Synchronoss Technologies, Inc. (NASDAQ:SNCR) traded up 0% on Monday . The company traded as high as $9.46 and last traded at $9.44. 1,351,100 shares were traded during trading, an increase of 30% from the average session volume of 1,040,189 shares. The stock had previously closed at $9.44.
A number of equities research analysts have weighed in on the stock. Deutsche Bank reiterated a “hold” rating and set a $8.00 price target (down previously from $18.00) on shares of Synchronoss Technologies in a research note on Thursday, December 7th. Zacks Investment Research upgraded shares of Synchronoss Technologies from a “sell” rating to a “hold” rating in a research note on Wednesday, December 20th. BidaskClub downgraded shares of Synchronoss Technologies from a “sell” rating to a “strong sell” rating in a research note on Saturday, December 9th. Finally, Credit Suisse Group reiterated an “underperform” rating and set a $8.00 price target (down previously from $13.00) on shares of Synchronoss Technologies in a research note on Thursday, December 7th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the stock. Synchronoss Technologies currently has a consensus rating of “Hold” and an average price target of $16.57.
The company has a market cap of $438.68, a P/E ratio of -7.45 and a beta of 1.33.
Large investors have recently modified their holdings of the company. Crossmark Global Holdings Inc. acquired a new stake in shares of Synchronoss Technologies in the 3rd quarter valued at $113,000. SG Americas Securities LLC acquired a new stake in shares of Synchronoss Technologies in the 3rd quarter valued at $119,000. FNY Managed Accounts LLC acquired a new stake in shares of Synchronoss Technologies in the 3rd quarter valued at $149,000. Municipal Employees Retirement System of Michigan boosted its stake in shares of Synchronoss Technologies by 60.2% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 16,180 shares of the software maker’s stock valued at $151,000 after purchasing an additional 6,080 shares in the last quarter. Finally, Teacher Retirement System of Texas acquired a new stake in shares of Synchronoss Technologies in the 4th quarter valued at $149,000. Institutional investors own 69.14% of the company’s stock.
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Synchronoss Technologies Company Profile
Synchronoss Technologies, Inc is a global software and services company, which provides technologies and services for the mobile transformation of business. The Company’s portfolio in the Consumer and Enterprise markets contains offerings, such as personal cloud, secure-mobility, identity management and scalable messaging platforms, products and solutions.
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