Synchronoss Technologies, Inc. (SNCR): Clutching At Straws?

The stock of Synchronoss Technologies, Inc. (NASDAQ:SNCR) has been Initiated to Buy by Canaccord Genuity in its latest research note that was published on August 27. SNCR was given a price target of $13, with other Wall Street analysts also giving their reports regarding the stock. ROTH Capital, analysts launched coverage of SNCR stock with a Buy rating, according to their flash note to investors on June 18. Analysts at Stifel issued an upgrade fromSell to Hold for the stock, in a research note that dated back to December 10.

Synchronoss Technologies, Inc., which has current market capitalization of above $303 Million, published its last quarter earnings on June 30, 2019.

SNCR surged by $0.12 during the normal trading session on Thursday and reaching a high of $6.36 during the day while it closed the day at $6.01. The Synchronoss stock had a low trading volume of 1.07 million shares on that day, which is low compared to the average daily volume of 456.61M shares. SNCR has also lost 18.56% of its value over the past 7 days. However, the stock has declined by 15.11% in the 3 months of the year. Over the past six months meanwhile, it has lost 3.22% while it has lost 2.12% 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 -33.59% from its 3 months high price. However, taking another look at SNCR will indicate that it is trading +1.01% away from its 90-day low. Looking at the bigger picture, the Synchronoss Technologies, Inc. stock has dropped by -33.59% from its 52-week high while it has surged by +21.17% 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 1.94%. This figure is worse than the company’s 20-day Raw Stochastic average which currently stands at 2.12%. Over the past 20 days, Synchronoss’s Stochastic %K stood at 6.77% while its Stochastic %D was revealed to be 7.36%.