Synchronoss Technologies (NASDAQ:SNCR) Stock Passes Above 200 Day Moving Average – Time to Sell?

Shares of Synchronoss Technologies, Inc. (NASDAQ:SNCR) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $6.42 and traded as high as $8.50. Synchronoss Technologies shares last traded at $8.46, with a volume of 73,113 shares trading hands.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Wall Street Zen lowered shares of Synchronoss Technologies from a “buy” rating to a “hold” rating in a report on Saturday, December 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Synchronoss Technologies in a report on Wednesday, October 8th. Roth Capital downgraded Synchronoss Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 4th. Finally, Zacks Research upgraded Synchronoss Technologies from a “strong sell” rating to a “hold” rating in a research report on Friday, October 10th. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce”.

Synchronoss Technologies Stock Performance

The company has a debt-to-equity ratio of 3.13, a quick ratio of 1.53 and a current ratio of 1.53. The stock has a market cap of $97.41 million, a PE ratio of -8.30, a PEG ratio of 1.04 and a beta of 1.60. The company’s 50-day moving average price is $6.08 and its two-hundred day moving average price is $6.43.

Synchronoss Technologies (NASDAQ:SNCR) last released its earnings results on Tuesday, November 4th. The software maker reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.28. Synchronoss Technologies had a positive return on equity of 24.44% and a negative net margin of 5.69%.The business had revenue of $42.00 million for the quarter, compared to analysts’ expectations of $43.20 million. On average, equities research analysts forecast that Synchronoss Technologies, Inc. will post 0.1 EPS for the current year.

Institutional Trading of Synchronoss Technologies

A number of hedge funds have recently bought and sold shares of the company. Citadel Advisors LLC bought a new position in Synchronoss Technologies during the third quarter valued at approximately $171,000. Two Sigma Investments LP lifted its holdings in shares of Synchronoss Technologies by 9.2% in the 3rd quarter. Two Sigma Investments LP now owns 69,896 shares of the software maker’s stock worth $425,000 after acquiring an additional 5,909 shares during the last quarter. Sei Investments Co. boosted its stake in shares of Synchronoss Technologies by 23.4% in the 3rd quarter. Sei Investments Co. now owns 14,745 shares of the software maker’s stock valued at $90,000 after purchasing an additional 2,794 shares in the last quarter. Heron Bay Capital Management grew its holdings in shares of Synchronoss Technologies by 10.6% during the 3rd quarter. Heron Bay Capital Management now owns 33,099 shares of the software maker’s stock valued at $201,000 after purchasing an additional 3,182 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Synchronoss Technologies by 7.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 96,515 shares of the software maker’s stock worth $587,000 after purchasing an additional 6,506 shares during the period. Institutional investors own 51.71% of the company’s stock.

About Synchronoss Technologies

Synchronoss Technologies, Inc is a global software and services company that provides cloud-based digital transformation solutions for communications service providers, enterprises, and financial institutions. The company’s platform delivers a suite of products designed to automate and manage the provisioning, activation and lifecycle of devices, subscriptions and services across fixed and mobile networks. Synchronoss’s offerings include digital customer engagement tools, identity verification and authentication services, as well as high-volume messaging and collaboration applications.

Founded in 2000 and headquartered in Bridgewater, New Jersey, Synchronoss serves a diverse customer base spanning North America, Europe, Asia and Latin America.