Synchronoss Technologies (NASDAQ:SNCR) Stock Passes Above Two Hundred Day Moving Average – Here’s What Happened

Synchronoss Technologies, Inc. (NASDAQ:SNCR) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $6.58 and traded as high as $8.70. Synchronoss Technologies shares last traded at $8.65, with a volume of 97,747 shares trading hands.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Roth Capital downgraded shares of Synchronoss Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 4th. Wall Street Zen downgraded shares of Synchronoss Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, December 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Synchronoss Technologies in a research note on Wednesday, October 8th. Finally, Zacks Research raised shares of Synchronoss Technologies from a “strong sell” rating to a “hold” rating in a report on Friday, October 10th. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Synchronoss Technologies has a consensus rating of “Reduce”.

Synchronoss Technologies Stock Performance

The company has a market cap of $99.56 million, a PE ratio of -8.48, a P/E/G ratio of 0.57 and a beta of 1.39. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 3.13. The business’s fifty day moving average is $6.84 and its 200-day moving average is $6.58.

Synchronoss Technologies (NASDAQ:SNCR) last issued its quarterly earnings results on Tuesday, November 4th. The software maker reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.28. The business had revenue of $42.00 million during the quarter, compared to analysts’ expectations of $43.20 million. Synchronoss Technologies had a positive return on equity of 24.44% and a negative net margin of 5.69%. As a group, research analysts predict that Synchronoss Technologies, Inc. will post 0.1 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of SNCR. Police & Firemen s Retirement System of New Jersey bought a new stake in Synchronoss Technologies during the second quarter worth approximately $30,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Synchronoss Technologies in the second quarter valued at about $40,000. Osaic Holdings Inc. raised its holdings in shares of Synchronoss Technologies by 289.8% in the second quarter. Osaic Holdings Inc. now owns 7,885 shares of the software maker’s stock valued at $54,000 after acquiring an additional 5,862 shares in the last quarter. Headlands Technologies LLC lifted its stake in Synchronoss Technologies by 195.0% in the second quarter. Headlands Technologies LLC now owns 8,638 shares of the software maker’s stock worth $59,000 after acquiring an additional 5,710 shares during the period. Finally, Silverberg Bernstein Capital Management LLC bought a new position in Synchronoss Technologies during the 2nd quarter worth about $72,000. 51.71% of the stock is currently owned by institutional investors.

About Synchronoss Technologies

Synchronoss Technologies, Inc is a global software and services company that provides cloud-based digital transformation solutions for communications service providers, enterprises, and financial institutions. The company’s platform delivers a suite of products designed to automate and manage the provisioning, activation and lifecycle of devices, subscriptions and services across fixed and mobile networks. Synchronoss’s offerings include digital customer engagement tools, identity verification and authentication services, as well as high-volume messaging and collaboration applications.

Founded in 2000 and headquartered in Bridgewater, New Jersey, Synchronoss serves a diverse customer base spanning North America, Europe, Asia and Latin America.