Somewhat Positive Media Coverage Somewhat Unlikely to Effect Synchronoss Technologies (SNCR) Share Price

Somewhat Positive Media Coverage Somewhat Unlikely to Effect Synchronoss Technologies (SNCR) Share Price

Media coverage about Synchronoss Technologies (NASDAQ:SNCR) has been trending somewhat positive recently, according to AlphaOne Sentiment Analysis. The research group, a subsidiary of Accern, identifies negative and positive media coverage by monitoring more than 20 million blog and news sources in real time. AlphaOne ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Synchronoss Technologies earned a media sentiment score of 0.03 on AlphaOne’s scale. AlphaOne also gave news headlines about the software maker an impact score of 47 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the next several days.

Here are some of the headlines that may have impacted Alpha One Sentiment’s analysis:

Synchronoss Technologies (SNCR) traded down 1.17% during trading on Thursday, reaching $12.63. The company’s stock had a trading volume of 1,289,969 shares. Synchronoss Technologies has a 52-week low of $11.15 and a 52-week high of $49.94. The firm has a market capitalization of $555.51 million, a price-to-earnings ratio of 28.07 and a beta of 2.28. The stock’s 50-day moving average is $17.41 and its 200 day moving average is $31.05.

Several brokerages recently weighed in on SNCR. Credit Suisse Group AG downgraded shares of Synchronoss Technologies from an “outperform” rating to a “neutral” rating and cut their target price for the company from $45.00 to $13.00 in a research note on Thursday, April 27th. Zacks Investment Research downgraded shares of Synchronoss Technologies from a “hold” rating to a “sell” rating in a research note on Wednesday, April 12th. Stifel Nicolaus dropped their price objective on shares of Synchronoss Technologies from $40.00 to $32.00 and set a “hold” rating for the company in a research note on Thursday, February 9th. Wells Fargo & Co downgraded shares of Synchronoss Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday, April 27th. Finally, Deutsche Bank AG cut Synchronoss Technologies from a “buy” rating to a “hold” rating and decreased their target price for the stock from $50.00 to $35.00 in a report on Thursday, February 9th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. Synchronoss Technologies has an average rating of “Hold” and an average target price of $26.86.

In other Synchronoss Technologies news, EVP David Schuette sold 1,081 shares of the firm’s stock in a transaction that occurred on Monday, March 20th. The stock was sold at an average price of $26.25, for a total value of $28,376.25. Following the sale, the executive vice president now owns 49,093 shares of the company’s stock, valued at approximately $1,288,691.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Silver Private Holdings I, Llc bought 1,357,383 shares of the stock in a transaction on Thursday, May 4th. The stock was acquired at an average cost of $15.89 per share, for a total transaction of $21,568,815.87. The disclosure for this purchase can be found here. Insiders sold a total of 4,471 shares of company stock worth $116,652 over the last three months. 11.00% of the stock is owned by company insiders.

About Synchronoss Technologies

Synchronoss Technologies, Inc is a global software and services company, which provides technologies and services for the mobile transformation of business. The Company’s portfolio in the Consumer and Enterprise markets contains offerings, such as personal cloud, secure-mobility, identity management and scalable messaging platforms, products and solutions.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:SNCR”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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