Synacor Inc Gets a Buy Rating from Rosenblatt Securities


Rosenblatt Securities analyst Marshall Senk reiterated a Buy rating on Synacor Inc (NASDAQ: SYNC) on May 10 and set a price target of $4.75. The company’s shares closed on Friday at $1.95.

Senk commented:

“We attribute this growth to strong Q1 customer wins includ- ing NR), and over 120 new enterprise and govern- ment customers. AT&T contributed a modest $8.5M in revenue for the quarter and management expressed its intentions to shift its focus away from moneti- zation and closer to customer focused products that drive long term value. Recurring revenue, a metric that hasn’t been previously reported, came in at $11M, growing +10% YoY and comprising 1/3 of the company’s total sales for the quarter.”

According to TipRanks.com, Senk is a 5-star analyst with an average return of 29.2% and a 82.1% success rate. Senk covers the Technology sector, focusing on stocks such as Proofpoint Inc, Carbonite Inc, and Hortonworks.

Synacor Inc has an analyst consensus of Moderate Buy, with a price target consensus of $3.88.

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The company has a one-year high of $3.95 and a one-year low of $1.35. Currently, Synacor Inc has an average volume of 115.3K.

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Synacor, Inc. engages in the development of technology based services. It enables customers to use technology platforms and services to scale businesses and extend subscriber relationships. Its products include managed portals, advertising solutions, email and collaboration platforms, and cloud-based identity management.

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