The price of Synchronoss Technologies Inc. (NASDAQ:SNCR) shares last traded on Wall Street fell -18.63% to $0.83.
SNCR stock price is now -2.18% away from the 50-day moving average and -26.65% away from the 200-day moving average. The market capitalization of the company currently stands at $71.88M.
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With the price target reduced from $9 to $3, ROTH Capital Downgraded its rating from Buy to Neutral for Synchronoss Technologies Inc. (NASDAQ: SNCR). On June 30, 2021, B. Riley Securities recently initiated its ‘Buy’ rating on the stock quoting a target price of $5.25, while ‘Ladenburg Thalmann’ rates the stock as ‘Buy’.
In other news, Waldis Stephen G, Executive Chairman sold 3,408 shares of the company’s stock on Feb 21. The stock was sold for $3,602 at an average price of $1.06. Upon completion of the transaction, the Executive Chairman now directly owns 749,346 shares in the company, valued at $0.62 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 04, SVP and CLO Gabrys Christina sold 587 shares of the business’s stock. A total of $939 was realized by selling the stock at an average price of $1.60. This leaves the insider owning 80,373 shares of the company worth $66709.59. Insiders disposed of 21,003 shares of company stock worth roughly $17432.489999999998 over the past 1 year. A total of 3.80% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in SNCR stock. A new stake in Synchronoss Technologies Inc. shares was purchased by B. RILEY SECURITIES, INC. during the first quarter worth $10,027,000. BOOTHBAY FUND MANAGEMENT, LLC invested $517,000 in shares of SNCR during the first quarter. In the first quarter, LANDSCAPE CAPITAL MANAGEMENT, L.L.C. acquired a new stake in Synchronoss Technologies Inc. valued at approximately $126,000. FINANCIAL ARCHITECTS, INC acquired a new stake in SNCR for approximately $29,000. RAYMOND JAMES & ASSOCIATES purchased a new stake in SNCR valued at around $17,000 in the second quarter. In total, there are 97 active investors with 53.30% ownership of the company’s stock.
A candlestick chart of Synchronoss Technologies Inc. (NASDAQ: SNCR) showed a price of $0.8412 on Wednesday morning. During the past 12 months, Synchronoss Technologies Inc. has had a low of $0.51 and a high of $1.91. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 1.40, and a quick ratio of 1.40. The fifty day moving average price for SNCR is $0.8536 and a two-hundred day moving average price translates $1.1278 for the stock.
The latest earnings results from Synchronoss Technologies Inc. (NASDAQ: SNCR) was released for Sep, 2022. According to the Software – Infrastructure Company, earnings per share came in at $0.04, beating analysts’ expectations of $0.03 by 0.01. This compares to -$0.09 EPS in the same period last year. The net profit margin was -1.40% and return on equity was -4.60% for SNCR. The company reported revenue of $59.9 million for the quarter, compared to $69.75 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -14.13 percent. For the current quarter, analysts expect SNCR to generate $65.23M in revenue.
Synchronoss Technologies Inc.(SNCR) Company Profile
Synchronoss Technologies, Inc. provides cloud, messaging, digital, and network management platforms, products, and solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company’s platforms, products, and solutions include content backup, view, manage, engage, transfer, and restore solutions in operating systems and devices; multi-channel messaging, peer-to-peer communications, and application-to-person commerce solutions; email solutions; customer journey and workflow design, development, orchestration, and experience management solutions; and telecom network infrastructure designing, procuring, managing, and optimizing solutions. It also streamlines the activation of new services and devices. In addition, the company offers software development and customization services. It markets and sells its services through direct sales force and strategic partners. The company was incorporated in 2000 and is headquartered in Bridgewater, New Jersey.
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