Synchronoss Technologies (NASDAQ:SNCR) Issues Quarterly Earnings Results

Synchronoss Technologies (NASDAQ:SNCR) issued its quarterly earnings results on Tuesday. The software maker reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.75, Zacks reports. The business had revenue of $44.21 million for the quarter, compared to analysts’ expectations of $43.76 million. Synchronoss Technologies had a negative net margin of 20.00% and a negative return on equity of 10.99%. Synchronoss Technologies updated its FY 2025 guidance to EPS.

Synchronoss Technologies Stock Performance

NASDAQ SNCR opened at $9.98 on Thursday. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 5.75. Synchronoss Technologies has a twelve month low of $6.02 and a twelve month high of $15.46. The business has a 50-day moving average price of $9.41 and a 200-day moving average price of $10.73. The firm has a market cap of $108.17 million, a price-to-earnings ratio of -2.57 and a beta of 2.05.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on SNCR shares. Roth Mkm upgraded Synchronoss Technologies from a “neutral” rating to a “buy” rating and lifted their target price for the company from $11.00 to $13.00 in a research report on Monday, November 25th. Roth Capital raised Synchronoss Technologies from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 25th.

Insider Activity

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