Roth Capital Analysts Decrease Earnings Estimates for SNCR

Synchronoss Technologies, Inc. (NASDAQ:SNCR) – Research analysts at Roth Capital cut their FY2024 earnings per share (EPS) estimates for shares of Synchronoss Technologies in a research report issued to clients and investors on Monday, November 25th. Roth Capital analyst R. Baldry now forecasts that the software maker will post earnings of $0.10 per share for the year, down from their prior estimate of $0.74. Roth Capital currently has a “Strong-Buy” rating on the stock. The consensus estimate for Synchronoss Technologies’ current full-year earnings is $0.74 per share. Roth Capital also issued estimates for Synchronoss Technologies’ Q4 2024 earnings at ($0.04) EPS, Q1 2025 earnings at $0.03 EPS, Q2 2025 earnings at $0.04 EPS, Q3 2025 earnings at $0.05 EPS, Q4 2025 earnings at $0.06 EPS and FY2025 earnings at $0.17 EPS.

A number of other research firms have also weighed in on SNCR. StockNews.com lowered Synchronoss Technologies from a “buy” rating to a “hold” rating in a report on Friday, August 16th. Roth Mkm raised Synchronoss Technologies from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $11.00 to $13.00 in a report on Monday.

Synchronoss Technologies Stock Up 4.3 %

SNCR stock opened at $9.81 on Thursday. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 5.75. The firm has a market capitalization of $106.34 million, a PE ratio of -2.53 and a beta of 1.99. Synchronoss Technologies has a 1-year low of $3.55 and a 1-year high of $15.46. The business’s 50 day simple moving average is $11.54 and its 200 day simple moving average is $10.86.

Institutional Trading of Synchronoss Technologies

A number of institutional investors have recently modified their holdings of SNCR. Dimensional Fund Advisors LP lifted its position in shares of Synchronoss Technologies by 40.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 70,504 shares of the software maker’s stock valued at $654,000 after acquiring an additional 20,368 shares during the period. XTX Topco Ltd bought a new stake in shares of Synchronoss Technologies during the 3rd quarter valued at $237,000. Allspring Global Investments Holdings LLC lifted its position in shares of Synchronoss Technologies by 2.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 563,976 shares of the software maker’s stock valued at $8,395,000 after acquiring an additional 13,984 shares during the period. GSA Capital Partners LLP bought a new stake in shares of Synchronoss Technologies during the 3rd quarter valued at $165,000. Finally, Renaissance Technologies LLC lifted its position in shares of Synchronoss Technologies by 9.3% during the 2nd quarter. Renaissance Technologies LLC now owns 78,974 shares of the software maker’s stock valued at $734,000 after acquiring an additional 6,700 shares during the period. 51.71% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Synchronoss Technologies

In other Synchronoss Technologies news, CEO Jeffrey George Miller sold 12,000 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $13.50, for a total value of $162,000.00. Following the transaction, the chief executive officer now directly owns 284,462 shares of the company’s stock, valued at $3,840,237. This represents a 4.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Patrick Joseph Doran sold 3,250 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $14.77, for a total value of $48,002.50. Following the completion of the transaction, the executive vice president now directly owns 107,483 shares in the company, valued at approximately $1,587,523.91. This represents a 2.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 37,165 shares of company stock valued at $513,165 in the last ninety days. 17.90% of the stock is currently owned by corporate insiders.

About Synchronoss Technologies

Synchronoss Technologies, Inc provides cloud, messaging, digital, and network management solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers Synchronoss Personal Cloud platform that allows customers' subscribers to backup and protect, engage with, and manage their personal content.