why Synchronoss Technologies Inc. [SNCR] is a Good Choice for Investors After New Price Target of $3.02

Synchronoss Technologies Inc. [NASDAQ: SNCR] gained 11.36% or 0.1 points to close at $0.98 with a heavy trading volume of 3429896 shares. The company report on November 29, 2022 that Synchronoss Technologies to Present at the Ladenburg Thalmann Virtual Tech Expo on December 7th.


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Event: Synchronoss Technologies Presentation at the Ladenburg Thalmann Virtual Technology ExpoDate: Wednesday, December 7th, 2022Time: 11:30 AM Eastern.

It opened the trading session at $0.8803, the shares rose to $1.01 and dropped to $0.8722, the range by which the price of stock traded the whole day. The daily chart for SNCR points out that the company has recorded -35.53% loss over the past six months. However, it is still -18.07% lower than its most recent low trading price.

If we look at the average trading volume of 206.34K shares, SNCR reached to a volume of 3429896 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Synchronoss Technologies Inc. [SNCR]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SNCR shares is $3.02 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SNCR stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

ROTH Capital have made an estimate for Synchronoss Technologies Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on August 10, 2021. While these analysts kept the previous recommendation, B. Riley Securities raised their target price to Buy. The new note on the price target was released on June 30, 2021, representing the official price target for Synchronoss Technologies Inc. stock. Previously, the target price had yet another raise to $8, while Ladenburg Thalmann analysts kept a Buy rating on SNCR stock.

The Average True Range (ATR) for Synchronoss Technologies Inc. is set at 0.07, with the Price to Sales ratio for SNCR stock in the period of the last 12 months amounting to 0.32. The Price to Book ratio for the last quarter was 1.29, with the Price to Cash per share for the same quarter was set at 0.26. Price to Free Cash Flow for SNCR in the course of the last twelve months was 9.19 with Quick ratio for the last quarter at 1.40.

Trading performance analysis for SNCR stock

Synchronoss Technologies Inc. [SNCR] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.37. With this latest performance, SNCR shares dropped by -6.67% in over the last four-week period, additionally sinking by -35.53% over the last 6 months – not to mention a drop of -63.97% 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 48.73, with the RSI for the last a single of trading hit 53.47, and the three-weeks RSI is set at 46.18 for Synchronoss Technologies Inc. [SNCR]. The present Moving Average for the last 50 days of trading for this stock 1.0633, while it was recorded at 0.8890 for the last single week of trading, and 1.3729 for the last 200 days.

Synchronoss Technologies Inc. [SNCR]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Synchronoss Technologies Inc. [SNCR] shares currently have an operating margin of -3.98 and a Gross Margin at +48.75. Synchronoss Technologies Inc.’s Net Margin is presently recorded at -8.18.

Return on Equity for this stock declined to -10.33, with Return on Assets sitting at -4.92.

Synchronoss Technologies Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.40 and a Current Ratio set at 1.40.

Synchronoss Technologies Inc. [SNCR]: An earnings per share (EPS) analysis

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%.

An analysis of insider ownership at Synchronoss Technologies Inc. [SNCR]

There are presently around $41 million, or 53.30% of SNCR stock, in the hands of institutional investors. The top three institutional holders of SNCR stocks are: B. RILEY FINANCIAL, INC. with ownership of 12,080,499, which is approximately 0% of the company’s market cap and around 4.80% of the total institutional ownership; ALLSPRING GLOBAL INVESTMENTS HOLDINGS, LLC, holding 5,348,348 shares of the stock with an approximate value of $5.24 million in SNCR stocks shares; and CANNELL CAPITAL LLC, currently with $3.64 million in SNCR stock with ownership of nearly 0% of the company’s market capitalization.

Positions in Synchronoss Technologies Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 27 institutional holders increased their position in Synchronoss Technologies Inc. [NASDAQ:SNCR] by around 1,376,232 shares. Additionally, 30 investors decreased positions by around 2,551,864 shares, while 31 investors held positions by with 37,951,290 shares. The mentioned changes placed institutional holdings at 41,879,386 shares, according to the latest SEC report filing. SNCR stock had 9 new institutional investments in for a total of 198,954 shares, while 7 institutional investors sold positions of 517,190 shares during the same period.

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