Synchronoss Technologies (SNCR) Getting Somewhat Favorable News Coverage, Report Finds

News stories about Synchronoss Technologies (NASDAQ:SNCR) have trended somewhat positive this week, Accern Sentiment Analysis reports. The research firm ranks the sentiment of news coverage by analyzing more than twenty million blog and news sources in real time. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Synchronoss Technologies earned a daily sentiment score of 0.09 on Accern’s scale. Accern also assigned news stories about the software maker an impact score of 45.5774878344893 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the next several days.

Synchronoss Technologies stock traded down $0.18 during mid-day trading on Monday, hitting $10.37. The company’s stock had a trading volume of 256,933 shares, compared to its average volume of 941,646. The company has a market capitalization of $501.28, a PE ratio of 14.55 and a beta of 0.94. Synchronoss Technologies has a 12 month low of $6.51 and a 12 month high of $24.92.

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A number of research firms have recently issued reports on SNCR. Zacks Investment Research downgraded shares of Synchronoss Technologies from a “buy” rating to a “hold” rating in a report on Friday, March 23rd. Credit Suisse Group reaffirmed an “underperform” rating and set a $8.00 price objective (down from $13.00) on shares of Synchronoss Technologies in a report on Thursday, December 7th. Deutsche Bank reissued a “hold” rating and issued a $8.00 price target (down from $18.00) on shares of Synchronoss Technologies in a research note on Thursday, December 7th. Finally, BidaskClub downgraded shares of Synchronoss Technologies from a “sell” rating to a “strong sell” rating in a research note on Saturday, December 9th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $16.00.

In other Synchronoss Technologies news, Chairman Stephen G. Waldis sold 30,316 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $8.78, for a total value of $266,174.48. Following the completion of the sale, the chairman now directly owns 542,770 shares of the company’s stock, valued at $4,765,520.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Stephen G. Waldis sold 36,624 shares of the business’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $8.92, for a total transaction of $326,686.08. Following the completion of the sale, the chairman now directly owns 542,770 shares of the company’s stock, valued at $4,841,508.40. The disclosure for this sale can be found here. Insiders sold 98,776 shares of company stock valued at $876,377 over the last three months. 10.50% of the stock is currently owned by insiders.

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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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