Synchronoss Technologies (SNCR) is Initiated by Drexel Hamilton to Buy

Synchronoss Technologies (SNCR) was Initiated by Drexel Hamilton to “Buy”. Drexel Hamilton advised their investors in a research report released on Jun 1, 2016.

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 .

On the company’s financial health, Synchronoss Technologies reported $0.49 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on May 5, 2016. Analyst had a consensus of $0.46. The company had revenue of $145.57 million for the quarter, 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.

Synchronoss Technologies opened for trading at $35.6 and hit $35.8 on the upside on Friday, eventually ending the session at $35.7, with a gain of 0.37% or 0.13 points. The heightened volatility saw the trading volume jump to 2,06,084 shares. Company has a market cap of $1,596 M.

In a different news, on May 26, 2016, Karen Rosenberger (EVP & Chief Financial Officer) sold 83 shares at $35.30 per share price. According to the SEC, on May 20, 2016, Stephen G Waldis (CEO and Chairman) sold 13,000 shares at $34.83 per share price. On May 17, 2016, Charles E Hoffman (director) sold 55,000 shares at $35.11 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 Company’s 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.

Synchronoss Technologies

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