During the last session, Synchronoss Technologies Inc. (NASDAQ:SNCR)’s traded shares were 0.25 million, with the beta value of the company hitting 1.29. At the end of the trading day, the stock’s price was $1.74, reflecting an intraday gain of 7.41% or $0.12. The 52-week high for the SNCR share is $3.09, that puts it down -77.59 from that peak though still a striking 39.08% gain since the share price plummeted to a 52-week low of $1.06. The company’s market capitalization is $154.79M, and the average intraday trading volume over the past 10 days was 0.12 million shares, and the average trade volume was 205.27K shares over the past three months.
Synchronoss Technologies Inc. (SNCR) received a consensus recommendation of an Overweight from analysts. That translates to a mean rating of 2.00. SNCR has a Sell rating from 0 analyst(s) out of 4 analysts who have looked at this stock. 1 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 3 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $0.03.
Synchronoss Technologies Inc. (NASDAQ:SNCR) trade information
Synchronoss Technologies Inc. (SNCR) registered a 7.41% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 7.41% in intraday trading to $1.74 this Friday, 08/05/22, hitting a weekly high. The stock’s 5-day price performance is 29.85%, and it has moved by 47.46% in 30 days. Based on these gigs, the overall price performance for the year is -40.21%. The short interest in Synchronoss Technologies Inc. (NASDAQ:SNCR) is 2.58 million shares and it means that shorts have 14.53 day(s) to cover.
The consensus price target of analysts on Wall Street is $4.94, which implies an increase of 64.78% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $1.25 and $8.75 respectively. As a result, SNCR is trading at a discount of -402.87% off the target high and 28.16% off the low.
Synchronoss Technologies Inc. (SNCR) estimates and forecasts
Statistics show that Synchronoss Technologies Inc. has outperformed its competitors in share price, compared to the industry in which it operates. Synchronoss Technologies Inc. (SNCR) shares have gone down -15.94% during the last six months, with a year-to-date growth rate more than the industry average at 125.00% against 2.90. Yet analysts are ramping up their growth forecast for the fiscal year 2022. Revenue is predicted to grow 111.10% this quarter and then drop -66.70% in the quarter after that. In the rating firms’ projections, revenue will decrease -5.10% compared to the previous financial year.
Revenue for the current quarter is expected to be $66.3 million as predicted by 4 analyst(s). Meanwhile, a consensus of 4 analyst(s) estimates revenue growth to $66.21 million by the end of Sep 2022. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $66.74 million and $69.75 million respectively. In this case, analysts expect current quarter sales to shrink by -0.70% and then drop by -5.10% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 12.90%. While earnings are projected to return 22.20% in 2022, the next five years will return 10.00% per annum.
Synchronoss Technologies Inc. is due to release its next quarterly earnings between March 07 and March 11. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
Synchronoss Technologies Inc. (NASDAQ:SNCR)’s Major holders
Synchronoss Technologies Inc. insiders own 4.76% of total outstanding shares while institutional holders control 57.32%, with the float percentage being 60.19%. B. Riley Financial, Inc. is the largest shareholder of the company, while 95 institutions own stock in it. As of Mar 30, 2022, the company held over 11.67 million shares (or 27.34% of all shares), a total value of $20.19 million in shares.
The next largest institutional holding, with 5.34 million shares, is of Allspring Global Investments Holdings, LLC’s that is approximately 12.52% of outstanding shares. At the market price on Jun 29, 2022, these shares were valued at $6.15 million.
Also, the Mutual Funds coming in first place with the largest holdings of Synchronoss Technologies Inc. (SNCR) shares are 180 Degree Capital Corp and Allspring Special Small Cap Value Fund. Data provided on Mar 30, 2022 indicates that 180 Degree Capital Corp owns about 4.7 million shares. This amounts to just over 11.00 percent of the company’s overall shares, with a $8.12 million market value. The same data shows that the other fund manager holds slightly less at 4.33 million, or about 10.14% of the stock, which is worth about $6.58 million.