Synchronoss Technologies (NASDAQ:SNCR) Upgraded to “Buy” at Wall Street Zen

Wall Street Zen upgraded shares of Synchronoss Technologies (NASDAQ:SNCR) from a hold rating to a buy rating in a research note released on Saturday.

SNCR has been the subject of several other reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Synchronoss Technologies in a research note on Wednesday, October 8th. Zacks Research upgraded Synchronoss Technologies from a “strong sell” rating to a “hold” rating in a research note on Friday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $13.00.

Synchronoss Technologies Price Performance

Shares of NASDAQ SNCR traded up $0.17 during midday trading on Friday, reaching $5.17. 163,782 shares of the stock traded hands, compared to its average volume of 99,041. The company’s 50 day moving average is $5.66 and its 200 day moving average is $6.81. Synchronoss Technologies has a one year low of $4.83 and a one year high of $12.85. The company has a debt-to-equity ratio of 3.13, a current ratio of 1.53 and a quick ratio of 1.72. The stock has a market capitalization of $59.51 million, a PE ratio of -5.07, a P/E/G ratio of 2.87 and a beta of 1.53.

Synchronoss Technologies (NASDAQ:SNCR) last released its quarterly earnings results on Monday, August 11th. The software maker reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.15). Synchronoss Technologies had a negative net margin of 5.69% and a positive return on equity of 24.44%. The business had revenue of $42.49 million for the quarter, compared to analysts’ expectations of $42.79 million. Synchronoss Technologies has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate that Synchronoss Technologies will post 0.1 earnings per share for the current year.

Institutional Investors Weigh In On Synchronoss Technologies

Several large investors have recently bought and sold shares of the company. Ancora Advisors LLC raised its stake in Synchronoss Technologies by 762.4% in the 1st quarter. Ancora Advisors LLC now owns 146,871 shares of the software maker’s stock valued at $1,599,000 after purchasing an additional 129,840 shares during the last quarter. Geode Capital Management LLC raised its holdings in Synchronoss Technologies by 119.7% in the 2nd quarter. Geode Capital Management LLC now owns 235,606 shares of the software maker’s stock valued at $1,614,000 after acquiring an additional 128,375 shares during the last quarter. Archon Capital Management LLC lifted its stake in Synchronoss Technologies by 259.5% in the 2nd quarter. Archon Capital Management LLC now owns 163,631 shares of the software maker’s stock worth $1,121,000 after purchasing an additional 118,117 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of Synchronoss Technologies in the 1st quarter worth $914,000. Finally, Informed Momentum Co LLC purchased a new position in shares of Synchronoss Technologies during the 1st quarter worth $569,000. 51.71% of the stock is currently owned by hedge funds and other institutional investors.

Synchronoss Technologies Company Profile

Synchronoss Technologies, Inc provides cloud, messaging, digital, and network management solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers Synchronoss Personal Cloud platform that allows customers' subscribers to backup and protect, engage with, and manage their personal content.