Synchronoss Technologies, Inc. (SNCR) Receives Average Recommendation of “Hold” from Analysts

Synchronoss Technologies, Inc. (NASDAQ:SNCR) has earned an average recommendation of “Hold” from the twelve analysts that are currently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and one has given a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $16.00.

A number of equities analysts recently commented on SNCR shares. Deutsche Bank AG reaffirmed a “hold” rating and set a $18.00 price target (up from $10.00) on shares of Synchronoss Technologies in a research note on Monday, October 9th. Stifel Nicolaus reaffirmed a “hold” rating and set a $10.00 price target (down from $16.00) on shares of Synchronoss Technologies in a research note on Wednesday, September 20th. BidaskClub raised shares of Synchronoss Technologies from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 17th. Raymond James Financial, Inc. cut shares of Synchronoss Technologies from an “outperform” rating to an “underperform” rating and set a $18.00 price target for the company. in a research note on Tuesday, September 19th. Finally, Citigroup Inc. lifted their price target on shares of Synchronoss Technologies to $10.00 and gave the stock a “hold” rating in a research note on Wednesday, September 20th.



Shares of Synchronoss Technologies (NASDAQ SNCR) traded down 11.52% during trading on Wednesday, hitting $11.67. 7,012,197 shares of the stock traded hands. The stock has a market cap of $513.28 million, a PE ratio of 25.93 and a beta of 1.61. Synchronoss Technologies has a 12 month low of $8.71 and a 12 month high of $49.94. The firm’s 50-day moving average price is $13.31 and its 200-day moving average price is $15.73.

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A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Municipal Employees Retirement System of Michigan lifted its holdings in Synchronoss Technologies by 1.2% during the 1st quarter. Municipal Employees Retirement System of Michigan now owns 9,630 shares of the software maker’s stock valued at $235,000 after buying an additional 110 shares in the last quarter. Louisiana State Employees Retirement System lifted its holdings in Synchronoss Technologies by 1.1% during the 2nd quarter. Louisiana State Employees Retirement System now owns 17,600 shares of the software maker’s stock valued at $290,000 after buying an additional 200 shares in the last quarter. Arizona State Retirement System lifted its holdings in Synchronoss Technologies by 0.9% during the 2nd quarter. Arizona State Retirement System now owns 22,522 shares of the software maker’s stock valued at $370,000 after buying an additional 200 shares in the last quarter. Texas Permanent School Fund lifted its holdings in Synchronoss Technologies by 1.7% during the 2nd quarter. Texas Permanent School Fund now owns 31,486 shares of the software maker’s stock valued at $518,000 after buying an additional 513 shares in the last quarter. Finally, Mason Street Advisors LLC lifted its holdings in Synchronoss Technologies by 8.6% during the 1st quarter. Mason Street Advisors LLC now owns 10,003 shares of the software maker’s stock valued at $244,000 after buying an additional 794 shares in the last quarter. Institutional investors own 74.06% of the company’s stock.

About Synchronoss Technologies

Synchronoss Technologies, Inc is a global software and services company, which provides technologies and services for the mobile transformation of business. The Company’s portfolio in the Consumer and Enterprise markets contains offerings, such as personal cloud, secure-mobility, identity management and scalable messaging platforms, products and solutions.

Analyst Recommendations for Synchronoss Technologies (NASDAQ:SNCR)

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