Synacor’s (SYNC) “Neutral” Rating Reiterated at Rosenblatt Securities

Synacor (NASDAQ:SYNC)‘s stock had its “neutral” rating reaffirmed by analysts at Rosenblatt Securities in a note issued to investors on Friday, Marketbeat reports.

Other equities research analysts have also issued research reports about the company. UBS Group lowered Synacor from a “buy” rating to a “neutral” rating in a research report on Friday. Zacks Investment Research lowered Synacor from a “buy” rating to a “hold” rating in a research report on Thursday, July 26th. Finally, ValuEngine upgraded Synacor from a “hold” rating to a “buy” rating in a research report on Thursday, November 1st. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $3.50.

Synacor stock traded down $0.17 during mid-day trading on Friday, hitting $1.59. The company had a trading volume of 410,260 shares, compared to its average volume of 111,923. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.04. Synacor has a 12-month low of $1.35 and a 12-month high of $2.70. The firm has a market cap of $68.97 million, a PE ratio of -5.89 and a beta of 0.11.

Synacor (NASDAQ:SYNC) last released its quarterly earnings data on Thursday, November 8th. The information services provider reported ($0.06) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.06). Synacor had a negative return on equity of 11.18% and a negative net margin of 3.18%. The business had revenue of $35.64 million for the quarter. On average, equities research analysts forecast that Synacor will post -0.1 EPS for the current year.

Several large investors have recently made changes to their positions in the company. Renaissance Technologies LLC lifted its position in shares of Synacor by 5.8% during the 2nd quarter. Renaissance Technologies LLC now owns 1,379,300 shares of the information services provider’s stock valued at $2,759,000 after buying an additional 75,700 shares in the last quarter. Cowen Prime Services LLC lifted its position in shares of Synacor by 47.7% during the 2nd quarter. Cowen Prime Services LLC now owns 309,851 shares of the information services provider’s stock valued at $620,000 after buying an additional 100,094 shares in the last quarter. NJ State Employees Deferred Compensation Plan purchased a new position in shares of Synacor during the 2nd quarter valued at approximately $380,000. Finally, Raffles Associates LP purchased a new position in shares of Synacor during the 2nd quarter valued at approximately $160,000. Hedge funds and other institutional investors own 26.57% of the company’s stock.

About Synacor

Synacor, Inc operates as a technology development, multiplatform services, and revenue partner for video, Internet, and communications providers; and device manufacturers, governments, and enterprises. It enables its customers to provide their consumers engaging, multiscreen experiences with products that require scale, and actionable data and implementation.

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