Posted by admin on Apr 21st, 2022 
Brokerages predict that Synchronoss Technologies, Inc. (NASDAQ:SNCR – Get Rating) will post $65.44 million in sales for the current quarter, according to Zacks. Three analysts have provided estimates for Synchronoss Technologies’ earnings. The lowest sales estimate is $65.27 million and the highest is $65.55 million. Synchronoss Technologies reported sales of $65.50 million during the same quarter last year, which would suggest a negative year over year growth rate of 0.1%. The business is expected to issue its next earnings report on Monday, January 1st.
On average, analysts expect that Synchronoss Technologies will report full year sales of $265.21 million for the current year, with estimates ranging from $264.38 million to $266.65 million. For the next fiscal year, analysts anticipate that the company will post sales of $283.00 million. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Synchronoss Technologies.
Synchronoss Technologies (NASDAQ:SNCR – Get Rating) last issued its quarterly earnings results on Tuesday, March 8th. The software maker reported $0.04 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.06. The company had revenue of $73.83 million for the quarter, compared to analyst estimates of $71.91 million. Synchronoss Technologies had a negative net margin of 8.13% and a negative return on equity of 10.81%. During the same period in the prior year, the firm earned ($0.11) earnings per share.
A number of analysts have issued reports on SNCR shares. StockNews.com initiated coverage on shares of Synchronoss Technologies in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Zacks Investment Research downgraded Synchronoss Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, January 12th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $5.57.
In other news, CEO Jeffrey George Miller acquired 72,180 shares of Synchronoss Technologies stock in a transaction on Monday, March 14th. The stock was bought at an average price of $1.35 per share, for a total transaction of $97,443.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Christopher K. Hill acquired 100,000 shares of Synchronoss Technologies stock in a transaction on Friday, March 11th. The stock was purchased at an average price of $1.19 per share, with a total value of $119,000.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 334,422 shares of company stock valued at $422,357 and sold 20,715 shares valued at $31,861. Corporate insiders own 30.70% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. Victory Capital Management Inc. purchased a new stake in Synchronoss Technologies in the third quarter valued at approximately $27,000. Qube Research & Technologies Ltd purchased a new stake in shares of Synchronoss Technologies during the fourth quarter worth approximately $37,000. Wedbush Securities Inc. purchased a new stake in shares of Synchronoss Technologies during the first quarter worth approximately $48,000. Financial Advocates Investment Management raised its stake in shares of Synchronoss Technologies by 50.0% during the third quarter. Financial Advocates Investment Management now owns 30,000 shares of the software maker’s stock worth $72,000 after purchasing an additional 10,000 shares during the last quarter. Finally, Mirabella Financial Services LLP purchased a new stake in shares of Synchronoss Technologies during the fourth quarter worth approximately $73,000. Institutional investors own 52.72% of the company’s stock.
Shares of NASDAQ:SNCR opened at $1.46 on Thursday. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.28 and a quick ratio of 1.28. The firm has a market capitalization of $128.85 million, a PE ratio of -1.22 and a beta of 1.07. The firm’s 50-day moving average is $1.66 and its two-hundred day moving average is $2.16. Synchronoss Technologies has a 1 year low of $1.15 and a 1 year high of $3.99.
Synchronoss Technologies Company Profile (Get Rating)
Synchronoss Technologies, Inc provides cloud, messaging, digital, and network management platforms, products, and solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company's platforms, products, and solutions include content backup, view, manage, engage, transfer, and restore solutions in operating systems and devices; multi-channel messaging, peer-to-peer communications, and application-to-person commerce solutions; email solutions; customer journey and workflow design, development, orchestration, and experience management solutions; and telecom network infrastructure designing, procuring, managing, and optimizing solutions.
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