Synchronoss Technologies (SNCR) Received its Third Buy in a Row


After Northland Securities and Ladenburg Thalmann & Co. gave Synchronoss Technologies (NASDAQ: SNCR) a Buy rating last month, the company received another Buy, this time from Canaccord Genuity. Analyst Michael Walkley maintained a Buy rating on Synchronoss Technologies yesterday and set a price target of $9.00. The company’s shares closed last Monday at $4.10.

According to TipRanks.com, Walkley is a 5-star analyst with an average return of 24.3% and a 66.0% success rate. Walkley covers the Technology sector, focusing on stocks such as SailPoint Technologies Holdings, Sequans Communications S A, and CrowdStrike Holdings.

Synchronoss Technologies has an analyst consensus of Strong Buy, with a price target consensus of $7.63, which is a 80.0% upside from current levels. In a report issued on March 9, Northland Securities also assigned a Buy rating to the stock with a $6.50 price target.

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Synchronoss Technologies’ market cap is currently $188.6M and has a P/E ratio of -3.70. The company has a Price to Book ratio of -0.73.

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Synchronoss Technologies, Inc. engages in the provision of cloud and enterprise solutions It offers software-based activation for connected devices globally. Its platform includes cloud home, personal cloud content transfer, and out-of-box experience; advance messaging and email suite; journey creation and advisor, digital coach, digital portal, and activation; internet-of-things, and smart buildings. The company was founded by James M. McCormick and Stephen G. Waldis in December 2000 and is headquartered in Bridgewater, NJ.

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