Shares of Synchronoss Technologies, Inc. (NASDAQ:SNCR) have earned an average recommendation of “Hold” from the twelve ratings firms that are presently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and one has given a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $16.00.

Several research analysts have commented on the company. Zacks Investment Research raised Synchronoss Technologies from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 25th. Deutsche Bank AG reissued a “hold” rating and set a $10.00 target price (down previously from $18.00) on shares of Synchronoss Technologies in a research note on Wednesday, September 20th. Citigroup Inc. boosted their target price on Synchronoss Technologies to $10.00 and gave the stock a “hold” rating in a research note on Wednesday, September 20th. Raymond James Financial, Inc. downgraded Synchronoss Technologies from an “outperform” rating to an “underperform” rating and set a $18.00 target price for the company. in a research note on Tuesday, September 19th. Finally, BidaskClub downgraded Synchronoss Technologies from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 9th.

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Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. grew its holdings in shares of Synchronoss Technologies by 155,453.2% during the first quarter. BlackRock Inc. now owns 5,134,811 shares of the software maker’s stock worth $125,291,000 after purchasing an additional 5,131,510 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Synchronoss Technologies by 4.2% during the first quarter. Vanguard Group Inc. now owns 3,652,395 shares of the software maker’s stock worth $89,119,000 after purchasing an additional 148,136 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Synchronoss Technologies by 29.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,357,569 shares of the software maker’s stock worth $38,782,000 after purchasing an additional 540,181 shares during the last quarter. Elk Creek Partners LLC grew its holdings in shares of Synchronoss Technologies by 11.7% during the second quarter. Elk Creek Partners LLC now owns 2,339,095 shares of the software maker’s stock worth $38,478,000 after purchasing an additional 245,056 shares during the last quarter. Finally, State Street Corp grew its holdings in shares of Synchronoss Technologies by 8.1% during the second quarter. State Street Corp now owns 1,054,586 shares of the software maker’s stock worth $17,346,000 after purchasing an additional 78,729 shares during the last quarter. Institutional investors own 74.06% of the company’s stock.

Synchronoss Technologies (SNCR) traded down 2.63% during midday trading on Wednesday, hitting $11.09. 1,361,954 shares of the stock traded hands. The firm’s 50 day moving average is $13.01 and its 200-day moving average is $15.61. The stock has a market capitalization of $487.77 million, a PE ratio of 24.64 and a beta of 1.61. Synchronoss Technologies has a 12-month low of $8.71 and a 12-month high of $49.94.

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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