ValuEngine upgraded shares of Synacor, Inc. (NASDAQ:SYNC) from a sell rating to a hold rating in a report released on Tuesday morning.

Other equities analysts have also issued research reports about the stock. Canaccord Genuity began coverage on shares of Synacor in a research report on Tuesday, April 18th. They set a buy rating and a $8.00 target price for the company. Rosenblatt Securities reiterated a buy rating and set a $5.50 target price on shares of Synacor in a research report on Monday, June 12th. TheStreet lowered shares of Synacor from a c- rating to a d rating in a research report on Thursday, May 11th. Zacks Investment Research lowered shares of Synacor from a buy rating to a hold rating in a research report on Wednesday, May 17th. Finally, Craig Hallum assumed coverage on shares of Synacor in a research report on Monday, March 27th. They issued a buy rating and a $5.00 price objective for the company. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $5.10.

Shares of Synacor (NASDAQ SYNC) traded up 1.08% during mid-day trading on Tuesday, reaching $3.70. 48,244 shares of the company’s stock traded hands. The company’s market cap is $140.67 million. The firm has a 50-day moving average of $3.60 and a 200 day moving average of $3.44. Synacor has a 12-month low of $2.51 and a 12-month high of $4.25.

Synacor (NASDAQ:SYNC) last issued its earnings results on Wednesday, May 10th. The information services provider reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by $0.01. The business had revenue of $26.50 million for the quarter, compared to the consensus estimate of $27.31 million. Synacor had a negative return on equity of 39.99% and a negative net margin of 12.80%. The company’s revenue was down 12.5% compared to the same quarter last year. Equities analysts forecast that Synacor will post ($0.19) EPS for the current year.

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Institutional investors have recently added to or reduced their stakes in the stock. Cowen Prime Services LLC raised its position in Synacor by 52.7% in the first quarter. Cowen Prime Services LLC now owns 35,053 shares of the information services provider’s stock worth $145,000 after buying an additional 12,100 shares during the period. Bank of New York Mellon Corp raised its position in Synacor by 0.9% in the first quarter. Bank of New York Mellon Corp now owns 47,048 shares of the information services provider’s stock worth $195,000 after buying an additional 400 shares during the period. Acadian Asset Management LLC raised its position in Synacor by 9.7% in the second quarter. Acadian Asset Management LLC now owns 85,433 shares of the information services provider’s stock worth $312,000 after buying an additional 7,576 shares during the period. EAM Investors LLC purchased a new position in Synacor during the first quarter worth approximately $593,000. Finally, Diversified Investment Strategies LLC raised its position in Synacor by 2.4% in the first quarter. Diversified Investment Strategies LLC now owns 523,500 shares of the information services provider’s stock worth $2,173,000 after buying an additional 12,500 shares during the period. Institutional investors own 15.01% of the company’s stock.

Synacor Company Profile

Synacor, Inc is a technology development, multiplatform services and revenue partner for video, Internet and communications providers, device manufacturers and enterprises. The Company enables its customers to provide their consumers engaging, multiscreen experiences with products that require scale, actionable data and implementation.

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Analyst Recommendations for Synacor (NASDAQ:SYNC)

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