Synchronoss Technologies, Inc. (SNCR) Expected to Post Earnings of -$0.53 Per Share

Wall Street brokerages expect Synchronoss Technologies, Inc. (NASDAQ:SNCR) to announce ($0.53) earnings per share for the current quarter, Zacks reports. Two analysts have made estimates for Synchronoss Technologies’ earnings, with estimates ranging from ($0.65) to ($0.41). The firm is expected to report its next earnings report after the market closes on Wednesday, November 7th.

According to Zacks, analysts expect that Synchronoss Technologies will report full-year earnings of ($1.96) per share for the current year, with EPS estimates ranging from ($2.19) to ($1.72). For the next fiscal year, analysts forecast that the company will report earnings of ($1.26) per share, with EPS estimates ranging from ($1.54) to ($0.97). Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that follow Synchronoss Technologies.

Synchronoss Technologies (NASDAQ:SNCR) last released its earnings results on Thursday, August 9th. The software maker reported ($0.68) earnings per share for the quarter, beating the consensus estimate of ($0.70) by $0.02. Synchronoss Technologies had a negative net margin of 32.26% and a negative return on equity of 44.98%. The business had revenue of $76.74 million during the quarter, compared to analysts’ expectations of $78.00 million.



Several equities analysts recently weighed in on the stock. Stifel Nicolaus cut shares of Synchronoss Technologies from a “hold” rating to a “sell” rating and decreased their target price for the company from $8.00 to $3.00 in a research note on Monday, July 30th. Zacks Investment Research raised shares of Synchronoss Technologies from a “sell” rating to a “hold” rating in a research note on Saturday, September 29th. Finally, TheStreet cut shares of Synchronoss Technologies from a “c-” rating to a “d” rating in a research note on Monday, October 1st. Three research analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. Synchronoss Technologies presently has an average rating of “Sell” and a consensus target price of $7.75.

In related news, Director William J. Cadogan acquired 47,500 shares of Synchronoss Technologies stock in a transaction on Wednesday, August 29th. The stock was purchased at an average cost of $5.78 per share, with a total value of $274,550.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William J. Cadogan acquired 96,152 shares of Synchronoss Technologies stock in a transaction on Thursday, September 6th. The shares were bought at an average cost of $5.87 per share, with a total value of $564,412.24. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 200,000 shares of company stock valued at $1,130,281. Company insiders own 34.90% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in SNCR. Dynamic Technology Lab Private Ltd bought a new position in Synchronoss Technologies during the second quarter worth $258,000. Jane Street Group LLC bought a new position in Synchronoss Technologies during the first quarter worth $353,000. Russell Investments Group Ltd. boosted its position in Synchronoss Technologies by 44.3% during the first quarter. Russell Investments Group Ltd. now owns 107,091 shares of the software maker’s stock worth $1,130,000 after purchasing an additional 32,869 shares during the period. California Public Employees Retirement System lifted its holdings in shares of Synchronoss Technologies by 58.8% during the first quarter. California Public Employees Retirement System now owns 73,692 shares of the software maker’s stock worth $777,000 after buying an additional 27,292 shares in the last quarter. Finally, FNY Investment Advisers LLC acquired a new stake in shares of Synchronoss Technologies during the third quarter worth $171,000. 13.32% of the stock is owned by hedge funds and other institutional investors.

NASDAQ:SNCR opened at $5.85 on Tuesday. Synchronoss Technologies has a 1-year low of $3.90 and a 1-year high of $12.12. The company has a debt-to-equity ratio of 0.70, a quick ratio of 3.41 and a current ratio of 3.41.

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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