The stock of Synchronoss Technologies, Inc. (NASDAQ:SNCR) hit a new 52-week high and has $56.34 target or 27.00% above today’s $44.36 share price. The 6 months bullish chart indicates low risk for the $2.10B company. The 1-year high was reported on Nov, 8 by Barchart.com. If the $56.34 price target is reached, the company will be worth $567.00 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 886,435 shares traded hands or 165.30% up from the average. Synchronoss Technologies, Inc. (NASDAQ:SNCR) has risen 19.23% since April 5, 2016 and is uptrending. It has outperformed by 17.28% the S&P500.
Synchronoss Technologies, Inc. (NASDAQ:SNCR) Ratings Coverage
Out of 5 analysts covering Synchronoss Technologies Inc. (NASDAQ:SNCR), 4 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 80% are positive. Synchronoss Technologies Inc. has been the topic of 8 analyst reports since July 31, 2015 according to StockzIntelligence Inc. Stephens initiated the stock with “Overweight” rating in Wednesday, August 10 report. The company was downgraded on Thursday, February 4 by Stifel Nicolaus. The company was upgraded on Thursday, October 29 by Raymond James. The stock has “Buy” rating given by Drexel Hamilton on Wednesday, June 1.
According to Zacks Investment Research, “SYNCHRONOSS TECHNOLOGIES is the premier provider of on-demand transaction management software to Tier One communications service providers. Synchronoss enables service providers to drive growth in new and existing markets while delivering an improved customer experience at lower costs. The company’s flagship ActivationNow and ConvergenceNow software platforms automate, synchronize and simplify electronic service creation and management of advanced wireline, wireless and IP services across existing networks.”
Insitutional Activity: The institutional sentiment increased to 1.93 in Q2 2016. Its up 0.99, from 0.94 in 2016Q1. The ratio increased, as 8 funds sold all Synchronoss Technologies, Inc. shares owned while 51 reduced positions. 35 funds bought stakes while 79 increased positions. They now own 36.19 million shares or 1.51% more from 35.65 million shares in 2016Q1.
Blackrock Advsrs Limited Liability Corp accumulated 0% or 64,392 shares. Van Strum And Towne Incorporated holds 29,565 shares or 0.63% of its portfolio. Teachers Advsrs last reported 0.02% of its portfolio in the stock. Moreover, State Street has 0% invested in Synchronoss Technologies, Inc. (NASDAQ:SNCR) for 790,284 shares. Grp One Trading Lp has 0% invested in the company for 548 shares. Us State Bank De accumulated 0% or 7,749 shares. The Quebec – Canada-based Pub Sector Pension Invest Board has invested 0.01% in Synchronoss Technologies, Inc. (NASDAQ:SNCR). Fmr Llc holds 0.01% or 3.44M shares in its portfolio. Paloma Partners, a Connecticut-based fund reported 14,108 shares. The Illinois-based Oak Ridge Invests Ltd Llc has invested 2.23% in Synchronoss Technologies, Inc. (NASDAQ:SNCR). Smith Graham & Co Advsrs Lp holds 194,272 shares or 0.85% of its portfolio. Penbrook Mgmt Lc reported 27,580 shares or 0.97% of all its holdings. Da Davidson & holds 0% of its portfolio in Synchronoss Technologies, Inc. (NASDAQ:SNCR) for 3,392 shares. Beacon Gp reported 9,648 shares or 0.07% of all its holdings. Employees Retirement Association Of Colorado holds 0% of its portfolio in Synchronoss Technologies, Inc. (NASDAQ:SNCR) for 9,015 shares.
Insider Transactions: Since May 13, 2016, the stock had 0 insider buys, and 15 insider sales for $6.48 million net activity. 13,000 shares with value of $531,050 were sold by Waldis Stephen G on Wednesday, October 5. The insider Schuette David sold 436 shares worth $18,922. Rosenberger Karen had sold 83 shares worth $3,384 on Monday, August 22. HOFFMAN CHARLES E sold 55,000 shares worth $1.93M. Moore Donnie also sold $216,590 worth of Synchronoss Technologies, Inc. (NASDAQ:SNCR) on Wednesday, October 12. On Thursday, August 4 the insider McCormick James M sold $1.10M.
More notable recent Synchronoss Technologies, Inc. (NASDAQ:SNCR) news were published by: Businesswire.com which released: “Synchronoss Technologies, Inc. Announces Strong Third Quarter Results” on November 07, 2016, also Fool.com with their article: “Synchronoss Technologies, Inc. Earnings: A Classic “Beat and Raise” Report” published on August 08, 2016, Fool.com published: “Why Shares of Synchronoss Technologies Inc. Slumped Again Today” on February 04, 2016. More interesting news about Synchronoss Technologies, Inc. (NASDAQ:SNCR) were released by: Businesswire.com and their article: “Synchronoss Technologies to Acquire Openwave Messaging” published on March 02, 2016 as well as Finance.Yahoo.com‘s news article titled: “Synchronoss Technologies, Inc. Announces Date of Third Quarter 2016 Financial …” with publication date: October 12, 2016.
SNCR Company Profile
Synchronoss Technologies, Inc. (Synchronoss), incorporated on September 19, 2000, offers cloud solutions and software activation for mobile carriers, enterprises, retailers and original equipment manufacturers (OEMs). The Firm operates in providing cloud solutions and software activation for connected devices segment. The Company’s software provides consumer and enterprise solutions for transactions on a range of connected devices across the world’s networks. The Company’s solutions include activation and provisioning software for devices and services, cloud sync, backup, storage and content engagement capabilities, broadband connectivity solutions, analytics, identity/access management and secure mobility management that enable communications service providers (CSPs), cable operators/multi-services operators (MSOs) and OEMs with embedded connectivity (smartphones, laptops, tablets and mobile Internet devices (MIDs), such as automobiles, wearables for personal health and wellness, and connected homes), multi-channel retailers, medium and large enterprises and their consumers, as well as other clients for secure and broadband networks, and connected devices. The Firm operates in and markets its solutions and services directly through its sales organizations in North America, Europe and Asia-Pacific.
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