Synchronoss Technologies (SNCR) reported quarterly earnings results on Thursday, May-5-2016. The company said it had a profit of $0.49 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.03. Analysts had a consensus of $0.46. The company posted revenue of $145.57 million in the period, compared to analysts expectations of $144.25 million. The company’s revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.49 EPS.
Many Wall Street Analysts have commented on Synchronoss Technologies. Company shares were Resumed by FBR Capital on Mar 15, 2016 to “Outperform”, Firm has raised the Price Target to $ 42 from a previous price target of $36 .
Synchronoss Technologies closed down -0.37 points or -1.21% at $30.2 with 6,59,585 shares getting traded on Wednesday. Post opening the session at $30.18, the shares hit an intraday low of $30.06 and an intraday high of $30.9 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
In a different news, on Apr 15, 2016, Stephen G Waldis (CEO and Chairman) sold 13,000 shares at $32.49 per share price. According to the SEC, on Apr 6, 2016, Karen Rosenberger (EVP & Chief Financial Officer) sold 753 shares at $32.12 per share price. On Feb 26, 2016, Chris Halbard (EVP, International) sold 1,519 shares at $25.01 per share price, according to the Form-4 filing with the securities and exchange commission.
Synchronoss Technologies Inc. (Synchronoss) is a mobile innovation company that provides software-based cloud and activation solutions for connected devices to enterprise customers. The Companys solutions include intelligent connectivity management and content synchronization backup and sharing service procurement provisioning activation and support that enable communications service providers (CSPs) cable operators/multi-services operators (MSOs) original equipment manufacturers (OEMs) with embedded connectivity multi-channel retailers and other customers. This includes automating subscriber activation order management upgrades service provisioning and connectivity and content management from any sales channel to any communication service (wireless or wireline) across any connected device type and managing the content transfer synchronization and share.