Synchronoss Technologies (NASDAQ:SNCR) Given "Sell (D-)" Rating at Weiss Ratings

Key Points

• Weiss Ratings has reissued a "Sell (D-)" rating for Synchronoss Technologies (NASDAQ:SNCR), indicating negative sentiment among analysts for the company's stock.
• Synchronoss Technologies reported a loss of $0.15 per share for the last quarter, missing analysts' expectations, along with revenue figures below consensus estimates.
• Institutional investors have increased their holdings in Synchronoss Technologies, with over 51% of the stock owned by institutional and hedge fund investors, signaling continued interest despite the company’s struggles.

Synchronoss Technologies (NASDAQ:SNCR - Get Free Report)'s stock had its "sell (d-)" rating reissued by stock analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

Several other equities research analysts have also issued reports on SNCR. 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 analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $13.00.

Synchronoss Technologies Trading Up 1.8%

Shares of SNCR stock opened at $5.66 on Wednesday. Synchronoss Technologies has a 1 year low of $5.25 and a 1 year high of $13.11. The firm's fifty day simple moving average is $6.32 and its 200 day simple moving average is $7.66. The firm has a market capitalization of $65.09 million, a P/E ratio of -2.71 and a beta of 1.55. The company has a current ratio of 1.72, a quick ratio of 1.72 and a debt-to-equity ratio of 3.67.

Synchronoss Technologies (NASDAQ:SNCR - Get Free Report) last announced its earnings results on Monday, August 11th. The software maker reported $0.10 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.25 by ($0.15). Synchronoss Technologies had a negative return on equity of 3.77% and a negative net margin of 12.36%.The company had revenue of $42.49 million for the quarter, compared to the consensus estimate of $42.79 million. Synchronoss Technologies has set its FY 2025 guidance at EPS. As a group, sell-side analysts predict that Synchronoss Technologies will post 0.1 EPS for the current year.

Institutional Investors Weigh In On Synchronoss Technologies

Institutional investors and hedge funds have recently made changes to their positions in the company. Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of Synchronoss Technologies in the 2nd quarter valued at $30,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Synchronoss Technologies in the 2nd quarter valued at $40,000. Osaic Holdings Inc. boosted its stake in shares of Synchronoss Technologies by 289.8% in the 2nd quarter. Osaic Holdings Inc. now owns 7,885 shares of the software maker's stock valued at $54,000 after purchasing an additional 5,862 shares in the last quarter. Headlands Technologies LLC boosted its stake in shares of Synchronoss Technologies by 195.0% in the 2nd quarter. Headlands Technologies LLC now owns 8,638 shares of the software maker's stock valued at $59,000 after purchasing an additional 5,710 shares in the last quarter. Finally, Silverberg Bernstein Capital Management LLC acquired a new stake in shares of Synchronoss Technologies in the 2nd quarter valued at $72,000. Institutional investors and hedge funds own 51.71% of the company's stock.

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.

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