Analysts Expect Synchronoss Technologies, Inc. (SNCR) Will Announce Quarterly Sales of $86.38 Million

Analysts predict that Synchronoss Technologies, Inc. (NASDAQ:SNCR) will post $86.38 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Synchronoss Technologies’ earnings. The lowest sales estimate is $86.26 million and the highest is $86.50 million. The business is expected to report its next earnings results on Wednesday, February 6th.

On average, analysts expect that Synchronoss Technologies will report full-year sales of $330.12 million for the current fiscal year, with estimates ranging from $330.00 million to $330.24 million. For the next year, analysts forecast that the business will report sales of $344.29 million, with estimates ranging from $343.58 million to $345.00 million. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Synchronoss Technologies.

Synchronoss Technologies (NASDAQ:SNCR) last posted its quarterly earnings results on Wednesday, November 7th. The software maker reported ($1.00) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.53) by ($0.47). Synchronoss Technologies had a negative return on equity of 48.08% and a negative net margin of 36.27%. The business had revenue of $83.30 million for the quarter, compared to the consensus estimate of $83.00 million. Synchronoss Technologies’s revenue for the quarter was down 8.5% compared to the same quarter last year.

Several equities research analysts have commented on the stock. Zacks Investment Research raised shares of Synchronoss Technologies from a “sell” rating to a “hold” rating in a research note on Saturday, September 29th. ValuEngine raised shares of Synchronoss Technologies from a “hold” rating to a “buy” rating in a research note on Thursday, November 1st. Stifel Nicolaus raised shares of Synchronoss Technologies from a “sell” rating to a “hold” rating and upped their target price for the company from $3.00 to $7.00 in a research note on Monday, December 10th. Finally, TheStreet downgraded shares of Synchronoss Technologies from a “c-” rating to a “d” rating in a research note on Monday, October 1st. One analyst has rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the stock. Synchronoss Technologies presently has an average rating of “Hold” and an average target price of $6.75.

NASDAQ:SNCR traded up $0.06 during trading hours on Friday, hitting $6.79. The stock had a trading volume of 276,611 shares, compared to its average volume of 258,435. Synchronoss Technologies has a one year low of $3.90 and a one year high of $12.12. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.03.

In related news, CFO David D. Clark purchased 10,000 shares of Synchronoss Technologies stock in a transaction dated Thursday, November 15th. The stock was bought at an average price of $5.94 per share, for a total transaction of $59,400.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Glenn Lurie sold 26,769 shares of the company’s stock in a transaction that occurred on Friday, November 16th. The shares were sold at an average price of $5.92, for a total transaction of $158,472.48. The disclosure for this sale can be found here. 34.90% of the stock is currently owned by corporate insiders.

A hedge fund recently bought a new stake in Synchronoss Technologies stock. Dynamic Technology Lab Private Ltd purchased a new stake in Synchronoss Technologies, Inc. (NASDAQ:SNCR) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 41,870 shares of the software maker’s stock, valued at approximately $258,000. Dynamic Technology Lab Private Ltd owned 0.10% of Synchronoss Technologies as of its most recent SEC filing. Hedge funds and other institutional investors own 0.45% of the company’s stock.

About Synchronoss Technologies

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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