Synchronoss Technologies, Inc. (NASDAQ:SNCR) has been given a consensus rating of “Hold” by the twelve analysts that are covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $13.50.

SNCR has been the topic of a number of research reports. Raymond James Financial downgraded Synchronoss Technologies from an “outperform” rating to an “underperform” rating and set a $18.00 price target on the stock. in a research note on Tuesday, September 19th. Citigroup boosted their price objective on Synchronoss Technologies to $10.00 and gave the stock a “hold” rating in a report on Wednesday, September 20th. Stifel Nicolaus reissued a “hold” rating and set a $10.00 price objective (down from $16.00) on shares of Synchronoss Technologies in a report on Wednesday, September 20th. Deutsche Bank reissued a “hold” rating and set a $10.00 price objective (down from $18.00) on shares of Synchronoss Technologies in a report on Wednesday, September 20th. Finally, Zacks Investment Research lowered Synchronoss Technologies from a “hold” rating to a “sell” rating in a report on Wednesday, October 25th.

Synchronoss Technologies (SNCR) traded down $0.06 during mid-day trading on Monday, reaching $8.94. The company had a trading volume of 1,037,600 shares, compared to its average volume of 1,462,625. Synchronoss Technologies has a fifty-two week low of $8.48 and a fifty-two week high of $40.28. The firm has a market cap of $417.35, a P/E ratio of -7.10 and a beta of 1.55.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Elk Creek Partners LLC grew its holdings in shares of Synchronoss Technologies by 3.5% in the third quarter. Elk Creek Partners LLC now owns 2,420,323 shares of the software maker’s stock valued at $22,582,000 after acquiring an additional 81,228 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Synchronoss Technologies by 29.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,357,569 shares of the software maker’s stock valued at $38,782,000 after acquiring an additional 540,181 shares in the last quarter. State Street Corp grew its holdings in shares of Synchronoss Technologies by 8.1% in the second quarter. State Street Corp now owns 1,054,586 shares of the software maker’s stock valued at $17,346,000 after acquiring an additional 78,729 shares in the last quarter. Smith Graham & Co. Investment Advisors LP grew its holdings in shares of Synchronoss Technologies by 11.6% in the third quarter. Smith Graham & Co. Investment Advisors LP now owns 763,638 shares of the software maker’s stock valued at $7,125,000 after acquiring an additional 79,300 shares in the last quarter. Finally, Kennedy Capital Management Inc. grew its holdings in shares of Synchronoss Technologies by 32.4% in the second quarter. Kennedy Capital Management Inc. now owns 688,652 shares of the software maker’s stock valued at $11,328,000 after acquiring an additional 168,493 shares in the last quarter. 68.17% of the stock is owned by hedge funds and other institutional investors.

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Synchronoss Technologies Company Profile

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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