Synchronoss Technologies (NASDAQ:SNCR) announced its quarterly earnings results on Thursday, May 9th. The software maker reported ($0.50) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.49) by ($0.01), Morningstar.com reports. Synchronoss Technologies had a negative net margin of 67.57% and a negative return on equity of 76.17%. The company had revenue of $88.11 million during the quarter, compared to the consensus estimate of $83.37 million.
Synchronoss Technologies stock traded down $0.16 during mid-day trading on Friday, reaching $6.42. 165,357 shares of the company were exchanged, compared to its average volume of 310,808. Synchronoss Technologies has a 12 month low of $3.90 and a 12 month high of $8.49. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.16 and a quick ratio of 1.21. The firm has a market cap of $280.01 million, a PE ratio of -1.31 and a beta of 0.60.
In other news, Chairman Stephen G. Waldis sold 6,539 shares of Synchronoss Technologies stock in a transaction on Tuesday, February 26th. The stock was sold at an average price of $7.79, for a total value of $50,938.81. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Stephen G. Waldis sold 8,880 shares of Synchronoss Technologies stock in a transaction on Thursday, February 21st. The shares were sold at an average price of $8.13, for a total value of $72,194.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,813 shares of company stock worth $284,178. Corporate insiders own 34.90% of the company’s stock.
Several analysts have issued reports on the stock. Zacks Investment Research lowered shares of Synchronoss Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday. ValuEngine raised Synchronoss Technologies from a “buy” rating to a “strong-buy” rating in a report on Monday.
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Synchronoss Technologies Company Profile
Synchronoss Technologies, Inc provides cloud, digital, messaging, and Internet of things platforms, products, and solutions worldwide. Its products and services include cloud-based sync, backup, storage and content engagement capabilities, broadband connectivity solutions, analytics, white label messaging, and identity/access management that enable communications service providers, cable operators/multi-services operators, original equipment manufacturers with embedded connectivity, and multi-channel retailers, as well as other customers to accelerate and monetize value-add services for secure and broadband networks and connected devices.
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