Synacor (NASDAQ:SYNC) was downgraded by equities researchers at Canaccord Genuity from a “buy” rating to a “hold” rating in a research note issued to investors on Friday. They presently have a $5.00 price objective on the information services provider’s stock. Canaccord Genuity’s target price suggests a potential upside of 185.71% from the company’s previous close.
Several other research analysts also recently commented on the company. Zacks Investment Research upgraded Synacor from a “sell” rating to a “hold” rating in a report on Tuesday, December 26th. ValuEngine upgraded Synacor from a “sell” rating to a “hold” rating in a report on Friday, December 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $4.83.
Synacor (SYNC) opened at $1.75 on Friday. Synacor has a fifty-two week low of $1.70 and a fifty-two week high of $4.25. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.07.
Synacor (NASDAQ:SYNC) last released its quarterly earnings data on Thursday, March 15th. The information services provider reported $0.00 EPS for the quarter, missing the consensus estimate of $0.02 by ($0.02). The firm had revenue of $46.00 million for the quarter, compared to analysts’ expectations of $47.79 million. Synacor had a negative return on equity of 23.63% and a negative net margin of 6.98%.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Cowen Prime Services LLC boosted its position in Synacor by 171.7% during the 4th quarter. Cowen Prime Services LLC now owns 147,673 shares of the information services provider’s stock valued at $340,000 after acquiring an additional 93,328 shares in the last quarter. Raffles Associates LP bought a new stake in Synacor during the 4th quarter valued at $185,000. Ariel Investments LLC boosted its position in Synacor by 28.3% during the 4th quarter. Ariel Investments LLC now owns 3,777,912 shares of the information services provider’s stock valued at $8,689,000 after acquiring an additional 833,000 shares in the last quarter. Prudential Financial Inc. boosted its position in Synacor by 39.0% during the 3rd quarter. Prudential Financial Inc. now owns 104,400 shares of the information services provider’s stock valued at $282,000 after acquiring an additional 29,300 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in Synacor by 4.1% during the 2nd quarter. Vanguard Group Inc. now owns 706,887 shares of the information services provider’s stock valued at $2,580,000 after acquiring an additional 27,763 shares in the last quarter. 30.52% of the stock is currently owned by institutional investors and hedge funds.
COPYRIGHT VIOLATION WARNING: “Synacor (SYNC) Rating Lowered to Hold at Canaccord Genuity” was published by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this story on another site, it was illegally copied and republished in violation of U.S. & international trademark and copyright legislation. The correct version of this story can be viewed at https://www.dispatchtribunal.com/2018/03/18/synacor-sync-rating-lowered-to-hold-at-canaccord-genuity.html.
Synacor, Inc is a technology development, multiplatform services and revenue partner for video, Internet and communications providers, device manufacturers and enterprises. The Company enables its customers to provide their consumers engaging, multiscreen experiences with products that require scale, actionable data and implementation.
Receive News & Ratings for Synacor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synacor and related companies with MarketBeat.com's FREE daily email newsletter.