Synchronoss Technologies (SNCR) Given “Underperform” Rating at Credit Suisse Group

Credit Suisse Group reissued their underperform rating on shares of Synchronoss Technologies (NASDAQ:SNCR) in a report issued on Thursday morning. They currently have a $8.00 target price on the software maker’s stock, down from their previous target price of $13.00.

A number of other analysts have also issued reports on the company. Zacks Investment Research lowered Synchronoss Technologies from a hold rating to a sell rating in a research report on Wednesday, October 25th. Raymond James Financial lowered Synchronoss Technologies from an outperform rating to an underperform rating and set a $18.00 target price on the stock. in a research report on Tuesday, September 19th. Deutsche Bank reissued a hold rating and issued a $10.00 target price (down previously from $18.00) on shares of Synchronoss Technologies in a research report on Wednesday, September 20th. Stifel Nicolaus reissued a hold rating and issued a $10.00 target price (down previously from $16.00) on shares of Synchronoss Technologies in a research report on Wednesday, September 20th. Finally, Citigroup boosted their target price on Synchronoss Technologies to $10.00 and gave the company a hold rating in a research report on Wednesday, September 20th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. Synchronoss Technologies has a consensus rating of Hold and an average price target of $16.57.

Shares of Synchronoss Technologies (NASDAQ SNCR) traded down $0.09 during midday trading on Thursday, reaching $9.26. The company’s stock had a trading volume of 756,125 shares, compared to its average volume of 1,486,662. The stock has a market capitalization of $459.94, a price-to-earnings ratio of 6.68 and a beta of 1.55. Synchronoss Technologies has a 52 week low of $8.48 and a 52 week high of $42.70.

Several large investors have recently bought and sold shares of SNCR. Crossmark Global Holdings Inc. acquired a new position in shares of Synchronoss Technologies in the third quarter worth $113,000. SG Americas Securities LLC acquired a new position in shares of Synchronoss Technologies in the third quarter worth $119,000. State of Alaska Department of Revenue grew its stake in shares of Synchronoss Technologies by 80.3% in the second quarter. State of Alaska Department of Revenue now owns 8,511 shares of the software maker’s stock worth $140,000 after acquiring an additional 3,791 shares in the last quarter. FNY Managed Accounts LLC acquired a new position in shares of Synchronoss Technologies in the third quarter worth $149,000. Finally, Municipal Employees Retirement System of Michigan grew its stake in shares of Synchronoss Technologies by 60.2% in the third quarter. Municipal Employees Retirement System of Michigan now owns 16,180 shares of the software maker’s stock worth $151,000 after acquiring an additional 6,080 shares in the last quarter. Institutional investors and hedge funds own 68.35% of the company’s stock.

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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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