Roth Capital Analysts Decrease Earnings Estimates for SNCR

Synchronoss Technologies, Inc. (NASDAQ:SNCR) – Equities research analysts at Roth Capital reduced their FY2024 earnings per share (EPS) estimates for shares of Synchronoss Technologies in a report issued on Monday, November 25th. Roth Capital analyst R. Baldry now anticipates that the software maker will earn $0.10 per share for the year, down from their previous forecast of $0.74. Roth Capital currently has a “Strong-Buy” rating on the stock. The consensus estimate for Synchronoss Technologies’ current full-year earnings is $0.74 per share. Roth Capital also issued estimates for Synchronoss Technologies’ Q4 2024 earnings at ($0.04) EPS, Q1 2025 earnings at $0.03 EPS, Q2 2025 earnings at $0.04 EPS, Q3 2025 earnings at $0.05 EPS, Q4 2025 earnings at $0.06 EPS and FY2025 earnings at $0.17 EPS.

Several other analysts also recently weighed in on SNCR. Roth Mkm upgraded Synchronoss Technologies from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $11.00 to $13.00 in a research report on Monday. StockNews.com downgraded Synchronoss Technologies from a “buy” rating to a “hold” rating in a research report on Friday, August 16th.

Synchronoss Technologies Price Performance

Shares of SNCR stock opened at $9.81 on Thursday. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 5.75. Synchronoss Technologies has a twelve month low of $3.55 and a twelve month high of $15.46. The company has a market cap of $106.34 million, a P/E ratio of -2.53 and a beta of 1.99. The business has a fifty day simple moving average of $11.54 and a 200 day simple moving average of $10.86.

Insiders Place Their Bets

In other Synchronoss Technologies news, CEO Jeffrey George Miller sold 12,000 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $13.50, for a total value of $162,000.00. Following the completion of the transaction, the chief executive officer now owns 284,462 shares of the company’s stock, valued at $3,840,237. This represents a 4.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Martin Francis Bernstein sold 6,036 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $14.14, for a total value of $85,349.04. Following the completion of the transaction, the director now directly owns 48,498 shares of the company’s stock, valued at approximately $685,761.72. The trade was a 11.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 37,165 shares of company stock valued at $513,165 in the last 90 days. Corporate insiders own 17.90% of the company’s stock.

Institutional Investors Weigh In On Synchronoss Technologies

Institutional investors and hedge funds have recently made changes to their positions in the stock. Barclays PLC increased its stake in shares of Synchronoss Technologies by 603.6% in the third quarter. Barclays PLC now owns 5,734 shares of the software maker’s stock valued at $85,000 after buying an additional 4,919 shares during the period. GSA Capital Partners LLP acquired a new stake in shares of Synchronoss Technologies in the third quarter valued at about $165,000. XTX Topco Ltd acquired a new stake in shares of Synchronoss Technologies in the third quarter valued at about $237,000. State Street Corp increased its stake in shares of Synchronoss Technologies by 12.9% in the third quarter. State Street Corp now owns 35,075 shares of the software maker’s stock valued at $522,000 after buying an additional 4,000 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Synchronoss Technologies by 40.6% in the second quarter. Dimensional Fund Advisors LP now owns 70,504 shares of the software maker’s stock valued at $654,000 after buying an additional 20,368 shares during the period. Institutional investors and hedge funds own 51.71% of the company’s stock.

About Synchronoss Technologies

Synchronoss Technologies, Inc provides cloud, messaging, digital, and network management solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers Synchronoss Personal Cloud platform that allows customers' subscribers to backup and protect, engage with, and manage their personal content.