Synacor, Inc. (NASDAQ:SYNC) was upgraded by investment analysts at ValuEngine from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Monday.
Other equities analysts have also recently issued reports about the company. Rosenblatt Securities reiterated a “buy” rating and issued a $5.50 price objective on shares of Synacor in a report on Monday, June 12th. Canaccord Genuity dropped their target price on Synacor from $8.00 to $6.00 and set a “buy” rating for the company in a report on Thursday, August 10th. Craig Hallum cut Synacor from a “buy” rating to a “hold” rating and increased their target price for the company from $3.55 to $4.00 in a report on Thursday, August 10th. Finally, Zacks Investment Research cut Synacor from a “buy” rating to a “hold” rating in a report on Wednesday, May 17th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $5.00.
Synacor (NASDAQ SYNC) opened at 2.85 on Monday. Synacor has a 52-week low of $2.30 and a 52-week high of $4.25. The firm has a 50-day moving average price of $2.93 and a 200 day moving average price of $3.38. The company’s market capitalization is $110.20 million.
Synacor (NASDAQ:SYNC) last posted its quarterly earnings data on Wednesday, August 9th. The information services provider reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.02. Synacor had a negative return on equity of 39.21% and a negative net margin of 13.14%. The firm had revenue of $31.22 million during the quarter, compared to analysts’ expectations of $29.43 million. Synacor’s revenue was up 2.4% compared to the same quarter last year. On average, analysts predict that Synacor will post ($0.32) earnings per share for the current fiscal year.
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A number of hedge funds have recently modified their holdings of the stock. Goldman Sachs Group Inc. boosted its holdings in Synacor by 49.9% during the 2nd quarter. Goldman Sachs Group Inc. now owns 133,078 shares of the information services provider’s stock valued at $486,000 after acquiring an additional 44,319 shares during the period. UBS Oconnor LLC purchased a new stake in Synacor during the 2nd quarter valued at about $373,000. EAM Investors LLC boosted its holdings in Synacor by 5.4% during the 2nd quarter. EAM Investors LLC now owns 150,665 shares of the information services provider’s stock valued at $550,000 after acquiring an additional 7,711 shares during the period. Vanguard Group Inc. boosted its holdings in Synacor by 4.1% during the 2nd quarter. Vanguard Group Inc. now owns 706,887 shares of the information services provider’s stock valued at $2,580,000 after acquiring an additional 27,763 shares during the period. Finally, Northern Trust Corp boosted its holdings in Synacor by 27.5% during the 2nd quarter. Northern Trust Corp now owns 59,744 shares of the information services provider’s stock valued at $218,000 after acquiring an additional 12,875 shares during the period. Institutional investors own 28.08% of the company’s stock.
Synacor, Inc is a technology development, multiplatform services and revenue partner for video, Internet and communications providers, device manufacturers and enterprises. The Company enables its customers to provide their consumers engaging, multiscreen experiences with products that require scale, actionable data and implementation.
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