Craig Hallum Downgrades Synacor, Inc. (NASDAQ:SYNC) to Hold

Synacor, Inc. (NASDAQ:SYNC) was downgraded by analysts at Craig Hallum from a “buy” rating to a “hold” rating in a report issued on Thursday.

SYNC has been the subject of several other reports. Zacks Investment Research lowered shares of Synacor from a “buy” rating to a “hold” rating in a research report on Wednesday, May 17th. ValuEngine upgraded shares of Synacor from a “sell” rating to a “hold” rating in a research report on Tuesday, July 25th. Canaccord Genuity restated a “buy” rating and set a $5.50 price target on shares of Synacor in a research report on Thursday, May 11th. Rosenblatt Securities restated a “buy” rating and set a $5.50 price target on shares of Synacor in a research report on Monday, June 12th. Finally, TheStreet lowered shares of Synacor from a “c-” rating to a “d” rating in a research report on Thursday, May 11th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $5.10.

Synacor (NASDAQ:SYNC) opened at 3.55 on Thursday. The company’s 50-day moving average price is $3.67 and its 200 day moving average price is $3.48. The company’s market capitalization is $134.97 million. Synacor has a 12 month low of $2.51 and a 12 month high of $4.25.

Synacor (NASDAQ:SYNC) last posted its quarterly earnings results on Wednesday, May 10th. The information services provider reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by $0.01. Synacor had a negative net margin of 12.80% and a negative return on equity of 39.99%. The business had revenue of $26.50 million for the quarter, compared to analysts’ expectations of $27.31 million. The business’s revenue for the quarter was down 12.5% compared to the same quarter last year. Analysts forecast that Synacor will post ($0.19) EPS for the current fiscal year.

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Several institutional investors have recently modified their holdings of SYNC. Cowen Prime Services LLC increased its position in shares of Synacor by 67.0% in the second quarter. Cowen Prime Services LLC now owns 58,525 shares of the information services provider’s stock valued at $214,000 after buying an additional 23,472 shares during the period. Prudential Financial Inc. purchased a new position in shares of Synacor during the second quarter valued at approximately $274,000. Northpointe Capital LLC purchased a new position in shares of Synacor during the second quarter valued at approximately $914,000. New Jersey Better Educational Savings Trust increased its position in shares of Synacor by 22.0% in the second quarter. New Jersey Better Educational Savings Trust now owns 122,000 shares of the information services provider’s stock valued at $445,000 after buying an additional 22,000 shares during the period. Finally, Boston Partners purchased a new position in shares of Synacor during the second quarter valued at approximately $1,122,000. 14.43% of the stock is owned by hedge funds and other institutional investors.

Synacor Company Profile

Synacor, Inc is a technology development, multiplatform services and revenue partner for video, Internet and communications providers, device manufacturers and enterprises. The Company enables its customers to provide their consumers engaging, multiscreen experiences with products that require scale, actionable data and implementation.

Analyst Recommendations for Synacor (NASDAQ:SYNC)

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