Synacor, Inc. (SYNC) Stock Rating Lowered by Zacks Investment Research
Synacor, Inc. (NASDAQ:SYNC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Thursday.
According to Zacks, “Synacor, Inc. is a provider of solutions for delivery of online content and services. Synacor clients including cable, telecom, satellite and consumer electronics companies, use Synacor’s Platform to deliver TV shows, movies, music, news, games, sports, email, tech support and other value-added services to their end-customers, across multiple connected devices. Its platform includes Website design and development, unified registration and login (single sign-on), billing integration, personalization, video delivery capability, content management system, household management, toolbar and television listings. Synacor, Inc. is headquartered in Buffalo, New York. “
A number of other equities analysts have also recently weighed in on the company. ValuEngine raised Synacor from a “sell” rating to a “hold” rating in a report on Monday, September 11th. Rosenblatt Securities reissued a “buy” rating and set a $5.50 price objective on shares of Synacor in a report on Monday, June 12th. Craig Hallum cut Synacor from a “buy” rating to a “hold” rating and raised their price objective for the company from $3.55 to $4.00 in a report on Thursday, August 10th. Finally, Canaccord Genuity decreased their price objective on Synacor from $8.00 to $6.00 and set a “buy” rating on the stock in a report on Thursday, August 10th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $5.25.
Synacor (NASDAQ:SYNC) opened at 2.75 on Thursday. The firm’s market cap is $106.34 million. The firm’s 50-day moving average price is $2.58 and its 200 day moving average price is $3.32. Synacor has a 52 week low of $2.30 and a 52 week high of $4.25.
Synacor (NASDAQ:SYNC) last issued its quarterly earnings results on Wednesday, August 9th. The information services provider reported ($0.09) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.11) by $0.02. The firm had revenue of $31.22 million during the quarter, compared to the consensus estimate of $29.43 million. Synacor had a negative return on equity of 39.21% and a negative net margin of 13.14%. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. Equities analysts forecast that Synacor will post ($0.32) earnings per share for the current fiscal year.
WARNING: “Synacor, Inc. (SYNC) Stock Rating Lowered by Zacks Investment Research” was published by Watch List News and is owned by of Watch List News. If you are viewing this piece of content on another site, it was copied illegally and republished in violation of U.S. and international copyright and trademark legislation. The original version of this piece of content can be viewed at https://www.watchlistnews.com/synacor-inc-sync-stock-rating-lowered-by-zacks-investment-research/1609040.html.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp raised its holdings in shares of Synacor by 0.9% during the 1st quarter. Bank of New York Mellon Corp now owns 47,048 shares of the information services provider’s stock valued at $195,000 after buying an additional 400 shares in the last quarter. Acadian Asset Management LLC increased its stake in Synacor by 9.7% in the 2nd quarter. Acadian Asset Management LLC now owns 85,433 shares of the information services provider’s stock worth $312,000 after purchasing an additional 7,576 shares during the period. EAM Investors LLC increased its stake in Synacor by 5.4% in the 2nd quarter. EAM Investors LLC now owns 150,665 shares of the information services provider’s stock worth $550,000 after purchasing an additional 7,711 shares during the period. Northern Trust Corp increased its stake in Synacor by 27.5% in the 2nd quarter. Northern Trust Corp now owns 59,744 shares of the information services provider’s stock worth $218,000 after purchasing an additional 12,875 shares during the period. Finally, Renaissance Technologies LLC increased its stake in Synacor by 1.4% in the 1st quarter. Renaissance Technologies LLC now owns 1,160,600 shares of the information services provider’s stock worth $4,816,000 after purchasing an additional 16,400 shares during the period. 28.08% of the stock is currently owned by institutional investors.
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.
Receive News & Ratings for Synacor Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synacor Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.