Wall Street analysts predict that Synchronoss Technologies, Inc. (NASDAQ:SNCR – Get Rating) will post sales of $66.16 million for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Synchronoss Technologies’ earnings, with the lowest sales estimate coming in at $65.94 million and the highest estimate coming in at $66.33 million. Synchronoss Technologies reported sales of $71.53 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 7.5%. The firm is scheduled to report its next earnings results on Monday, January 1st.
According to Zacks, analysts expect that Synchronoss Technologies will report full-year sales of $265.51 million for the current financial year, with estimates ranging from $264.70 million to $266.83 million. For the next year, analysts expect that the firm will post sales of $279.01 million, with estimates ranging from $275.00 million to $283.02 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Synchronoss Technologies.
Synchronoss Technologies (NASDAQ:SNCR – Get Rating) last posted its quarterly earnings data on Tuesday, May 10th. The software maker reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.02. Synchronoss Technologies had a negative net margin of 4.96% and a positive return on equity of 0.52%. The company had revenue of $65.87 million during the quarter, compared to analysts’ expectations of $65.44 million.
In other Synchronoss Technologies news, EVP Christopher K. Hill acquired 100,000 shares of the company’s stock in a transaction dated Friday, March 11th. The stock was acquired at an average cost of $1.19 per share, with a total value of $119,000.00. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Patrick Joseph Doran bought 45,000 shares of Synchronoss Technologies stock in a transaction that occurred on Monday, March 14th. The stock was bought at an average cost of $1.40 per share, for a total transaction of $63,000.00. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 334,422 shares of company stock worth $422,357. 30.70% of the stock is currently owned by insiders.
Large investors have recently added to or reduced their stakes in the business. Victory Capital Management Inc. purchased a new stake in shares of Synchronoss Technologies in the third quarter valued at $27,000. Qube Research & Technologies Ltd acquired a new position in shares of Synchronoss Technologies during the 4th quarter valued at about $37,000. Wedbush Securities Inc. acquired a new position in shares of Synchronoss Technologies during the 1st quarter valued at about $48,000. Mirabella Financial Services LLP purchased a new position in shares of Synchronoss Technologies during the 4th quarter worth about $73,000. Finally, JPMorgan Chase & Co. boosted its position in shares of Synchronoss Technologies by 3,033.0% in the fourth quarter. JPMorgan Chase & Co. now owns 30,202 shares of the software maker’s stock worth $73,000 after acquiring an additional 29,238 shares during the last quarter. Institutional investors own 51.06% of the company’s stock.
Shares of SNCR traded up $0.27 during mid-day trading on Wednesday, reaching $1.46. The stock had a trading volume of 449,292 shares, compared to its average volume of 207,997. The company has a current ratio of 1.27, a quick ratio of 1.28 and a debt-to-equity ratio of 1.59. The business’s fifty day moving average is $1.51 and its 200 day moving average is $2.03. Synchronoss Technologies has a 52-week low of $1.06 and a 52-week high of $3.99.
About Synchronoss Technologies (Get Rating)
Synchronoss Technologies, Inc provides cloud, messaging, digital, and network management platforms, products, and solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company's platforms, products, and solutions include content backup, view, manage, engage, transfer, and restore solutions in operating systems and devices; multi-channel messaging, peer-to-peer communications, and application-to-person commerce solutions; email solutions; customer journey and workflow design, development, orchestration, and experience management solutions; and telecom network infrastructure designing, procuring, managing, and optimizing solutions.
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