Northland Securities began coverage on shares of Synchronoss Technologies (NASDAQ:SNCR) in a research report sent to investors on Friday morning, TipRanks reports. The firm issued a buy rating and a $6.50 target price on the software maker’s stock.

A number of other research analysts have also recently commented on SNCR. Canaccord Genuity reiterated a buy rating and issued a $13.00 price target on shares of Synchronoss Technologies in a research note on Tuesday, March 10th. ValuEngine cut Synchronoss Technologies from a strong-buy rating to a buy rating in a research note on Wednesday, March 18th. 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. Finally, Zacks Investment Research upgraded Synchronoss Technologies from a hold rating to a buy rating and set a $4.25 price target for the company in a research note on Saturday, March 21st. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Synchronoss Technologies presently has a consensus rating of Buy and a consensus target price of $8.19.

NASDAQ SNCR opened at $3.53 on Friday. The business has a fifty day moving average price of $2.94 and a two-hundred day moving average price of $4.04. 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 fifty-two week low of $2.17 and a fifty-two week high of $9.05. The stock has a market capitalization of $151.00 million, a PE ratio of -1.19 and a beta of 0.91.

Synchronoss Technologies (NASDAQ:SNCR) last released its earnings results on Monday, May 11th. The software maker reported $0.06 earnings per share for the quarter, topping the consensus estimate of ($0.42) by $0.48. Synchronoss Technologies had a negative return on equity of 26.69% and a negative net margin of 29.32%. The firm had revenue of $77.12 million during the quarter, compared to analysts’ expectations of $74.00 million. As a group, sell-side analysts expect that Synchronoss Technologies will post -0.85 earnings per share for the current year.

In related news, CEO Glenn Lurie sold 20,243 shares of the stock in a transaction on Monday, June 8th. The stock was sold at an average price of $3.50, for a total value of $70,850.50. Following the completion of the sale, the chief executive officer now directly owns 530,208 shares in the company, valued at $1,855,728. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 36,933 shares of company stock valued at $125,131 over the last 90 days. 30.50% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of SNCR. JPMorgan Chase & Co. increased its holdings in Synchronoss Technologies by 46.1% in the first quarter. JPMorgan Chase & Co. now owns 1,685,601 shares of the software maker’s stock valued at $5,141,000 after purchasing an additional 531,595 shares during the period. Mackay Shields LLC acquired a new stake in Synchronoss Technologies during the 1st quarter worth about $851,000. Norges Bank acquired a new stake in Synchronoss Technologies during the 4th quarter worth about $1,247,000. Jacobs Levy Equity Management Inc. grew its holdings in Synchronoss Technologies by 60.9% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 644,428 shares of the software maker’s stock worth $3,061,000 after acquiring an additional 244,032 shares during the period. Finally, AXA grew its holdings in Synchronoss Technologies by 279.4% during the 4th quarter. AXA now owns 134,700 shares of the software maker’s stock worth $640,000 after acquiring an additional 99,200 shares during the period. Institutional investors and hedge funds own 53.24% of the company’s stock.

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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