The analysts wrote, “We are upgrading SNCR to OW from N based on valuation. SNCR shares have pulled back 39% since 1Q12 earnings where management talked about AT&T 6th channel reducing volumes. We think the $9M reduction is now priced in and at 1.6x EV/Sales, 13x earnings and 9x FCFF on 2013E, the risk reward now favors to the upside. We do not believe this is a broken business. SNCR remains a double digit organic grower, it is continuing to expand in all channels at AT&T, it just signed a long-term expanding relationship at Verizon and there is potential for upside with additional carrier or upsell opportunities.”
Shares of Synchronoss Technologies opened at 17.21 on Thursday. Synchronoss Technologies has a 52 week low of $17.06 and a 52 week high of $38.90. The company has a market cap of $658.7 million and a P/E ratio of 32.47.
Synchronoss Technologies last announced its earnings results on Monday, May 7th. The company reported $0.26 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.23 by $0.03. Synchronoss Technologies’s revenue was up 21.5% compared to the same quarter last year. On average, analysts predict that Synchronoss Technologies will post $0.28 earnings per share next quarter.
SNCR has been the subject of a number of other recent research reports. Analysts at Goldman Sachs (NYSE: GS) cut their price target on shares of Synchronoss Technologies from $37.00 to $28.00 in a research note to investors on Monday, May 14th. Finally, analysts at Sidoti upgraded shares of Synchronoss Technologies from a “neutral” rating to a “buy” rating in a research note to investors on Tuesday, May 8th.
Synchronoss Technologies, Inc. (Synchronoss) is a provider of on-demand transaction management solutions.