Synacor, Inc. (SYNC) Downgraded by ValuEngine
ValuEngine lowered shares of Synacor, Inc. (NASDAQ:SYNC) from a hold rating to a sell rating in a research report report published on Monday morning.
Several other research analysts have also recently commented on the company. Rosenblatt Securities reissued a buy rating and set a $5.50 price target on shares of Synacor in a research report on Monday, June 12th. Craig Hallum cut Synacor from a buy rating to a hold rating and increased their price target for the company from $3.55 to $4.00 in a research report on Thursday, August 10th. Finally, Canaccord Genuity reduced their price target on Synacor from $8.00 to $6.00 and set a buy rating for the company in a research report on Thursday, August 10th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. Synacor presently has a consensus rating of Hold and an average target price of $5.25.
Synacor (NASDAQ:SYNC) traded up 1.82% during midday trading on Monday, reaching $2.80. The company had a trading volume of 25,437 shares. The company’s market cap is $108.27 million. Synacor has a 52-week low of $2.30 and a 52-week high of $4.25. The company’s 50-day moving average is $2.58 and its 200 day moving average is $3.32.
Synacor (NASDAQ:SYNC) last issued its quarterly earnings results on Wednesday, August 9th. The information services provider reported ($0.09) EPS for the quarter, beating the consensus estimate 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. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. On average, equities research analysts forecast that Synacor will post ($0.32) EPS for the current year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in SYNC. Bank of New York Mellon Corp lifted its position in shares of Synacor by 0.9% in the first quarter. Bank of New York Mellon Corp now owns 47,048 shares of the information services provider’s stock valued at $195,000 after buying an additional 400 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Synacor by 43.5% in the first quarter. Wellington Management Group LLP now owns 1,073,900 shares of the information services provider’s stock valued at $4,457,000 after buying an additional 325,700 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Synacor by 1.4% in the first quarter. Renaissance Technologies LLC now owns 1,160,600 shares of the information services provider’s stock valued at $4,816,000 after buying an additional 16,400 shares during the last quarter. Acadian Asset Management LLC lifted its position in shares of Synacor by 9.7% in the second quarter. Acadian Asset Management LLC now owns 85,433 shares of the information services provider’s stock valued at $312,000 after buying an additional 7,576 shares during the last quarter. Finally, Boston Partners acquired a new stake in shares of Synacor in the second quarter valued at approximately $1,122,000. 28.08% of the stock is owned by institutional investors.
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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