Zacks: Analysts Anticipate Synchronoss Technologies, Inc. (NASDAQ:SNCR) Will Post Earnings of -$0.25 Per Share

Wall Street brokerages expect that Synchronoss Technologies, Inc. (NASDAQ:SNCR) will post earnings per share (EPS) of ($0.25) for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Synchronoss Technologies’ earnings. The lowest EPS estimate is ($0.28) and the highest is ($0.22). Synchronoss Technologies reported earnings per share of ($0.28) during the same quarter last year, which would suggest a positive year-over-year growth rate of 10.7%. The company is expected to report its next quarterly earnings report before the market opens on Monday, August 10th.

On average, analysts expect that Synchronoss Technologies will report full-year earnings of ($0.40) per share for the current financial year, with EPS estimates ranging from ($0.57) to ($0.19). For the next year, analysts expect that the firm will post earnings of ($0.68) per share, with EPS estimates ranging from ($1.39) to $0.04. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side analysts that cover Synchronoss Technologies.

Synchronoss Technologies (NASDAQ:SNCR) last released its earnings results on Monday, May 11th. The software maker reported $0.06 EPS for the quarter, beating the consensus estimate of ($0.42) by $0.48. Synchronoss Technologies had a negative net margin of 29.32% and a negative return on equity of 26.69%. The firm had revenue of $77.12 million for the quarter, compared to analyst estimates of $74.00 million.

Several equities analysts have recently issued reports on the company. Roth Capital reiterated a “market perform” rating and issued a $9.00 price target on shares of Synchronoss Technologies in a research note on Thursday, June 18th. Northland Securities assumed coverage on Synchronoss Technologies in a research report on Friday, June 26th. They issued a “buy” rating and a $6.50 target price on the stock. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Synchronoss Technologies has a consensus rating of “Buy” and an average target price of $8.19.

In other news, CEO Glenn Lurie sold 20,243 shares of Synchronoss Technologies stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $3.50, for a total transaction of $70,850.50. Following the sale, the chief executive officer now directly owns 530,208 shares of the company’s stock, valued at $1,855,728. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO David D. Clark sold 17,942 shares of the business’s stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $3.30, for a total value of $59,208.60. Following the sale, the chief financial officer now owns 232,526 shares in the company, valued at $767,335.80. The disclosure for this sale can be found here. Insiders have sold 53,483 shares of company stock valued at $179,704 over the last quarter. Company insiders own 30.50% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vident Investment Advisory LLC bought a new position in shares of Synchronoss Technologies during the second quarter valued at $37,000. SG Americas Securities LLC purchased a new stake in Synchronoss Technologies during the first quarter worth about $43,000. Citigroup Inc. raised its position in Synchronoss Technologies by 164.0% in the first quarter. Citigroup Inc. now owns 19,616 shares of the software maker’s stock worth $60,000 after acquiring an additional 12,185 shares during the period. UBS Group AG boosted its stake in Synchronoss Technologies by 42.0% in the fourth quarter. UBS Group AG now owns 32,426 shares of the software maker’s stock valued at $154,000 after acquiring an additional 9,598 shares during the last quarter. Finally, Alliancebernstein L.P. grew its position in shares of Synchronoss Technologies by 134.9% during the 1st quarter. Alliancebernstein L.P. now owns 34,300 shares of the software maker’s stock valued at $105,000 after acquiring an additional 19,700 shares during the period. Hedge funds and other institutional investors own 51.69% of the company’s stock.

SNCR traded down $0.20 during trading on Friday, hitting $3.30. 436,310 shares of the stock traded hands, compared to its average volume of 410,781. The business has a 50 day moving average price of $3.39 and a 200 day moving average price of $3.82. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.95 and a quick ratio of 0.95. Synchronoss Technologies has a twelve month low of $2.17 and a twelve month high of $9.05. The company has a market cap of $146.98 million, a price-to-earnings ratio of -1.11 and a beta of 0.96.

Synchronoss Technologies Company Profile

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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