Traders Purchase Large Volume of Put Options on Synchronoss Technologies (SNCR)
Synchronoss Technologies, Inc. (NASDAQ:SNCR) was the target of unusually large options trading on Thursday. Traders purchased 1,255 put options on the company. This is an increase of 689% compared to the typical volume of 159 put options.
A number of analysts recently issued reports on SNCR shares. Deutsche Bank reissued a “hold” rating and set a $18.00 target price (up from $10.00) on shares of Synchronoss Technologies in a research note on Monday, October 9th. Stifel Nicolaus reissued a “hold” rating and set a $10.00 target price (down from $16.00) on shares of Synchronoss Technologies in a research note on Wednesday, September 20th. Citigroup increased their target price on Synchronoss Technologies to $10.00 and gave the stock a “hold” rating in a research note on Wednesday, September 20th. Zacks Investment Research cut Synchronoss Technologies from a “hold” rating to a “sell” rating in a research note on Wednesday, October 25th. Finally, BidaskClub raised Synchronoss Technologies from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 17th. Four 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 stock has a consensus rating of “Hold” and a consensus price target of $16.57.
Synchronoss Technologies (SNCR) opened at $9.26 on Friday. Synchronoss Technologies has a 12-month low of $8.48 and a 12-month high of $42.70. The firm has a market capitalization of $444.26, a P/E ratio of 6.45 and a beta of 1.55.
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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