Synchronoss Technologies Inc. [NASDAQ: SNCR] traded at a high on 06/25/21, posting a 21.31 gain after which it closed the day’ session at $3.53. The company report on June 26, 2021 that Synchronoss Technologies, Inc. Announces Pricing of $125 Million Public Offering of Senior Notes.
Synchronoss Technologies, Inc. (SNCR) (the “Company” or “Synchronoss”), a global leader and innovator in cloud, messaging and digital products and platforms, announced the pricing of an underwritten public offering of $125 million aggregate principal amount of 8.375% senior notes due 2026, including the exercise in full by the underwriters of the underwriters’ option to purchase an additional $5 million aggregate principal amount of senior notes. The offering is expected to close on or about June 30, 2021, subject to satisfaction of customary closing conditions.
Synchronoss and the senior notes both received a rating of BB- from Egan-Jones Ratings Company, an independent, unaffiliated rating agency. The Company has applied to list the senior notes on the Nasdaq Global Select Market under the symbol “SNCRL” and expects the notes to begin trading within 30 business days of the closing date of the offering, if approved.
The results of the trading session contributed to over 30273052 shares changing hands. Over the past one week, the price volatility of Synchronoss Technologies Inc. stands at 11.07% while the volatility over the past one month is 6.95%.
The market cap for SNCR stock reached $128.49 million, with 42.74 million shares outstanding and 34.84 million shares in the current float. Compared to the average trading volume of 1.04M shares, SNCR reached a trading volume of 30273052 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Synchronoss Technologies Inc. [SNCR]?
Ladenburg Thalmann have made an estimate for Synchronoss Technologies Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on August 25, 2020. While these analysts kept the previous recommendation, Northland Capital raised their target price to Outperform. The new note on the price target was released on May 26, 2020, representing the official price target for Synchronoss Technologies Inc. stock. Previously, the target price had yet another raise to $13, while Canaccord Genuity analysts kept a Buy rating on SNCR stock.
The Average True Range (ATR) for Synchronoss Technologies Inc. is set at 0.23, with the Price to Sales ratio for SNCR stock in the period of the last 12 months amounting to 0.46. The Price to Book ratio for the last quarter was 6.79. Price to Free Cash Flow for SNCR in the course of the last twelve months was 8.40 with Quick ratio for the last quarter at 0.90.
How has SNCR stock performed recently?
Synchronoss Technologies Inc. [SNCR] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 45.87. With this latest performance, SNCR shares gained by 23.86% in over the last four-week period, additionally sinking by -25.05% over the last 6 months – not to mention a drop of -0.56% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SNCR stock in for the last two-week period is set at 65.75, with the RSI for the last a single of trading hit 73.13, and the three-weeks RSI is set at 60.35 for Synchronoss Technologies Inc. [SNCR]. The present Moving Average for the last 50 days of trading for this stock 3.02, while it was recorded at 2.75 for the last single week of trading, and 3.62 for the last 200 days.
Synchronoss Technologies Inc. [SNCR]: Deeper insight into the fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Synchronoss Technologies Inc. [SNCR] shares currently have an operating margin of -11.94 and a Gross Margin at +43.26. Synchronoss Technologies Inc.’s Net Margin is presently recorded at -3.67.
Return on Total Capital for SNCR is now -9.72, given the latest momentum, and Return on Invested Capital for the company is -3.23. Return on Equity for this stock declined to -3.84, with Return on Assets sitting at -2.11. When it comes to the capital structure of this company, Synchronoss Technologies Inc. [SNCR] has a Total Debt to Total Equity ratio set at 22.91. Additionally, SNCR Total Debt to Total Capital is recorded at 18.64, with Total Debt to Total Assets ending up at 13.34. Long-Term Debt to Equity for the company is recorded at 102.29, with the Long-Term Debt to Total Capital now at 12.82.
Reflecting on the efficiency of the workforce at the company, Synchronoss Technologies Inc. [SNCR] managed to generate an average of -$6,697 per employee. Receivables Turnover for the company is 5.13 with a Total Asset Turnover recorded at a value of 0.58.Synchronoss Technologies Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.90 and a Current Ratio set at 0.90.
Earnings analysis for Synchronoss Technologies Inc. [SNCR]
With the latest financial reports released by the company, Synchronoss Technologies Inc. posted 0.16/share EPS, while the average EPS was predicted by analysts to be reported at -0.21/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 176.20%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SNCR. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Synchronoss Technologies Inc. go to 10.00%.
Insider trade positions for Synchronoss Technologies Inc. [SNCR]
There are presently around $72 million, or 48.70% of SNCR stock, in the hands of institutional investors. The top three institutional holders of SNCR stocks are: BLACKROCK INC. with ownership of 3,177,924, which is approximately -0.972% of the company’s market cap and around 5.30% of the total institutional ownership; JPMORGAN CHASE & CO, holding 2,132,516 shares of the stock with an approximate value of $7.53 million in SNCR stocks shares; and VANGUARD GROUP INC, currently with $6.99 million in SNCR stock with ownership of nearly 2.638% of the company’s market capitalization.
Positions in Synchronoss Technologies Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 36 institutional holders increased their position in Synchronoss Technologies Inc. [NASDAQ:SNCR] by around 1,786,813 shares. Additionally, 40 investors decreased positions by around 3,058,363 shares, while 25 investors held positions by with 15,594,844 shares. The mentioned changes placed institutional holdings at 20,440,020 shares, according to the latest SEC report filing. SNCR stock had 11 new institutional investments in for a total of 296,536 shares, while 15 institutional investors sold positions of 1,430,445 shares during the same period.