Deutsche Bank AG reissued their hold rating on shares of Synchronoss Technologies, Inc. (NASDAQ:SNCR) in a research note released on Wednesday. The brokerage currently has a $10.00 price target on the software maker’s stock, down from their previous price target of $18.00.

A number of other equities analysts have also recently issued reports on the stock. Stifel Nicolaus reaffirmed a hold rating and issued a $10.00 price objective (down from $16.00) on shares of Synchronoss Technologies in a research note on Wednesday. Citigroup Inc. raised their price objective on shares of Synchronoss Technologies to $10.00 and gave the company a hold rating in a research note on Wednesday. Raymond James Financial, Inc. cut shares of Synchronoss Technologies from an outperform rating to an underperform rating and set a $18.00 price objective on the stock. in a research note on Tuesday, September 19th. BidaskClub raised shares of Synchronoss Technologies from a strong sell rating to a sell rating in a research note on Thursday, August 17th. Finally, Zacks Investment Research raised shares of Synchronoss Technologies from a strong sell rating to a hold rating in a research note on Tuesday, July 25th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the stock. Synchronoss Technologies currently has a consensus rating of Hold and a consensus target price of $20.13.

Synchronoss Technologies (SNCR) opened at 9.20 on Wednesday. The firm has a 50 day moving average price of $16.42 and a 200 day moving average price of $17.82. The company has a market cap of $404.64 million, a PE ratio of 20.44 and a beta of 1.69. Synchronoss Technologies has a 12-month low of $8.71 and a 12-month high of $49.94.

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Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. boosted its position 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 in the last quarter. Vanguard Group Inc. boosted its position 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 in the last quarter. Dimensional Fund Advisors LP boosted its position 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 in the last quarter. Elk Creek Partners LLC boosted its position 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 in the last quarter. Finally, State Street Corp boosted its position 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 in the last quarter. 74.06% of the stock is currently owned by institutional investors.

About Synchronoss Technologies

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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