Analysts expect that Synchronoss Technologies, Inc. (NASDAQ:SNCR) will report sales of $83.00 million for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Synchronoss Technologies’ earnings. The highest sales estimate is $84.00 million and the lowest is $82.00 million. The firm is scheduled to announce its next earnings report on Thursday, November 8th.

On average, analysts expect that Synchronoss Technologies will report full year sales of $329.73 million for the current fiscal year, with estimates ranging from $329.45 million to $330.00 million. For the next fiscal year, analysts anticipate that the business will post sales of $323.88 million, with estimates ranging from $305.00 million to $342.76 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Synchronoss Technologies.

Synchronoss Technologies (NASDAQ:SNCR) last issued its quarterly earnings data on Thursday, August 9th. The software maker reported ($0.68) earnings per share for the quarter, topping the consensus estimate of ($0.70) by $0.02. The business had revenue of $76.74 million during the quarter, compared to analysts’ expectations of $78.00 million.

SNCR has been the topic of a number of analyst reports. Stifel Nicolaus cut Synchronoss Technologies from a “hold” rating to a “sell” rating and cut their price target for the company from $8.00 to $3.00 in a research note on Monday, July 30th. Zacks Investment Research cut Synchronoss Technologies from a “hold” rating to a “sell” rating in a research report on Friday, August 10th. Four equities research analysts have rated the stock with a sell rating and one has given a hold rating to the company’s stock. The company has an average rating of “Sell” and a consensus price target of $7.75.

Shares of NASDAQ SNCR traded down $0.15 during mid-day trading on Friday, hitting $5.40. The company had a trading volume of 70,059 shares, compared to its average volume of 820,540. Synchronoss Technologies has a 1-year low of $3.90 and a 1-year high of $15.69.

In related news, Director William J. Cadogan acquired 56,348 shares of the stock in a transaction dated Thursday, August 16th. The stock was bought at an average cost of $5.17 per share, with a total value of $291,319.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director William J. Cadogan acquired 96,152 shares of the stock in a transaction dated Thursday, September 6th. The shares were bought at an average cost of $5.87 per share, with a total value of $564,412.24. The disclosure for this purchase can be found here. Insiders acquired a total of 200,000 shares of company stock valued at $1,130,281 over the last quarter. 10.50% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC acquired a new stake in shares of Synchronoss Technologies in the first quarter valued at approximately $119,000. Schwab Charles Investment Management Inc. boosted its holdings in Synchronoss Technologies by 10.1% during the first quarter. Schwab Charles Investment Management Inc. now owns 201,731 shares of the software maker’s stock worth $2,129,000 after buying an additional 18,587 shares in the last quarter. Aperio Group LLC bought a new stake in Synchronoss Technologies during the first quarter worth approximately $134,000. Northern Trust Corp boosted its holdings in Synchronoss Technologies by 1.7% during the first quarter. Northern Trust Corp now owns 570,568 shares of the software maker’s stock worth $6,019,000 after buying an additional 9,772 shares in the last quarter. Finally, California Public Employees Retirement System boosted its holdings in Synchronoss Technologies by 58.8% during the first quarter. California Public Employees Retirement System now owns 73,692 shares of the software maker’s stock worth $777,000 after buying an additional 27,292 shares in the last quarter. Hedge funds and other institutional investors own 80.41% of the company’s stock.

About Synchronoss Technologies

Synchronoss Technologies, Inc provides cloud solutions and software-based activation for connected devices worldwide. The company's products and services include cloud-based sync, backup, storage and content engagement capabilities, broadband connectivity solutions, analytics, white label messaging, and identity/access management that enable communications service providers, cable operators/multi-services operators, original equipment manufacturers with embedded connectivity, and multi-channel retailers, as well as other customers to accelerate and monetize value-add services for secure and broadband networks and connected devices.

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