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

Synchronoss Technologies, Inc. (NASDAQ:SNCR) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $6.81 and traded as high as $8.97. Synchronoss Technologies shares last traded at $8.85, with a volume of 92,619 shares trading hands.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Roth Mkm lowered shares of Synchronoss Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 4th. Wall Street Zen lowered Synchronoss Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, December 6th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Synchronoss Technologies in a research report on Thursday, January 22nd. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce”.

Synchronoss Technologies Stock Performance

The company’s 50-day simple moving average is $8.42 and its 200-day simple moving average is $6.81. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 3.13. The stock has a market cap of $101.86 million, a price-to-earnings ratio of -8.68, a price-to-earnings-growth ratio of 0.58 and a beta of 1.41.

Hedge Funds Weigh In On Synchronoss Technologies

Several hedge funds and other institutional investors have recently modified their holdings of SNCR. Goldman Sachs Group Inc. grew its stake in shares of Synchronoss Technologies by 212.3% during the first quarter. Goldman Sachs Group Inc. now owns 32,600 shares of the software maker’s stock valued at $355,000 after purchasing an additional 22,160 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of Synchronoss Technologies during the 1st quarter valued at $260,000. Geode Capital Management LLC lifted its stake in shares of Synchronoss Technologies by 119.7% in the 2nd quarter. Geode Capital Management LLC now owns 235,606 shares of the software maker’s stock valued at $1,614,000 after purchasing an additional 128,375 shares during the period. Police & Firemen s Retirement System of New Jersey acquired a new position in Synchronoss Technologies during the second quarter valued at approximately $30,000. Finally, Integrated Quantitative Investments LLC increased its stake in Synchronoss Technologies by 155.9% in the second quarter. Integrated Quantitative Investments LLC now owns 42,157 shares of the software maker’s stock valued at $289,000 after purchasing an additional 25,682 shares in the last quarter. Institutional investors own 51.71% of the company’s stock.

Synchronoss Technologies Company Profile

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.