Shares of Synchronoss Technologies, Inc. (NASDAQ:SNCR) have earned a consensus recommendation of “Hold” from the twelve brokerages that are currently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $13.50.
SNCR has been the topic of several research analyst reports. Deutsche Bank reiterated a “hold” rating and issued a $18.00 price objective (up previously from $10.00) on shares of Synchronoss Technologies in a research note on Monday, October 9th. Stifel Nicolaus reiterated a “hold” rating and issued a $10.00 price objective (down previously from $16.00) on shares of Synchronoss Technologies in a research note on Wednesday, September 20th. Citigroup upped their price objective on Synchronoss Technologies to $10.00 and gave the company a “hold” rating in a research note on Wednesday, September 20th. Zacks Investment Research upgraded Synchronoss Technologies from a “sell” rating to a “hold” rating in a research note on Wednesday, December 20th. Finally, BidaskClub downgraded Synchronoss Technologies from a “sell” rating to a “strong sell” rating in a research note on Saturday, December 9th.
Synchronoss Technologies (NASDAQ:SNCR) traded up $0.10 during trading on Monday, reaching $9.30. The company had a trading volume of 533,223 shares, compared to its average volume of 612,667. Synchronoss Technologies has a fifty-two week low of $8.48 and a fifty-two week high of $40.27. The stock has a market capitalization of $431.26, a P/E ratio of -7.38 and a beta of 1.56.
Several large investors have recently bought and sold shares of the business. Cornerstone Capital Management Holdings LLC. lifted its position in shares of Synchronoss Technologies by 603.3% during the third quarter. Cornerstone Capital Management Holdings LLC. now owns 84,400 shares of the software maker’s stock worth $786,000 after acquiring an additional 72,400 shares in the last quarter. Cowen Inc. lifted its position in shares of Synchronoss Technologies by 143.3% during the third quarter. Cowen Inc. now owns 66,900 shares of the software maker’s stock worth $624,000 after acquiring an additional 39,400 shares in the last quarter. Engineers Gate Manager LP purchased a new stake in shares of Synchronoss Technologies during the third quarter worth $476,000. Elk Creek Partners LLC lifted its position in shares of Synchronoss Technologies by 3.5% during the third quarter. Elk Creek Partners LLC now owns 2,420,323 shares of the software maker’s stock worth $22,582,000 after acquiring an additional 81,228 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC purchased a new stake in shares of Synchronoss Technologies during the third quarter worth $192,000. Hedge funds and other institutional investors own 68.17% of the company’s stock.
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Synchronoss Technologies Company Profile
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.
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