Equities research analysts predict that Synchronoss Technologies, Inc. (NASDAQ:SNCR) will report earnings of ($0.50) per share for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Synchronoss Technologies’ earnings, with the highest EPS estimate coming in at ($0.44) and the lowest estimate coming in at ($0.56). Synchronoss Technologies posted earnings per share of ($0.48) during the same quarter last year, which suggests a negative year-over-year growth rate of 4.2%. The company is scheduled to announce its next quarterly earnings results on Thursday, August 8th.

According to Zacks, analysts expect that Synchronoss Technologies will report full year earnings of ($1.40) per share for the current year, with EPS estimates ranging from ($1.54) to ($1.26). For the next financial year, analysts anticipate that the business will post earnings of ($1.17) per share, with EPS estimates ranging from ($1.42) to ($0.92). Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that follow Synchronoss Technologies.

Synchronoss Technologies (NASDAQ:SNCR) last posted its earnings results on Thursday, May 9th. The software maker reported ($0.50) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.49) by ($0.01). Synchronoss Technologies had a negative return on equity of 76.17% and a negative net margin of 67.57%. The firm had revenue of $88.11 million for the quarter, compared to analyst estimates of $83.37 million.

A number of analysts have recently commented on SNCR shares. ValuEngine upgraded Synchronoss Technologies from a “hold” rating to a “buy” rating in a research report on Monday, April 1st. Zacks Investment Research upgraded Synchronoss Technologies from a “hold” rating to a “buy” rating and set a $6.75 target price on the stock in a research report on Tuesday, March 19th.

In related news, Chairman Stephen G. Waldis sold 8,880 shares of the business’s stock in a transaction dated Thursday, February 21st. The stock was sold at an average price of $8.13, for a total value of $72,194.40. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Stephen G. Waldis sold 6,539 shares of the business’s stock in a transaction dated Tuesday, February 26th. The shares were sold at an average price of $7.79, for a total value of $50,938.81. The disclosure for this sale can be found here. Insiders sold a total of 35,813 shares of company stock worth $284,178 in the last 90 days. 34.90% of the stock is currently owned by insiders.

Hedge funds have recently modified their holdings of the stock. Elk Creek Partners LLC acquired a new position in Synchronoss Technologies during the 4th quarter worth approximately $19,951,000. Dimensional Fund Advisors LP increased its position in Synchronoss Technologies by 13.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,696,435 shares of the software maker’s stock worth $10,314,000 after purchasing an additional 196,476 shares during the period. Columbia Pacific Advisors LLC acquired a new position in Synchronoss Technologies during the 4th quarter worth approximately $8,975,000. State of New Jersey Common Pension Fund D acquired a new position in Synchronoss Technologies during the 4th quarter worth approximately $7,675,000. Finally, First Washington CORP acquired a new position in Synchronoss Technologies during the 4th quarter worth approximately $4,091,000. Hedge funds and other institutional investors own 38.52% of the company’s stock.

Shares of SNCR traded down $0.16 during midday trading on Friday, reaching $6.42. 169,790 shares of the stock were exchanged, compared to its average volume of 307,684. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.21 and a current ratio of 1.16. Synchronoss Technologies has a twelve month low of $3.90 and a twelve month high of $8.49. The stock has a market capitalization of $275.30 million, a P/E ratio of -1.31 and a beta of 0.60.

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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