An interesting stock that came up in some of our conversations today is Synchronoss Technologies, Inc. (NASDAQ:SNCR). At current price of $6.79, the shares have already added 0.25 points (3.82% higher) from its previous close of $6.54. Should you buy or avoid them? The stock sets an active trading volume day with a reported 182993 contracts so far this session. SNCR shares had a relatively better volume day versus average trading capacity of 344.45 thousand shares, but with a 37.33 million float and a 4.31% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for SNCR stock indicates that the average analyst price target is $7 per share. This means the stock has a potential increase of 3.09% from where the SNCR share price has been trading recently which is between $6.47 and $6.9. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $7.
The shorts are running away from Synchronoss Technologies, Inc. (SNCR) stock. The latest set of short interest data was released on 31 May 2019, and the numbers show a drop in short interest in SNCR shares. While short interest still represents only 3.77% of SNCR’s float, the number of shares shorted have fallen by -160895. The number of shares shorted fell to 1246131 shares, down from 1407026 shares during the preceding fortnight. With average daily trading volumes at 248021 shares, days to cover increased to about 4.338294 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Why Synchronoss Technologies Stock Popped Today” and dated June 06, 2019.
During the recent trading session for Synchronoss Technologies, Inc. (NASDAQ:SNCR), the company witnessed their stock rise $0.57 over a week and surge $0.53 from the price 20 days ago. When compared to their established 52-week high of $8.49, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 02/13/19. The recent low of $3.9 stood for a -20.02% since 07/30/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0.33 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Synchronoss Technologies, Inc., the two-week RSI stands at 58.82. This figure suggests that SNCR stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current SNCR readings is similarly very revealing as it has a stochastic reading of 47.51% at this stage. This figure means that SNCR share price today is being neutral.
Technical chart claims that Synchronoss Technologies, Inc. (SNCR) would settle between $6.8/share to $7.07/share level. However, if the stock price goes below the $6.37 mark, then the market for Synchronoss Technologies, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $6.21 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.19. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Stifel raised their recommendation on shares of SNCR from Sell to Hold in their opinion released on December 10.
SNCR equity has an average rating of 3, with the figure leaning towards a bullish end. 1 analysts who tracked the company were contacted by Reuters. Amongst them, 1 rated the stock as a hold while the remaining 0 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 0 analysts rated Synchronoss Technologies, Inc. (NASDAQ:SNCR) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, SNCR stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/S ratio is 0.85 while for the average stock in the same group, the multiple is 361.68.
Synchronoss Technologies, Inc. (SNCR)’s current-quarter revenues are projected to climb by nearly 4.02% to hit $79.83 million, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over 5.85% from $325840 to a noteworthy $344900. At the other end of the current quarter income statement, Synchronoss Technologies, Inc. is expected to see its adjusted earnings surge by roughly -8.33% to hit $-0.52 per share. For the fiscal year, SNCR’s earnings are projected to climb by roughly 66.05% to hit $-1.47 per share.