Synchronoss Technologies, Inc. $SNCR Shares Purchased by Ancora Advisors LLC

Key Points

• Ancora Advisors LLC increased its stake in Synchronoss Technologies by 762.4%, owning 146,871 shares valued at approximately $1.6 million as of the latest reporting period.
• Research analysts have recently downgraded Synchronoss Technologies, with Zacks Research changing its rating from "hold" to a "strong sell", and the average analyst rating is now "Moderate Buy" with a price target of $13.00.
• Synchronoss Technologies reported earnings of $0.10 per share for the most recent quarter, falling short of the expected $0.25 and reflecting a negative net margin of 12.36%.

Ancora Advisors LLC increased its holdings in Synchronoss Technologies, Inc. (NASDAQ:SNCR - Free Report) by 762.4% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 146,871 shares of the software maker's stock after buying an additional 129,840 shares during the period. Ancora Advisors LLC owned about 1.28% of Synchronoss Technologies worth $1,599,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Trexquant Investment LP boosted its position in shares of Synchronoss Technologies by 167.5% in the 1st quarter. Trexquant Investment LP now owns 48,001 shares of the software maker's stock worth $523,000 after buying an additional 30,056 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in Synchronoss Technologies in the 1st quarter valued at about $914,000. Informed Momentum Co LLC purchased a new position in Synchronoss Technologies in the 1st quarter valued at about $569,000. Mackenzie Financial Corp purchased a new position in Synchronoss Technologies in the 4th quarter valued at about $295,000. Finally, Two Sigma Advisers LP purchased a new position in Synchronoss Technologies in the 4th quarter valued at about $404,000. 51.71% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SNCR has been the topic of a number of recent research reports. Zacks Research lowered shares of Synchronoss Technologies from a "hold" rating to a "strong sell" rating in a report on Monday, August 25th. Wall Street Zen lowered shares of Synchronoss Technologies from a "buy" rating to a "hold" rating in a report on Saturday, August 16th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Synchronoss Technologies has an average rating of "Moderate Buy" and a consensus price target of $13.00.

Synchronoss Technologies Trading Down 1.2%

Shares of NASDAQ SNCR traded down $0.07 on Wednesday, reaching $5.62. 8,012 shares of the company traded hands, compared to its average volume of 88,698. Synchronoss Technologies, Inc. has a fifty-two week low of $5.25 and a fifty-two week high of $15.46. The company has a 50 day moving average of $6.97 and a 200 day moving average of $8.19. The company has a current ratio of 1.72, a quick ratio of 1.72 and a debt-to-equity ratio of 3.67. The stock has a market capitalization of $64.64 million, a PE ratio of -2.69 and a beta of 1.65.

Synchronoss Technologies (NASDAQ:SNCR - Get Free Report) last posted its quarterly earnings data on Monday, August 11th. The software maker reported $0.10 EPS for the quarter, missing analysts' consensus estimates of $0.25 by ($0.15). The company had revenue of $42.49 million for the quarter, compared to analyst estimates of $42.79 million. Synchronoss Technologies had a negative net margin of 12.36% and a negative return on equity of 3.77%. Synchronoss Technologies has set its FY 2025 guidance at EPS. On average, equities research analysts forecast that Synchronoss Technologies, Inc. will post 0.1 earnings per share for the current fiscal year.

Synchronoss Technologies Company Profile

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.