Stock analysts at FBR Capital Markets hoisted their price target on shares of Synchronoss Technologies (NASDAQ:SNCR) from $38.00 to $43.00 in a report issued on Wednesday, Stock Ratings Network.com reports. The firm currently has an “outperform” rating on the stock. FBR Capital Markets’ price objective points to a potential upside of 24.64% from the stock’s previous close.
Shares of Synchronoss Technologies (NASDAQ:SNCR) opened at 34.50 on Wednesday. Synchronoss Technologies has a 52 week low of $17.08 and a 52 week high of $35.55. The stock’s 50-day moving average is currently $30.56. The company has a market cap of $1.330 billion and a P/E ratio of 101.47.
Synchronoss Technologies (NASDAQ:SNCR) last released its earnings data on Tuesday, July 30th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.02. The company had revenue of $83.80 million for the quarter, compared to the consensus estimate of $83.08 million. During the same quarter in the previous year, the company posted $0.29 earnings per share. The company’s revenue for the quarter was up 25.1% on a year-over-year basis. Analysts expect that Synchronoss Technologies will post $1.34 EPS for the current fiscal year.
One research analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $35.60.
In other Synchronoss Technologies news, EVP Ronald Prague dumped 5,000 shares of the stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $30.02, for a total transaction of $150,100.00. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Synchronoss Technologies, Inc (NASDAQ:SNCR) is a provider of on-demand transaction management solutions.
