Equities analysts predict that Synchronoss Technologies, Inc. (NASDAQ:SNCR) will announce sales of $91.16 million for the current quarter, Zacks reports. Two analysts have provided estimates for Synchronoss Technologies’ earnings, with the highest sales estimate coming in at $92.01 million and the lowest estimate coming in at $90.31 million. Synchronoss Technologies posted sales of $82.10 million in the same quarter last year, which would indicate a positive year over year growth rate of 11%. The firm is scheduled to report its next quarterly earnings report on Tuesday, March 10th.
According to Zacks, analysts expect that Synchronoss Technologies will report full-year sales of $309.32 million for the current year, with estimates ranging from $308.47 million to $310.17 million. For the next year, analysts anticipate that the firm will report sales of $339.74 million, with estimates ranging from $339.10 million to $340.38 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Synchronoss Technologies.
Synchronoss Technologies (NASDAQ:SNCR) last posted its quarterly earnings results on Monday, November 4th. The software maker reported ($0.62) EPS for the quarter, missing the consensus estimate of ($0.40) by ($0.22). The firm had revenue of $52.21 million during the quarter, compared to analyst estimates of $88.50 million. Synchronoss Technologies had a negative net margin of 66.53% and a negative return on equity of 99.39%. The company’s revenue was down 37.3% on a year-over-year basis. During the same period last year, the company earned ($0.72) EPS.
Several research firms have commented on SNCR. Canaccord Genuity reaffirmed a “buy” rating and issued a $13.00 price target on shares of Synchronoss Technologies in a report on Thursday. Zacks Investment Research raised Synchronoss Technologies from a “sell” rating to a “hold” rating in a report on Wednesday.
In other news, CFO David D. Clark purchased 10,000 shares of the business’s stock in a transaction on Friday, November 15th. The stock was purchased at an average price of $4.53 per share, with a total value of $45,300.00. Corporate insiders own 30.50% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. raised its holdings in shares of Synchronoss Technologies by 1,394.4% in the 2nd quarter. BlackRock Inc. now owns 2,048,925 shares of the software maker’s stock worth $16,207,000 after buying an additional 1,911,821 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Synchronoss Technologies by 106.8% in the 2nd quarter. Vanguard Group Inc. now owns 1,205,330 shares of the software maker’s stock worth $9,534,000 after buying an additional 622,345 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of Synchronoss Technologies by 87.7% in the 2nd quarter. Renaissance Technologies LLC now owns 873,219 shares of the software maker’s stock worth $6,907,000 after buying an additional 407,926 shares in the last quarter. State Street Corp raised its holdings in shares of Synchronoss Technologies by 25.6% in the 3rd quarter. State Street Corp now owns 744,012 shares of the software maker’s stock worth $4,018,000 after buying an additional 151,679 shares in the last quarter. Finally, California Public Employees Retirement System raised its holdings in shares of Synchronoss Technologies by 4.2% in the 3rd quarter. California Public Employees Retirement System now owns 204,081 shares of the software maker’s stock worth $1,102,000 after buying an additional 8,240 shares in the last quarter. 54.94% of the stock is owned by institutional investors and hedge funds.
Synchronoss Technologies stock traded down $0.14 during trading hours on Friday, hitting $5.73. The stock had a trading volume of 307,065 shares, compared to its average volume of 407,278. The company has a 50-day moving average of $4.68 and a two-hundred day moving average of $6.27. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.74. The company has a market cap of $264.53 million, a PE ratio of -1.17 and a beta of 0.46. Synchronoss Technologies has a fifty-two week low of $3.72 and a fifty-two week high of $9.05.
About Synchronoss Technologies
Synchronoss Technologies, Inc provides cloud, digital, messaging, and Internet of things platforms, products, and solutions worldwide. Its products and services include cloud-based sync, backup, storage and content engagement capabilities, broadband connectivity solutions, analytics, white label messaging, and identity/access management that enable communications service providers, cable operators/multi-services operators, original equipment manufacturers with embedded connectivity, and multi-channel retailers, as well as other customers to accelerate and monetize value-add services for secure and broadband networks and connected devices.
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