Synchronoss Technologies (NASDAQ:SNCR) Shares Pass Above 200 Day Moving Average – Here’s What Happened
by Doug Wharley · The Cerbat GemSynchronoss Technologies, Inc. (NASDAQ:SNCR – Get Free Report)’s share price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $6.49 and traded as high as $8.62. Synchronoss Technologies shares last traded at $8.56, with a volume of 44,953 shares trading hands.
Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on the company. Zacks Research raised Synchronoss Technologies from a “strong sell” rating to a “hold” rating in a report on Friday, October 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Synchronoss Technologies in a report on Wednesday, October 8th. Wall Street Zen cut shares of Synchronoss Technologies from a “buy” rating to a “hold” rating in a report on Saturday, December 6th. Finally, Roth Capital lowered shares of Synchronoss Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 4th. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Synchronoss Technologies currently has an average rating of “Reduce”.
Get Our Latest Stock Report on SNCR
Synchronoss Technologies Stock Performance
The firm’s 50-day moving average price is $6.49 and its two-hundred day moving average price is $6.50. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 3.13. The firm has a market capitalization of $98.53 million, a PE ratio of -8.39, a P/E/G ratio of 1.06 and a beta of 1.38.
Synchronoss Technologies (NASDAQ:SNCR – Get Free Report) last issued its quarterly earnings results on Tuesday, November 4th. The software maker reported $0.63 EPS for the quarter, beating the consensus estimate of $0.35 by $0.28. Synchronoss Technologies had a negative net margin of 5.69% and a positive return on equity of 24.44%. The business had revenue of $42.00 million during the quarter, compared to the consensus estimate of $43.20 million. As a group, research analysts predict that Synchronoss Technologies, Inc. will post 0.1 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Synchronoss Technologies
Hedge funds have recently bought and sold shares of the business. Police & Firemen s Retirement System of New Jersey acquired a new stake in Synchronoss Technologies during the 2nd quarter worth about $30,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Synchronoss Technologies in the second quarter worth approximately $40,000. Osaic Holdings Inc. lifted its position in shares of Synchronoss Technologies by 289.8% in the second quarter. Osaic Holdings Inc. now owns 7,885 shares of the software maker’s stock worth $54,000 after purchasing an additional 5,862 shares in the last quarter. Headlands Technologies LLC boosted its holdings in shares of Synchronoss Technologies by 195.0% during the second quarter. Headlands Technologies LLC now owns 8,638 shares of the software maker’s stock worth $59,000 after purchasing an additional 5,710 shares during the period. Finally, Silverberg Bernstein Capital Management LLC purchased a new position in Synchronoss Technologies during the second quarter valued at approximately $72,000. 51.71% of the stock is owned by hedge funds and other institutional investors.
About Synchronoss Technologies
Synchronoss Technologies, Inc is a global software and services company that provides cloud-based digital transformation solutions for communications service providers, enterprises, and financial institutions. The company’s platform delivers a suite of products designed to automate and manage the provisioning, activation and lifecycle of devices, subscriptions and services across fixed and mobile networks. Synchronoss’s offerings include digital customer engagement tools, identity verification and authentication services, as well as high-volume messaging and collaboration applications.
Founded in 2000 and headquartered in Bridgewater, New Jersey, Synchronoss serves a diverse customer base spanning North America, Europe, Asia and Latin America.