rating to an “underperform” rating and set a $18.00 price target on the stock. in a research note on Tuesday, September 19th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company’s stock. Synchronoss Technologies currently has a consensus rating of “Hold” and a consensus price target of $16.57.

Shares of Synchronoss Technologies (NASDAQ:SNCR) traded down $0.19 during trading on Thursday, reaching $9.68. 522,600 shares of the company’s stock were exchanged, compared to its average volume of 1,485,586. The stock has a market cap of $405.30, a P/E ratio of 6.81 and a beta of 1.55. Synchronoss Technologies has a 52 week low of $8.71 and a 52 week high of $42.95.

Several hedge funds have recently made changes to their positions in SNCR. Dimensional Fund Advisors LP lifted its holdings in shares of Synchronoss Technologies by 29.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,357,569 shares of the software maker’s stock worth $38,782,000 after acquiring an additional 540,181 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in Synchronoss Technologies in the second quarter valued at approximately $8,843,000. State of New Jersey Common Pension Fund D purchased a new position in Synchronoss Technologies in the second quarter valued at approximately $8,225,000. State of Wisconsin Investment Board raised its holdings in Synchronoss Technologies by 108.5% in the third quarter. State of Wisconsin Investment Board now owns 679,010 shares of the software maker’s stock valued at $6,335,000 after buying an additional 353,388 shares during the period. Finally, Stephens Inc. AR purchased a new position in Synchronoss Technologies in the second quarter valued at approximately $5,360,000. Institutional investors and hedge funds own 68.35% of the company’s stock.

TRADEMARK VIOLATION NOTICE: “Synchronoss Technologies (SNCR) Given Hold Rating at Deutsche Bank” was first reported by American Banking News and is the property of of American Banking News. If you are viewing this article on another domain, it was stolen and reposted in violation of U.S. and international trademark and copyright laws. The correct version of this article can be viewed at https://www.americanbankingnews.com/2017/12/07/synchronoss-technologies-sncr-given-hold-rating-at-deutsche-bank.html.

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.

Analyst Recommendations for Synchronoss Technologies (NASDAQ:SNCR)

Receive News & Ratings for Synchronoss Technologies Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synchronoss Technologies Inc. and related companies with MarketBeat.com's FREE daily email newsletter.