The stock of Synchronoss Technologies, Inc. (NASDAQ:SNCR) hit a new 52-week high and has $52.00 target or 5.00% above today’s $49.52 share price. The 5 months bullish chart indicates low risk for the $2.23 billion company. The 1-year high was reported on Nov, 28 by Barchart.com. If the $52.00 price target is reached, the company will be worth $111.50M 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 321,277 shares traded hands. Synchronoss Technologies, Inc. (NASDAQ:SNCR) has risen 52.88% since April 25, 2016 and is uptrending. It has outperformed by 46.86% the S&P500.
Analysts await Synchronoss Technologies, Inc. (NASDAQ:SNCR) to report earnings on February, 1. They expect $0.67 earnings per share, up 52.27% or $0.23 from last year’s $0.44 per share. SNCR’s profit will be $30.17M for 18.48 P/E if the $0.67 EPS becomes a reality. After $0.56 actual earnings per share reported by Synchronoss Technologies, Inc. for the previous quarter, Wall Street now forecasts 19.64% 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) earned “Overweight” rating by Stephens on Wednesday, August 10. Raymond James upgraded the stock to “Strong Buy” rating in Thursday, October 29 report. The firm has “Hold” rating given on Thursday, February 4 by Stifel Nicolaus. The firm has “Buy” rating by Drexel Hamilton given on Wednesday, June 1.
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 dropped, 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.
Alliancebernstein Ltd Partnership has invested 0% of its portfolio in Synchronoss Technologies, Inc. (NASDAQ:SNCR). Walleye Trading Ltd Company has invested 0% of its portfolio in Synchronoss Technologies, Inc. (NASDAQ:SNCR). Comml Bank Of Ny Mellon last reported 494,629 shares in the company. First Republic Investment Management has invested 0% of its portfolio in Synchronoss Technologies, Inc. (NASDAQ:SNCR). Canada Pension Plan Board holds 76,600 shares or 0.01% of its portfolio. Cornercap Investment Counsel accumulated 0.1% or 16,755 shares. Emerald Advisers Pa has 0.39% invested in the company for 256,991 shares. State Of Tennessee Treasury Department has 0.01% invested in the company for 31,779 shares. Gemmer Asset Lc holds 0% of its portfolio in Synchronoss Technologies, Inc. (NASDAQ:SNCR) for 92 shares. State Street Corporation, a Massachusetts-based fund reported 790,284 shares. Vigilant Mngmt Ltd Llc holds 155 shares or 0% of its portfolio. Bnp Paribas Arbitrage Sa accumulated 12,611 shares or 0% of the stock. Fifth Third Bank & Trust has 14,869 shares for 0% of their US portfolio. Ahl Prns Llp accumulated 0.08% or 45,376 shares. The California-based Van Strum Towne Inc has invested 0.63% in Synchronoss Technologies, Inc. (NASDAQ:SNCR).
Insider Transactions: Since June 8, 2016, the stock had 0 buys, and 13 sales for $4.36 million net activity. Waldis Stephen G sold $525,590 worth of stock or 13,000 shares. On Monday, November 14 Moore Donnie sold $263,615 worth of the stock or 5,500 shares. 787 shares with value of $24,751 were sold by Rosenberger Karen on Wednesday, July 6. McCormick James M had sold 27,500 shares worth $1.10M. Shares for $18,922 were 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 Fool.com with their article: “Synchronoss Technologies, Inc. Earnings: A Classic “Beat and Raise” Report” published on August 08, 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: “Why Shares of Synchronoss Technologies Inc. Slumped Today” published on February 03, 2016 as well as Businesswire.com‘s news article titled: “Synchronoss Technologies to Acquire Openwave Messaging” with publication date: March 02, 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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