The stock of Synchronoss Technologies, Inc. (NASDAQ:SNCR) hit a new 52-week high and has $59.57 target or 23.00% above today’s $48.43 share price. The 7 months bullish chart indicates low risk for the $2.21B company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $59.57 price target is reached, the company will be worth $508.30M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 105,351 shares traded hands. Synchronoss Technologies, Inc. (NASDAQ:SNCR) has risen 49.29% since April 19, 2016 and is uptrending. It has outperformed by 45.43% the S&P500.
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) has “Hold” rating given on Thursday, February 4 by Stifel Nicolaus. On Wednesday, August 10 the stock rating was initiated by Stephens with “Overweight”.
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 decreased to 1.33 in Q2 2016. Its down 0.60, from 1.93 in 2016Q1. The ratio turned negative, 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.
Credit Suisse Ag holds 213,772 shares or 0.01% of its portfolio. Deere & Com holds 0.08% or 48,262 shares in its portfolio. Cornercap Invest Counsel holds 16,755 shares or 0.1% of its portfolio. Tfs Capital Ltd Liability last reported 0.08% of its portfolio in the stock. Moreover, Metropolitan Life New York has 0.01% invested in Synchronoss Technologies, Inc. (NASDAQ:SNCR) for 29,247 shares. The Minnesota-based Thrivent For Lutherans has invested 0% in Synchronoss Technologies, Inc. (NASDAQ:SNCR). Jpmorgan Chase And Co holds 0% or 48,501 shares in its portfolio. Fifth Third National Bank owns 14,869 shares or 0% of their US portfolio. Barclays Pcl has invested 0% of its portfolio in Synchronoss Technologies, Inc. (NASDAQ:SNCR). Numeric Limited Liability Company owns 41,800 shares or 0.01% of their US portfolio. Frontier Management Ltd, a Massachusetts-based fund reported 307,330 shares. Voya Invest Mgmt Ltd Liability Com, a Georgia-based fund reported 726,774 shares. Group One Trading Ltd Partnership holds 0% or 548 shares in its portfolio. The Illinois-based Oak Ridge Investments Lc has invested 2.23% in Synchronoss Technologies, Inc. (NASDAQ:SNCR). Dimensional Fund Advsr Limited Partnership holds 0.02% or 1.01M shares in its portfolio.
Insider Transactions: Since May 24, 2016, the stock had 0 insider purchases, and 13 selling transactions for $4.36 million net activity. $469,560 worth of shares were sold by Waldis Stephen G on Wednesday, June 8. The insider Rosenberger Karen sold 787 shares worth $24,751. Moore Donnie had sold 5,500 shares worth $263,615. On Thursday, August 4 McCormick James M sold $1.10 million worth of the stock or 27,500 shares. Another trade for 436 shares valued at $18,922 was sold by Schuette David.
More notable recent Synchronoss Technologies, Inc. (NASDAQ:SNCR) news were published by: Fool.com which released: “Why Synchronoss Technologies, Inc. Stock Soared Today” on November 08, 2016, also Finance.Yahoo.com with their article: “Synchronoss Technologies, Inc. Announces Date of Third Quarter 2016 Financial …” published on October 12, 2016, Fool.com published: “Why Shares of Synchronoss Technologies Inc. Soared Today” on May 06, 2016. More interesting news about Synchronoss Technologies, Inc. (NASDAQ:SNCR) were released by: Fool.com and their article: “Synchronoss Technologies, Inc. Earnings: A Classic “Beat and Raise” Report” published on August 08, 2016 as well as Fool.com‘s news article titled: “Why Shares of Synchronoss Technologies Inc. Slumped Again Today” with publication date: February 04, 2016.
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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