Synchronoss Technologies (NASDAQ:SNCR) Upgraded to “Buy” by StockNews.com

Synchronoss Technologies logoSynchronoss Technologies (NASDAQ:SNCR – Get Rating) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Friday.

Synchronoss Technologies Stock Performance

Shares of SNCR stock opened at $1.37 on Friday. The company’s fifty day simple moving average is $1.48 and its 200-day simple moving average is $1.46. Synchronoss Technologies has a 52 week low of $1.06 and a 52 week high of $3.09. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 1.71. The company has a market cap of $120.53 million, a PE ratio of -9.75 and a beta of 1.18.

Hedge Funds Weigh In On Synchronoss Technologies

Hedge funds have recently made changes to their positions in the business. Essex Investment Management Co. LLC raised its stake in shares of Synchronoss Technologies by 4.9% in the 1st quarter. Essex Investment Management Co. LLC now owns 965,814 shares of the software maker’s stock valued at $1,671,000 after acquiring an additional 44,876 shares during the period. Invenire Partners LP raised its stake in shares of Synchronoss Technologies by 35.1% in the 1st quarter. Invenire Partners LP now owns 1,075,917 shares of the software maker’s stock valued at $1,861,000 after acquiring an additional 279,448 shares during the period. Wedbush Securities Inc. purchased a new position in shares of Synchronoss Technologies in the 1st quarter valued at $48,000. Acadian Asset Management LLC increased its stake in Synchronoss Technologies by 6.1% during the 1st quarter. Acadian Asset Management LLC now owns 1,163,656 shares of the software maker’s stock worth $2,012,000 after buying an additional 67.305 shares during the period. Finally, B. Riley Financial Inc. increased its stake in Synchronoss Technologies by 1.2% during the 1st quarter. B. Riley Financial Inc. now owns 11,671,579 shares of the software maker’s stock worth $20,192,000 after buying an additional 133,117 shares during the period. Hedge funds and other institutional investors own 48.72% of the company’s stock.

About Synchronos Technologies

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Synchronoss Technologies, Inc provides cloud, messaging, digital, and network management platforms, products, and solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company’s platforms, products, and solutions include content backup, view, manage, engage, transfer, and restore solutions in operating systems and devices; multi-channel messaging, peer-to-peer communications, and application-to-person commerce solutions; e-mail solutions; customer journey and workflow design, development, orchestration, and experience management solutions; and telecom network infrastructure designing, procuring, managing, and optimizing solutions.

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