Synchronoss Technologies (NASDAQ:SNCR) Stock Price Crosses Above Two Hundred Day Moving Average – What’s Next?

Shares of Synchronoss Technologies, Inc. (NASDAQ:SNCR) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $10.57 and traded as high as $12.85. Synchronoss Technologies shares last traded at $12.02, with a volume of 196,354 shares trading hands.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Synchronoss Technologies from a “hold” rating to a “buy” rating in a research note on Friday, March 14th.

Synchronoss Technologies Stock Performance

The business has a 50 day moving average of $10.02 and a 200-day moving average of $10.57. The company has a market capitalization of $137.89 million, a P/E ratio of -3.09 and a beta of 2.05. The company has a debt-to-equity ratio of 5.75, a quick ratio of 1.88 and a current ratio of 1.88.

Synchronoss Technologies (NASDAQ:SNCR) last issued its quarterly earnings data on Tuesday, March 11th. The software maker reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.75. The company had revenue of $44.21 million for the quarter, compared to the consensus estimate of $43.76 million. Synchronoss Technologies had a negative return on equity of 10.99% and a negative net margin of 20.00%. On average, sell-side analysts predict that Synchronoss Technologies, Inc. will post 0.1 EPS for the current fiscal year.

Insiders Place Their Bets

In other Synchronoss Technologies news, CEO Jeffrey George Miller sold 17,389 shares of Synchronoss Technologies stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $10.34, for a total value of $179,802.26. Following the transaction, the chief executive officer now directly owns 336,232 shares of the company’s stock, valued at $3,476,638.88. The trade was a 4.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 17.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SNCR. State Street Corp increased its holdings in Synchronoss Technologies by 12.9% during the 3rd quarter. State Street Corp now owns 35,075 shares of the software maker’s stock valued at $522,000 after purchasing an additional 4,000 shares during the period. XTX Topco Ltd bought a new position in Synchronoss Technologies in the 3rd quarter valued at approximately $237,000. Barclays PLC boosted its holdings in shares of Synchronoss Technologies by 603.6% during the 3rd quarter. Barclays PLC now owns 5,734 shares of the software maker’s stock valued at $85,000 after acquiring an additional 4,919 shares during the last quarter. Geode Capital Management LLC increased its position in Synchronoss Technologies by 4.1% during the third quarter. Geode Capital Management LLC now owns 104,557 shares of the software maker’s stock valued at $1,557,000 after acquiring an additional 4,159 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in Synchronoss Technologies by 54,341.7% in the third quarter. JPMorgan Chase & Co. now owns 58,797 shares of the software maker’s stock worth $875,000 after acquiring an additional 58,689 shares during the period. Institutional investors own 51.71% of the company’s stock.

About Synchronoss Technologies

Synchronoss Technologies, Inc provides cloud, messaging, digital, and network management solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers Synchronoss Personal Cloud platform that allows customers' subscribers to backup and protect, engage with, and manage their personal content.