Synchronoss Technologies (NASDAQ:SNCR) Announces Earnings Results

Synchronoss Technologies (NASDAQ:SNCR) posted its quarterly earnings results on Tuesday. The software maker reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.75, Zacks reports. Synchronoss Technologies had a negative net margin of 20.00% and a negative return on equity of 10.99%.

Synchronoss Technologies Price Performance

NASDAQ:SNCR traded down $0.62 during mid-day trading on Tuesday, reaching $7.13. 100,938 shares of the company were exchanged, compared to its average volume of 68,923. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 5.75. The stock has a market cap of $77.28 million, a PE ratio of -1.84 and a beta of 2.05. Synchronoss Technologies has a 12 month low of $6.02 and a 12 month high of $15.46. The company has a fifty day moving average of $9.49 and a 200 day moving average of $10.80.

Analysts Set New Price Targets

SNCR has been the topic of several research reports. Roth Capital upgraded Synchronoss Technologies from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 25th. Roth Mkm upgraded Synchronoss Technologies from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $11.00 to $13.00 in a research report on Monday, November 25th.

Insiders Place Their Bets

In other news, CEO Jeffrey George Miller sold 17,389 shares of the business’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $10.34, for a total value of $179,802.26. Following the completion of the transaction, the chief executive officer now 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. 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.