Synchronoss Technologies, Inc. (SNCR) Downgraded by BidaskClub to “Strong Sell”

BidaskClub lowered shares of Synchronoss Technologies, Inc. (NASDAQ:SNCR) from a sell rating to a strong sell rating in a research report released on Wednesday.

SNCR has been the subject of a number of other research reports. Deutsche Bank AG reissued a hold rating and issued a $15.00 target price (down previously from $35.00) on shares of Synchronoss Technologies in a research report on Saturday, April 29th. ValuEngine cut shares of Synchronoss Technologies from a buy rating to a hold rating in a research report on Friday, June 2nd. J P Morgan Chase & Co cut shares of Synchronoss Technologies from an overweight rating to a neutral rating and reduced their target price for the company from $65.00 to $27.00 in a research report on Thursday, April 27th. Wells Fargo & Company cut shares of Synchronoss Technologies from an outperform rating to a market perform rating in a research report on Thursday, April 27th. Finally, Credit Suisse Group cut shares of Synchronoss Technologies from a neutral rating to an underperform rating and set a $13.00 target price for the company. in a research report on Monday, May 22nd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $24.00.

Synchronoss Technologies (NASDAQ SNCR) traded up 0.24% during trading on Wednesday, hitting $16.65. 363,018 shares of the stock were exchanged. The stock’s market capitalization is $772.09 million. Synchronoss Technologies has a 52 week low of $10.11 and a 52 week high of $49.94. The firm has a 50-day moving average of $16.38 and a 200-day moving average of $21.35.

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A number of large investors have recently bought and sold shares of the company. Municipal Employees Retirement System of Michigan increased its position in Synchronoss Technologies by 1.2% in the first quarter. Municipal Employees Retirement System of Michigan now owns 9,630 shares of the software maker’s stock valued at $235,000 after buying an additional 110 shares in the last quarter. State of Alaska Department of Revenue increased its position in Synchronoss Technologies by 4.0% in the first quarter. State of Alaska Department of Revenue now owns 4,720 shares of the software maker’s stock valued at $115,000 after buying an additional 180 shares in the last quarter. Louisiana State Employees Retirement System increased its position in Synchronoss Technologies by 1.1% in the second quarter. Louisiana State Employees Retirement System now owns 17,600 shares of the software maker’s stock valued at $290,000 after buying an additional 200 shares in the last quarter. Arizona State Retirement System increased its position in Synchronoss Technologies by 0.9% in the second quarter. Arizona State Retirement System now owns 22,522 shares of the software maker’s stock valued at $370,000 after buying an additional 200 shares in the last quarter. Finally, Texas Permanent School Fund increased its position in Synchronoss Technologies by 0.8% in the first quarter. Texas Permanent School Fund now owns 30,973 shares of the software maker’s stock valued at $756,000 after buying an additional 236 shares in the last quarter. 90.44% of the stock is owned by institutional investors and hedge funds.

About Synchronoss Technologies

Synchronoss Technologies, Inc is a global software and services company, which provides technologies and services for the mobile transformation of business. The Company’s portfolio in the Consumer and Enterprise markets contains offerings, such as personal cloud, secure-mobility, identity management and scalable messaging platforms, products and solutions.

Analyst Recommendations for Synchronoss Technologies (NASDAQ:SNCR)

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