Equities research analysts expect that Synchronoss Technologies, Inc. (NASDAQ:SNCR) will report ($0.25) earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Synchronoss Technologies’ earnings, with estimates ranging from ($0.31) to ($0.19). Synchronoss Technologies reported earnings per share of $0.06 during the same quarter last year, which suggests a negative year over year growth rate of 516.7%. The firm is scheduled to issue its next quarterly earnings results on Monday, May 10th.
According to Zacks, analysts expect that Synchronoss Technologies will report full year earnings of ($0.49) per share for the current year, with EPS estimates ranging from ($0.62) to ($0.36). For the next year, analysts anticipate that the firm will report earnings of ($0.50) per share. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that that provide coverage for Synchronoss Technologies.
Synchronoss Technologies (NASDAQ:SNCR) last announced its quarterly earnings results on Sunday, March 7th. The software maker reported ($0.19) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.20) by $0.01. Synchronoss Technologies had a negative net margin of 5.05% and a positive return on equity of 24.27%. The company had revenue of $69.38 million for the quarter, compared to analysts’ expectations of $67.34 million.
Several equities research analysts recently weighed in on SNCR shares. Zacks Investment Research raised shares of Synchronoss Technologies from a “hold” rating to a “buy” rating and set a $5.00 price target for the company in a research report on Saturday, March 13th. Canaccord Genuity reissued a “buy” rating and issued a $9.00 target price on shares of Synchronoss Technologies in a report on Monday, March 8th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $7.50.
In related news, CFO David D. Clark sold 6,423 shares of the firm’s stock in a transaction that occurred on Friday, March 12th. The shares were sold at an average price of $4.46, for a total value of $28,646.58. Following the sale, the chief financial officer now owns 226,103 shares in the company, valued at $1,008,419.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 21,831 shares of company stock valued at $100,538 over the last three months. 30.50% of the stock is owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of SNCR. Citigroup Inc. boosted its position in Synchronoss Technologies by 303.2% in the fourth quarter. Citigroup Inc. now owns 7,926 shares of the software maker’s stock worth $37,000 after purchasing an additional 5,960 shares during the last quarter. Financial Advocates Investment Management bought a new position in shares of Synchronoss Technologies in the 4th quarter worth approximately $47,000. Credit Suisse AG purchased a new position in shares of Synchronoss Technologies in the fourth quarter worth approximately $53,000. Squarepoint Ops LLC bought a new stake in Synchronoss Technologies during the third quarter valued at approximately $37,000. Finally, SG Americas Securities LLC bought a new stake in Synchronoss Technologies during the fourth quarter valued at approximately $64,000. Institutional investors own 42.31% of the company’s stock.
Synchronoss Technologies stock traded down $0.13 during trading hours on Monday, hitting $3.33. The stock had a trading volume of 7,961 shares, compared to its average volume of 577,434. The stock’s 50-day moving average price is $4.21 and its 200-day moving average price is $3.86. The stock has a market capitalization of $147.06 million, a P/E ratio of -2.66 and a beta of 1.21. Synchronoss Technologies has a 12-month low of $2.17 and a 12-month high of $6.59.
About Synchronoss Technologies
Synchronoss Technologies, Inc provides cloud, digital, messaging, and Internet of Things (IoT) platforms, products, and solutions in North America, Europe, the Middle East, Africa, and the Asia Pacific. Its platforms, products, and solutions include digital experience management platform as a service, which includes digital journey creation and journey design products that use analytics that power digital advisor products for IT and business channel owners; and cloud sync, backup, storage, device set up, content transfer, and content engagement for user generated content.
Recommended Story: How liquidity affects the bid-ask spread
For more information about research offerings from Zacks Investment Research, visit Zacks.com