Roth Capital Analysts Decrease Earnings Estimates for SNCR

Synchronoss Technologies, Inc. (NASDAQ:SNCR) – Equities research analysts at Roth Capital reduced their FY2024 earnings per share (EPS) estimates for shares of Synchronoss Technologies in a research report issued on Monday, November 25th. Roth Capital analyst R. Baldry now forecasts that the software maker will post earnings of $0.10 per share for the year, down from their previous forecast of $0.74. Roth Capital currently has a “Strong-Buy” rating on the stock. The consensus estimate for Synchronoss Technologies’ current full-year earnings is $0.74 per share. Roth Capital also issued estimates for Synchronoss Technologies’ Q4 2024 earnings at ($0.04) EPS, Q1 2025 earnings at $0.03 EPS, Q2 2025 earnings at $0.04 EPS, Q3 2025 earnings at $0.05 EPS, Q4 2025 earnings at $0.06 EPS and FY2025 earnings at $0.17 EPS.

A number of other equities research analysts have also recently commented on the stock. StockNews.com cut shares of Synchronoss Technologies from a “buy” rating to a “hold” rating in a research note on Friday, August 16th. Roth Mkm upgraded shares of Synchronoss Technologies from a “neutral” rating to a “buy” rating and raised their price target for the company from $11.00 to $13.00 in a research report on Monday.

Synchronoss Technologies Stock Up 4.3 %

Shares of SNCR stock opened at $9.81 on Thursday. Synchronoss Technologies has a twelve month low of $3.55 and a twelve month high of $15.46. The stock has a market cap of $106.33 million, a P/E ratio of -2.53 and a beta of 1.99. The stock has a 50 day moving average of $11.50 and a 200 day moving average of $10.85. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 5.75.

Insider Buying and Selling

In related news, Director Martin Francis Bernstein sold 6,036 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $14.14, for a total value of $85,349.04. Following the completion of the sale, the director now owns 48,498 shares of the company’s stock, valued at approximately $685,761.72. The trade was a 11.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Patrick Joseph Doran sold 3,250 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $14.77, for a total transaction of $48,002.50. Following the transaction, the executive vice president now owns 107,483 shares of the company’s stock, valued at $1,587,523.91. This represents a 2.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 37,165 shares of company stock valued at $513,165. 17.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Synchronoss Technologies

Several institutional investors have recently bought and sold shares of SNCR. Barclays PLC raised its holdings in shares of Synchronoss Technologies by 603.6% during the third quarter. Barclays PLC now owns 5,734 shares of the software maker’s stock valued at $85,000 after acquiring an additional 4,919 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Synchronoss Technologies during the third quarter worth approximately $165,000. XTX Topco Ltd acquired a new position in Synchronoss Technologies in the 3rd quarter valued at $237,000. State Street Corp raised its stake in Synchronoss Technologies by 12.9% in the 3rd quarter. State Street Corp now owns 35,075 shares of the software maker’s stock valued at $522,000 after purchasing an additional 4,000 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Synchronoss Technologies by 40.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 70,504 shares of the software maker’s stock valued at $654,000 after purchasing an additional 20,368 shares in the last quarter. 51.71% of the stock is currently owned by institutional investors and hedge funds.

Synchronoss Technologies Company Profile

Synchronoss Technologies, Inc provides cloud, messaging, digital, and network management solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers Synchronoss Personal Cloud platform that allows customers' subscribers to backup and protect, engage with, and manage their personal content.