Synchronoss Technologies, Inc. (SNCR) Hits A Home Run: Let’s Look Forward

The stock of Synchronoss Technologies, Inc. (NASDAQ:SNCR) has been Initiated to Buy by ROTH Capital in its latest research note that was published on June 18. SNCR was given a price target of $13, with other Wall Street analysts also giving their reports regarding the stock. Stifel analysts bumped their recommendation on SNCR stock from Sell to Hold in a separate flash note to investors on December 10.

Synchronoss’s stock is covered by 2 analysts, with none of them rating the stock as Buy. It has been deemed to have strong buy by 1 of the analysts, 1 of them have rated it as a Hold while none of them rated it as sell. The situation was different a month ago when the stock was rated as a Buy by only none analysts. none of them rated it as strong buy with 1 of them recommended investors to Hold on to the stock. Meanwhile, none analyst(s) rated it as a sell. The above data shows that SNCR has an average analyst rating of 2.50.

Synchronoss Technologies, Inc., which has current market capitalization of above $359 Million, published its last quarter earnings on March 31, 2019. The company was able to amass $88.11 million in revenue. This figure is $4.61 million more than what analysts had expected which was $83.5 million.

SNCR surged by $0.62 during the normal trading session on Wednesday and reaching a high of $8.67 during the day while it closed the day at $8.65. The Synchronoss stock had a low trading volume of 0.52 million shares on that day, which is low compared to the average daily volume of 385.93M shares. SNCR has also gained 6.92% of its value over the past 7 days. However, the stock has surged by 59.30% in the 3 months of the year. Over the past six months meanwhile, it has gained 15.33% while it has added 40.88% year-on date. Let us now take a look at the stock’s potential support and resistance levels. The publicly traded company was seen to have slipped by -0.23% from its 3 months high price. However, taking another look at SNCR will indicate that it is trading +65.39% away from its 90-day low. Looking at the bigger picture, the Synchronoss Technologies, Inc. stock has dropped by -0.23% from its 52-week high while it has surged by +115.17% from its 52-week low price.

Synchronoss has around 34 Billion cash on their books at the moment. This figure will have to be compared and looked into, with their current liabilities standing at $179 Billion. The Synchronoss stock is bringing in revenue of over 12 months, which is roughly 44 Billion. Despite all that, Synchronoss Technologies, Inc. is seeing things progressing very much as their y-o-y quarterly revenue surged by 19.42%.

Looking at the stock’s Technical analysis information over the past 50 days shows that its Raw Stochastic average stood at 99.22%. This figure is better than the company’s 20-day Raw Stochastic average which currently stands at 98.54%. Over the past 20 days, Synchronoss’s Stochastic %K stood at 76.92% while its Stochastic %D was revealed to be 74.77%.