Wall Street analysts expect Synchronoss Technologies, Inc. (NASDAQ:SNCR) to report earnings per share (EPS) of $0.01 for the current quarter, Zacks reports. Three analysts have issued estimates for Synchronoss Technologies’ earnings. The lowest EPS estimate is ($0.01) and the highest is $0.06. Synchronoss Technologies posted earnings per share of ($0.19) during the same quarter last year, which indicates a positive year-over-year growth rate of 105.3%. The business is scheduled to issue its next earnings results on Monday, March 14th.
According to Zacks, analysts expect that Synchronoss Technologies will report full-year earnings of ($0.45) per share for the current fiscal year, with EPS estimates ranging from ($0.52) to ($0.30). For the next financial year, analysts forecast that the company will post earnings of $0.09 per share, with EPS estimates ranging from ($0.01) to $0.24. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that follow Synchronoss Technologies.
Synchronoss Technologies (NASDAQ:SNCR) last released its earnings results on Monday, November 8th. The software maker reported $0.09 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.07) by $0.16. Synchronoss Technologies had a negative net margin of 8.44% and a negative return on equity of 12.35%. During the same period last year, the business posted ($0.06) EPS.
A number of equities analysts have commented on the stock. Roth Capital downgraded shares of Synchronoss Technologies from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $9.00 to $3.00 in a report on Tuesday, August 10th. Zacks Investment Research raised Synchronoss Technologies from a “hold” rating to a “buy” rating and set a $3.25 target price on the stock in a research note on Thursday, November 18th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $5.57.
NASDAQ SNCR opened at $2.72 on Friday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.05 and a current ratio of 1.02. Synchronoss Technologies has a one year low of $2.15 and a one year high of $6.59. The company’s 50 day moving average price is $2.50 and its 200 day moving average price is $2.73. The firm has a market capitalization of $240.29 million, a price-to-earnings ratio of -1.89 and a beta of 0.99.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its holdings in Synchronoss Technologies by 2.9% during the 1st quarter. Bank of New York Mellon Corp now owns 134,329 shares of the software maker’s stock worth $480,000 after purchasing an additional 3,838 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Synchronoss Technologies by 637.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 282,191 shares of the software maker’s stock valued at $1,007,000 after buying an additional 243,916 shares during the last quarter. AQR Capital Management LLC grew its position in shares of Synchronoss Technologies by 32.6% in the 1st quarter. AQR Capital Management LLC now owns 188,669 shares of the software maker’s stock valued at $674,000 after buying an additional 46,430 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of Synchronoss Technologies in the 1st quarter valued at about $62,000. Finally, Paloma Partners Management Co acquired a new position in Synchronoss Technologies during the 1st quarter worth approximately $115,000. 51.42% of the stock is owned by institutional investors.
About Synchronoss Technologies
Synchronoss Technologies, Inc engages in the provision of cloud and enterprise solutions. The firm offers software-based activation for connected devices globally. Its platform includes cloud home, personal cloud content transfer and out-of-box experience, advance messaging and email suite, journey creation and advisor, digital coach, digital portal, activation, Internet of Things (IoT), and smart buildings.
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