Wells Fargo & Co. Lowers Synchronoss Technologies to Market Perform (SNCR)
Synchronoss Technologies (NASDAQ: SNCR) was downgraded by analysts at Wells Fargo & Co. (NYSE: WFC) from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Tuesday.
Separately, analysts at Zacks upgraded shares of Synchronoss Technologies from a “neutral” rating to an “outperform” rating in a research note to investors on Friday, February 10th.
Synchronoss Technologies traded up 1.44% on Tuesday, hitting $20.511. Synchronoss Technologies has a 52-week low of $19.70 and a 52-week high of $38.90. The company has a market cap of $799.4 million and a price-to-earnings ratio of 38.15.
Synchronoss Technologies last released its earnings data on Monday, May 7th. The company reported $0.26 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.23 by $0.03. The company’s quarterly revenue was up 21.5% on a year-over-year basis. Analysts expect that Synchronoss Technologies will post $0.28 EPS next quarter.
Synchronoss Technologies, Inc. (Synchronoss) is a provider of on-demand transaction management solutions.