The stock of Synchronoss Technologies, Inc. (NASDAQ:SNCR) is a huge mover today! About 189,065 shares traded hands. Synchronoss Technologies, Inc. (NASDAQ:SNCR) has risen 37.06% since March 1, 2016 and is uptrending. It has outperformed by 27.82% the S&P500.
The move comes after 5 months positive chart setup for the $1.82 billion company. It was reported on Oct, 4 by Barchart.com. We have $51.75 PT which if reached, will make NASDAQ:SNCR worth $473.20M more.
Analysts await Synchronoss Technologies, Inc. (NASDAQ:SNCR) to report earnings on October, 26. They expect $0.56 EPS, up 33.33% or $0.14 from last year’s $0.42 per share. SNCR’s profit will be $24.82M for 18.33 P/E if the $0.56 EPS becomes a reality. After $0.45 actual EPS reported by Synchronoss Technologies, Inc. for the previous quarter, Wall Street now forecasts 24.44% EPS growth.
Synchronoss Technologies, Inc. (NASDAQ:SNCR) Ratings Coverage
Out of 5 analysts covering Synchronoss Technologies Inc. (NASDAQ:SNCR), 4 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 80% are positive. Synchronoss Technologies Inc. has been the topic of 8 analyst reports since July 31, 2015 according to StockzIntelligence Inc. The stock of Synchronoss Technologies, Inc. (NASDAQ:SNCR) has “Buy” rating given on Wednesday, June 1 by Drexel Hamilton. On Thursday, October 29 the stock rating was upgraded by Raymond James to “Strong Buy”. The stock of Synchronoss Technologies, Inc. (NASDAQ:SNCR) earned “Overweight” rating by Stephens on Wednesday, August 10. On Thursday, February 4 the stock rating was downgraded by Stifel Nicolaus to “Hold”.
According to Zacks Investment Research, “SYNCHRONOSS TECHNOLOGIES is the premier provider of on-demand transaction management software to Tier One communications service providers. Synchronoss enables service providers to drive growth in new and existing markets while delivering an improved customer experience at lower costs. The company’s flagship ActivationNow and ConvergenceNow software platforms automate, synchronize and simplify electronic service creation and management of advanced wireline, wireless and IP services across existing networks.”
Insitutional Activity: The institutional sentiment increased to 1.93 in Q2 2016. Its up 0.99, from 0.94 in 2016Q1. The ratio is positive, as 8 funds sold all Synchronoss Technologies, Inc. shares owned while 51 reduced positions. 35 funds bought stakes while 79 increased positions. They now own 36.19 million shares or 1.51% more from 35.65 million shares in 2016Q1.
Arizona State Retirement holds 20,922 shares or 0.01% of its portfolio. Blackrock Japan Co Ltd owns 152 shares or 0% of their US portfolio. Guggenheim Cap Lc has 0.01% invested in the company for 68,093 shares. Jane Street Group Incorporated Limited Com last reported 0% of its portfolio in the stock. Capstone Invest Advsr Lc holds 0.01% or 21,800 shares in its portfolio. Gemmer Asset Lc holds 0% of its portfolio in Synchronoss Technologies, Inc. (NASDAQ:SNCR) for 92 shares. Gp One Trading Ltd Partnership last reported 548 shares in the company. Moreover, Airain Limited has 0.03% invested in Synchronoss Technologies, Inc. (NASDAQ:SNCR) for 13,797 shares. Janney Montgomery Scott Limited Liability Com last reported 0.01% of its portfolio in the stock. Davidson & Garrard reported 76,011 shares or 0.6% of all its holdings. C M Bidwell And Assoc Ltd holds 0.04% or 5,410 shares in its portfolio. Credit Suisse Ag holds 0.01% of its portfolio in Synchronoss Technologies, Inc. (NASDAQ:SNCR) for 213,772 shares. Glenmede Tru Na has 10,265 shares for 0% of their US portfolio. Bank Of New York Mellon last reported 494,629 shares in the company. Northern Trust Corporation accumulated 0.01% or 642,474 shares.
Insider Transactions: Since April 13, 2016, the stock had 0 insider buys, and 13 insider sales for $6.12 million net activity. The insider Moore Donnie sold $223,465. On Monday, August 22 Rosenberger Karen sold $3,384 worth of the stock or 83 shares. Waldis Stephen G had sold 13,000 shares worth $527,930. Shares for $1.93M were sold by HOFFMAN CHARLES E. Shares for $1.10M were sold by McCormick James M. Schuette David had sold 436 shares worth $18,922.
More recent Synchronoss Technologies, Inc. (NASDAQ:SNCR) news were published by: Fool.com which released: “Why Shares of Synchronoss Technologies Inc. Soared Today” on May 06, 2016. Also Fool.com published the news titled: “Why Shares of Synchronoss Technologies Inc. Slumped Today” on February 03, 2016. Businesswire.com‘s news article titled: “Synchronoss Technologies, Inc. Ranked Number 7 on Forbes Fast Tech 25 Annual …” with publication date: April 22, 2016 was also an interesting one.
SNCR Company Profile
Synchronoss Technologies, Inc. (Synchronoss), incorporated on September 19, 2000, offers cloud solutions and software activation for mobile carriers, enterprises, retailers and original equipment manufacturers (OEMs). The Firm operates in providing cloud solutions and software activation for connected devices segment. The Company’s software provides consumer and enterprise solutions for transactions on a range of connected devices across the world’s networks. The Company’s solutions include activation and provisioning software for devices and services, cloud sync, backup, storage and content engagement capabilities, broadband connectivity solutions, analytics, identity/access management and secure mobility management that enable communications service providers (CSPs), cable operators/multi-services operators (MSOs) and OEMs with embedded connectivity (smartphones, laptops, tablets and mobile Internet devices (MIDs), such as automobiles, wearables for personal health and wellness, and connected homes), multi-channel retailers, medium and large enterprises and their consumers, as well as other clients for secure and broadband networks, and connected devices. The Firm operates in and markets its solutions and services directly through its sales organizations in North America, Europe and Asia-Pacific.
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