Synchronoss Technologies (NASDAQ:SNCR) Rating Increased to Strong-Buy at Roth Capital

Roth Capital upgraded shares of Synchronoss Technologies (NASDAQ:SNCR) from a hold rating to a strong-buy rating in a research report sent to investors on Monday morning,Zacks.com reports. Roth Capital also issued estimates for Synchronoss Technologies’ Q4 2024 earnings at ($0.04) EPS, FY2024 earnings at $0.10 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.

Several other research firms have also recently issued reports on SNCR. StockNews.com cut Synchronoss Technologies from a “buy” rating to a “hold” rating in a research report on Friday, August 16th. Roth Mkm upgraded Synchronoss Technologies from a “neutral” rating to a “buy” rating and upped their price target for the stock from $11.00 to $13.00 in a report on Monday.

Synchronoss Technologies Price Performance

Shares of NASDAQ:SNCR opened at $9.81 on Monday. Synchronoss Technologies has a 52 week low of $3.55 and a 52 week high of $15.46. The company has a 50-day moving average price of $11.50 and a 200 day moving average price of $10.85. The company has a market cap of $106.33 million, a P/E ratio of -2.53 and a beta of 1.99. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 5.75.

Insiders Place Their Bets

In related news, CEO Jeffrey George Miller sold 12,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $13.50, for a total value of $162,000.00. Following the sale, the chief executive officer now owns 284,462 shares of the company’s stock, valued at approximately $3,840,237. This represents a 4.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Martin Francis Bernstein sold 6,036 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $14.14, for a total value of $85,349.04. Following the transaction, the director now directly owns 48,498 shares of the company’s stock, valued at $685,761.72. The trade was a 11.07 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 37,165 shares of company stock worth $513,165. Insiders own 17.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SNCR. Barclays PLC raised its position in shares of Synchronoss Technologies by 603.6% in the third quarter. Barclays PLC now owns 5,734 shares of the software maker’s stock valued at $85,000 after buying an additional 4,919 shares during the last quarter. GSA Capital Partners LLP acquired a new position in Synchronoss Technologies in the 3rd quarter valued at $165,000. XTX Topco Ltd acquired a new stake in shares of Synchronoss Technologies during the third quarter worth $237,000. State Street Corp grew its position in shares of Synchronoss Technologies by 12.9% in the third 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 period. Finally, Dimensional Fund Advisors LP increased its stake in Synchronoss Technologies by 40.6% in the second 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 during the last quarter. 51.71% of the stock is currently owned by hedge funds and other institutional investors.

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.