Wall Street analysts predict that Synchronoss Technologies, Inc. (NASDAQ:SNCR) will post $79.83 million in sales for the current quarter, Zacks reports. Two analysts have issued estimates for Synchronoss Technologies’ earnings. The lowest sales estimate is $79.65 million and the highest is $80.00 million. Synchronoss Technologies posted sales of $76.74 million during the same quarter last year, which suggests a positive year over year growth rate of 4%. The company is scheduled to announce its next quarterly earnings results on Thursday, August 8th.
On average, analysts expect that Synchronoss Technologies will report full year sales of $344.90 million for the current year, with estimates ranging from $344.79 million to $345.00 million. For the next financial year, analysts expect that the business will post sales of $360.67 million, with estimates ranging from $355.00 million to $366.33 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Synchronoss Technologies.
Synchronoss Technologies (NASDAQ:SNCR) last announced its quarterly earnings results on Thursday, May 9th. The software maker reported ($0.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.01). The company had revenue of $88.11 million for the quarter, compared to analysts’ expectations of $83.37 million. Synchronoss Technologies had a negative net margin of 67.57% and a negative return on equity of 76.17%.
SNCR has been the topic of a number of research reports. ValuEngine raised shares of Synchronoss Technologies from a “hold” rating to a “buy” rating in a report on Monday, April 1st. Zacks Investment Research raised shares of Synchronoss Technologies from a “hold” rating to a “buy” rating and set a $6.75 price objective on the stock in a report on Tuesday, March 19th.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Optimum Investment Advisors bought a new stake in Synchronoss Technologies during the 1st quarter worth approximately $30,000. United Services Automobile Association bought a new stake in Synchronoss Technologies during the 4th quarter worth approximately $72,000. Jane Street Group LLC bought a new stake in Synchronoss Technologies during the 4th quarter worth approximately $73,000. Saturna Capital CORP bought a new stake in Synchronoss Technologies during the 4th quarter worth approximately $92,000. Finally, Deutsche Bank AG bought a new stake in Synchronoss Technologies during the 4th quarter worth approximately $95,000. 41.20% of the stock is currently owned by institutional investors.
SNCR opened at $6.91 on Thursday. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $284.29 million, a P/E ratio of -1.41 and a beta of 0.32. Synchronoss Technologies has a 12-month low of $3.90 and a 12-month high of $8.49.
Synchronoss Technologies Company Profile
Synchronoss Technologies, Inc provides cloud, digital, messaging, and Internet of things platforms, products, and solutions worldwide. Its products and services include cloud-based sync, backup, storage and content engagement capabilities, broadband connectivity solutions, analytics, white label messaging, and identity/access management that enable communications service providers, cable operators/multi-services operators, original equipment manufacturers with embedded connectivity, and multi-channel retailers, as well as other customers to accelerate and monetize value-add services for secure and broadband networks and connected devices.
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