Revenue Update on Synchronoss Technologies(NASDAQ:SNCR)

Synchronoss Technologies(NASDAQ:SNCR) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Aug 3, 2016. Company reported revenue of $161.49M. Analysts estimated a revenue of $156.99M. Earnings per share were $0.57. Analysts had estimated an EPS of $0.53.

In a different note, Drexel Hamilton said it Initiates Coverage on Synchronoss Technologies, according to a research note issued on Jun 1, 2016. The shares have been rated ‘Buy’ by the firm.

Synchronoss Technologies (SNCR) shares turned negative on Fridays trading session with the shares closing down -0.11 points or -0.27% at a volume of 2,06,580. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $41.34. The peak price level was also seen at $41.34 while the days lowest was $40.96. Finally the shares closed at $41.22. The 52-week high of the shares is $47.5 while the 52-week low is $20.33. According to the latest information available, the market cap of the company is $1,860 M.

Several Insider Transactions has been reported to the SEC. On Jul 8, 2016, Stephen G Waldis (CEO and Chairman) sold 13,000 shares at $32.32 per share price.Also, On Jul 8, 2016, Karen Rosenberger (EVP & Chief Financial Officer) sold 787 shares at $31.45 per share price.On May 17, 2016, Charles E Hoffman (director) sold 55,000 shares at $35.11 per share price, according to the Form-4 filing with the securities and exchange commission.

Synchronoss Technologies Inc. (Synchronoss) is a mobile innovation company that provides software-based cloud and activation solutions for connected devices to enterprise customers. The Company’s solutions include intelligent connectivity management and content synchronization backup and sharing service procurement provisioning activation and support that enable communications service providers (CSPs) cable operators/multi-services operators (MSOs) original equipment manufacturers (OEMs) with embedded connectivity multi-channel retailers and other customers. This includes automating subscriber activation order management upgrades service provisioning and connectivity and content management from any sales channel to any communication service (wireless or wireline) across any connected device type and managing the content transfer synchronization and share.

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