Analysts forecast that Synchronoss Technologies, Inc. (NASDAQ:SNCR) will post earnings of ($0.47) per share for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Synchronoss Technologies’ earnings, with estimates ranging from ($0.56) to ($0.38). Synchronoss Technologies posted earnings per share of ($0.48) during the same quarter last year, which would indicate a positive year over year growth rate of 2.1%. The business is scheduled to issue its next earnings report on Thursday, August 8th.
According to Zacks, analysts expect that Synchronoss Technologies will report full-year earnings of ($1.40) per share for the current year, with EPS estimates ranging from ($1.54) to ($1.27). For the next fiscal year, analysts forecast that the firm will report earnings of ($1.29) per share, with EPS estimates ranging from ($1.42) to ($1.05). Zacks Investment Research’s EPS averages are an average based on a survey of research firms that that provide coverage for Synchronoss Technologies.
Synchronoss Technologies (NASDAQ:SNCR) last released its earnings results on Thursday, May 9th. The software maker reported ($0.50) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.49) by ($0.01). Synchronoss Technologies had a negative return on equity of 76.17% and a negative net margin of 67.57%. The company had revenue of $88.11 million for the quarter, compared to analyst estimates of $83.37 million.
Several research firms recently commented on SNCR. Zacks Investment Research cut Yatra Online from a “hold” rating to a “sell” rating in a research note on Saturday, July 6th. Roth Capital began coverage on Translate Bio in a research note on Tuesday, June 18th. They set a “buy” rating and a $25.00 target price for the company. Finally, ValuEngine cut Zumiez from a “hold” rating to a “sell” rating in a research note on Monday, May 13th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $8.92.
SNCR traded up $0.02 on Thursday, hitting $8.08. 1,377 shares of the company were exchanged, compared to its average volume of 339,367. Synchronoss Technologies has a twelve month low of $3.90 and a twelve month high of $8.56. The stock has a market capitalization of $360.63 million, a P/E ratio of -1.65 and a beta of 0.51. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.39. The business has a 50-day moving average price of $7.28.
Large investors have recently added to or reduced their stakes in the company. Optimum Investment Advisors acquired a new position in shares of Synchronoss Technologies during the 1st quarter worth about $30,000. United Services Automobile Association acquired a new position in shares of Synchronoss Technologies during the 4th quarter worth about $72,000. Jane Street Group LLC acquired a new position in shares of Synchronoss Technologies during the 4th quarter worth about $73,000. Deutsche Bank AG acquired a new position in shares of Synchronoss Technologies during the 4th quarter worth about $95,000. Finally, Alambic Investment Management L.P. acquired a new position in shares of Synchronoss Technologies during the 1st quarter worth about $98,000. 41.20% of the stock is owned by institutional investors and hedge funds.
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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