Synchronoss Technologies’ (SNCR) “Hold” Rating Reiterated at Deutsche Bank AG

Deutsche Bank AG reaffirmed their hold rating on shares of Synchronoss Technologies, Inc. (NASDAQ:SNCR) in a report published on Monday. Deutsche Bank AG currently has a $18.00 target price on the software maker’s stock, up from their prior target price of $10.00.

Several other research firms have also weighed in on SNCR. Raymond James Financial, Inc. lowered Synchronoss Technologies from an outperform rating to an underperform rating and set a $18.00 price target on the stock. in a research report on Tuesday, September 19th. BidaskClub raised Synchronoss Technologies from a strong sell rating to a sell rating in a research report on Thursday, August 17th. Zacks Investment Research raised Synchronoss Technologies from a strong sell rating to a hold rating in a research report on Tuesday, July 25th. Stifel Nicolaus reissued a hold rating and set a $16.00 price target on shares of Synchronoss Technologies in a research report on Friday, June 23rd. Finally, Drexel Hamilton lowered Synchronoss Technologies from a buy rating to a hold rating in a research report on Wednesday, June 14th. 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. Synchronoss Technologies has a consensus rating of Hold and an average target price of $18.71.

Shares of Synchronoss Technologies (NASDAQ:SNCR) opened at 14.36 on Monday. Synchronoss Technologies has a 52 week low of $8.71 and a 52 week high of $49.94. The firm has a market capitalization of $631.60 million, a price-to-earnings ratio of 31.91 and a beta of 1.61. The firm has a 50-day moving average price of $13.77 and a 200-day moving average price of $16.12.

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

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.

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