Synchronoss Technologies (SNCR) reported quarterly earnings results on Wednesday, Aug-3-2016. The company said it had a profit of $0.57 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.04. Analysts had a consensus of $0.53. The company posted revenue of $161.49 million in the period, compared to analysts expectations of $157.01 million. The company’s revenue was up 17.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.56 EPS.
Many Wall Street Analysts have commented on Synchronoss Technologies. Synchronoss Technologies was Initiated by Drexel Hamilton to “Buy” on Jun 1, 2016.
Synchronoss Technologies closed down -1.09 points or -2.88% at $36.75 with 5,55,523 shares getting traded on Tusday. Post opening the session at $37.63, the shares hit an intraday low of $36.58 and an intraday high of $37.935 and the price fluctuated in this range throughout the day.Shares ended Tusday session in Red.
In a different news, on Jul 8, 2016, Stephen G Waldis (CEO and Chairman) sold 13,000 shares at $32.32 per share price. According to the SEC, on Jul 8, 2016, Karen Rosenberger (EVP & Chief Financial Officer) sold 787 shares at $31.45 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 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.