Equities research analysts at Craig Hallum initiated coverage on shares of Synacor Inc (NASDAQ:SYNC) in a report issued on Monday. The brokerage set a “buy” rating and a $5.00 price target on the stock. Craig Hallum’s price target suggests a potential upside of 21.95% from the company’s current price.
A number of other research firms also recently issued reports on SYNC. Lake Street Capital started coverage on shares of Synacor in a report on Monday, February 13th. They issued a “buy” rating and a $5.50 price objective for the company. Needham & Company LLC reissued a “hold” rating on shares of Synacor in a report on Thursday, March 16th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $5.00.
Shares of Synacor (NASDAQ:SYNC) opened at 4.10 on Monday. The firm’s market cap is $129.08 million. Synacor has a one year low of $1.33 and a one year high of $4.25. The company has a 50 day moving average of $3.22 and a 200-day moving average of $3.06.
Synacor (NASDAQ:SYNC) last posted its quarterly earnings data on Wednesday, March 15th. The company reported ($0.10) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.10). Synacor had a negative net margin of 6.46% and a negative return on equity of 18.33%. On average, analysts expect that Synacor will post ($0.17) EPS for the current year.
A number of hedge funds have recently bought and sold shares of SYNC. Renaissance Technologies LLC increased its stake in Synacor by 10.9% in the fourth quarter. Renaissance Technologies LLC now owns 1,144,200 shares of the company’s stock worth $3,547,000 after buying an additional 112,100 shares in the last quarter. Spark Investment Management LLC increased its stake in Synacor by 4.8% in the third quarter. Spark Investment Management LLC now owns 482,100 shares of the company’s stock worth $1,402,000 after buying an additional 22,200 shares in the last quarter. Eagle Global Advisors LLC acquired a new stake in Synacor during the third quarter worth about $178,000. Finally, Prescott Group Capital Management L.L.C. acquired a new stake in Synacor during the third quarter worth about $144,000. 14.05% of the stock is owned by hedge funds and other institutional investors.
Synacor, Inc is a technology development, multiplatform services and revenue partner for video, Internet and communications providers, device manufacturers and enterprises. The Company enables its customers to provide their consumers engaging, multiscreen experiences with products that require scale, actionable data and implementation.