$83.00 Million in Sales Expected for Synchronoss Technologies, Inc. (SNCR) This Quarter

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Equities analysts expect Synchronoss Technologies, Inc. (NASDAQ:SNCR) to post sales of $83.00 million for the current quarter, according to Zacks. Two analysts have issued estimates for Synchronoss Technologies’ earnings, with the lowest sales estimate coming in at $82.00 million and the highest estimate coming in at $84.00 million. The company is expected to issue its next quarterly earnings results on Thursday, November 8th.

According to Zacks, analysts expect that Synchronoss Technologies will report full-year sales of $329.73 million for the current year, with estimates ranging from $329.45 million to $330.00 million. For the next fiscal year, analysts forecast that the firm will post sales of $323.88 million per share, with estimates ranging from $305.00 million to $342.76 million. Zacks’ sales calculations are an average based on a survey of research firms 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 (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.70) by $0.02. The business had revenue of $76.74 million during the quarter, compared to analyst estimates of $78.00 million.

Several equities analysts recently issued reports on the company. Zacks Investment Research lowered Synchronoss Technologies from a “hold” rating to a “sell” rating in a research report on Friday, August 10th. Stifel Nicolaus lowered Synchronoss Technologies from a “hold” rating to a “sell” rating and decreased their price objective for the company from $8.00 to $3.00 in a research report on Monday, July 30th. Four investment analysts have rated the stock with a sell rating and one has assigned a hold rating to the company. Synchronoss Technologies has an average rating of “Sell” and a consensus price target of $7.75.

In related news, Director William J. Cadogan acquired 47,500 shares of the company’s stock in a transaction dated Wednesday, August 29th. The shares were bought at an average price of $5.78 per share, for a total transaction of $274,550.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director William J. Cadogan acquired 96,152 shares of the company’s stock in a transaction dated Thursday, September 6th. The shares were bought at an average price of $5.87 per share, for a total transaction of $564,412.24. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 200,000 shares of company stock valued at $1,130,281. Insiders own 10.50% of the company’s stock.

Several institutional investors have recently made changes to their positions in SNCR. SG Americas Securities LLC bought a new stake in shares of Synchronoss Technologies during the 1st quarter worth approximately $119,000. Schwab Charles Investment Management Inc. raised its stake in shares of Synchronoss Technologies by 10.1% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 201,731 shares of the software maker’s stock worth $2,129,000 after purchasing an additional 18,587 shares in the last quarter. Aperio Group LLC bought a new stake in shares of Synchronoss Technologies during the 1st quarter worth approximately $134,000. Northern Trust Corp raised its stake in shares of Synchronoss Technologies by 1.7% during the 1st quarter. Northern Trust Corp now owns 570,568 shares of the software maker’s stock worth $6,019,000 after purchasing an additional 9,772 shares in the last quarter. Finally, California Public Employees Retirement System raised its stake in shares of Synchronoss Technologies by 58.8% during the 1st quarter. California Public Employees Retirement System now owns 73,692 shares of the software maker’s stock worth $777,000 after purchasing an additional 27,292 shares in the last quarter. Institutional investors own 80.41% of the company’s stock.

Shares of SNCR opened at $5.60 on Friday. Synchronoss Technologies has a 52-week low of $3.90 and a 52-week high of $15.69.

Synchronoss Technologies Company Profile

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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