Synchronoss Technologies (NASDAQ:SNCR) Issues FY 2021 Earnings Guidance

Synchronoss Technologies (NASDAQ:SNCR) issued an update on its FY 2021 earnings guidance on Wednesday morning. The company provided EPS guidance of $- for the period. The company issued revenue guidance of $275 million-285 million, compared to the consensus revenue estimate of $278.79 million.

Shares of Synchronoss Technologies stock traded up $0.48 during trading on Thursday, reaching $2.91. The company’s stock had a trading volume of 6,918,563 shares, compared to its average volume of 594,599. The stock has a market capitalization of $128.48 million, a P/E ratio of -1.87 and a beta of 0.99. Synchronoss Technologies has a 1-year low of $2.35 and a 1-year high of $6.59. The company has a 50-day moving average price of $3.02.

Synchronoss Technologies (NASDAQ:SNCR) last issued its quarterly earnings results on Monday, May 10th. The software maker reported ($0.33) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.36) by $0.03. Synchronoss Technologies had a positive return on equity of 16.85% and a negative net margin of 6.80%. The company had revenue of $65.50 million during the quarter, compared to analysts’ expectations of $64.40 million. As a group, equities research analysts predict that Synchronoss Technologies will post -1.05 EPS for the current fiscal year.

A number of analysts have commented on the company. LADENBURG THALM/SH SH reaffirmed a buy rating and set a $7.40 price target on shares of Synchronoss Technologies in a research report on Wednesday. Northland Securities reaffirmed a buy rating and set a $6.50 price target on shares of Synchronoss Technologies in a research report on Monday, April 19th. Zacks Investment Research cut Synchronoss Technologies from a buy rating to a hold rating in a research report on Wednesday, May 12th. Canaccord Genuity lowered their price target on Synchronoss Technologies from $9.00 to $8.00 and set a buy rating for the company in a research report on Tuesday, May 11th. Finally, Roth Capital reissued a buy rating and issued a $9.00 price objective on shares of Synchronoss Technologies in a report on Wednesday. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has an average rating of Buy and a consensus price target of $7.18.

Synchronoss Technologies Company Profile

Synchronoss Technologies, Inc provides cloud, digital, messaging, and network management platforms, products, and solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. Its platforms, products, and solutions include cloud sync, backup, storage, device set up, content transfer, and content engagement for user generated content; multi-channel messaging peer-to-peer communications and application-to-person commerce solutions; customer journey and workflow design, development, orchestration, and experience management solutions; and telecom network infrastructure designing, procuring, managing, and optimizing solutions.

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