Synchronoss Technologies (NASDAQ:SNCR) Share Price Crosses Above Two Hundred Day Moving Average – What’s Next?

Synchronoss Technologies, Inc. (NASDAQ:SNCR)’s share price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $6.75 and traded as high as $8.79. Synchronoss Technologies shares last traded at $8.78, with a volume of 127,167 shares trading hands.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Roth Mkm cut Synchronoss Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 4th. Wall Street Zen cut shares of Synchronoss Technologies from a “buy” rating to a “hold” rating in a report on Saturday, December 6th. Zacks Research upgraded Synchronoss Technologies from a “strong sell” rating to a “hold” rating in a research report on Friday, October 10th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Synchronoss Technologies in a research note on Thursday, January 22nd. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Synchronoss Technologies presently has a consensus rating of “Reduce”.

Synchronoss Technologies Stock Up 0.2%

The firm’s fifty day simple moving average is $8.02 and its two-hundred day simple moving average is $6.76. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 3.13. The company has a market capitalization of $101.26 million, a price-to-earnings ratio of -8.63, a price-to-earnings-growth ratio of 0.57 and a beta of 1.39.

Synchronoss Technologies (NASDAQ:SNCR) last released its quarterly earnings data on Tuesday, November 4th. The software maker reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.28. The firm had revenue of $42.00 million for the quarter, compared to analysts’ expectations of $43.20 million. Synchronoss Technologies had a positive return on equity of 24.44% and a negative net margin of 5.69%. Sell-side analysts anticipate that Synchronoss Technologies, Inc. will post 0.1 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of Synchronoss Technologies during the second quarter valued at about $30,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Synchronoss Technologies during the 2nd quarter worth approximately $40,000. Osaic Holdings Inc. increased its holdings in Synchronoss Technologies by 289.8% in the 2nd quarter. Osaic Holdings Inc. now owns 7,885 shares of the software maker’s stock valued at $54,000 after purchasing an additional 5,862 shares during the last quarter. Headlands Technologies LLC raised its position in Synchronoss Technologies by 195.0% in the second quarter. Headlands Technologies LLC now owns 8,638 shares of the software maker’s stock valued at $59,000 after purchasing an additional 5,710 shares during the period. Finally, American Century Companies Inc. acquired a new position in Synchronoss Technologies during the second quarter worth $88,000. Institutional investors and hedge funds own 51.71% of the company’s stock.

About Synchronoss Technologies

Synchronoss Technologies, Inc is a global software and services company that provides cloud-based digital transformation solutions for communications service providers, enterprises, and financial institutions. The company’s platform delivers a suite of products designed to automate and manage the provisioning, activation and lifecycle of devices, subscriptions and services across fixed and mobile networks. Synchronoss’s offerings include digital customer engagement tools, identity verification and authentication services, as well as high-volume messaging and collaboration applications.

Founded in 2000 and headquartered in Bridgewater, New Jersey, Synchronoss serves a diverse customer base spanning North America, Europe, Asia and Latin America.