Synacor, Inc. (SYNC) Downgraded by TheStreet

TheStreet lowered shares of Synacor, Inc. (NASDAQ:SYNC) from a c- rating to a d rating in a research note released on Thursday, May 11th.

SYNC has been the topic of several other research reports. Lake Street Capital initiated coverage on shares of Synacor in a research note on Monday, February 13th. They set a buy rating and a $5.50 price objective on the stock. Craig Hallum began coverage on shares of Synacor in a research note on Monday, March 27th. They issued a buy rating and a $5.00 price target on the stock. Zacks Investment Research upgraded shares of Synacor from a hold rating to a buy rating and set a $4.00 price target on the stock in a research note on Wednesday, May 10th. Needham & Company LLC restated a hold rating on shares of Synacor in a research note on Thursday, March 16th. Finally, Rosenblatt Securities restated a buy rating and issued a $5.50 price target on shares of Synacor in a research note on Tuesday, April 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $5.10.

Synacor (SYNC) opened at 3.40 on Thursday. Synacor has a 12 month low of $2.51 and a 12 month high of $4.25. The company has a 50-day moving average price of $3.51 and a 200 day moving average price of $3.34. The firm’s market cap is $129.26 million.

Synacor (NASDAQ:SYNC) last released its quarterly earnings data on Wednesday, May 10th. The information services provider reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.20) by $0.01. The business had revenue of $26.50 million for the quarter, compared to analyst estimates of $27.31 million. Synacor had a negative return on equity of 39.99% and a negative net margin of 12.80%. The company’s revenue for the quarter was down 12.5% compared to the same quarter last year. Equities research analysts anticipate that Synacor will post ($0.19) EPS for the current year.

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Several hedge funds and other institutional investors have recently bought and sold shares of SYNC. Cowen Prime Services LLC boosted its position in Synacor by 52.7% in the first quarter. Cowen Prime Services LLC now owns 35,053 shares of the information services provider’s stock valued at $145,000 after buying an additional 12,100 shares during the period. Eagle Global Advisors LLC bought a new position in Synacor during the third quarter valued at about $178,000. Bank of New York Mellon Corp boosted its position in Synacor by 0.9% in the first 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 during the period. Geode Capital Management LLC boosted its position in Synacor by 5.5% in the first quarter. Geode Capital Management LLC now owns 136,640 shares of the information services provider’s stock valued at $567,000 after buying an additional 7,068 shares during the period. Finally, EAM Investors LLC bought a new position in Synacor during the first quarter valued at about $593,000. Institutional investors and hedge funds own 15.01% of the company’s stock.

About Synacor

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.

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