Shares of Synacor, Inc. (NASDAQ:SYNC) have earned an average rating of “Buy” from the nine ratings firms that are currently covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $5.25.
SYNC has been the subject of a number of recent analyst reports. Canaccord Genuity dropped their price target on shares of Synacor from $8.00 to $6.00 and set a “buy” rating for the company in a research note on Thursday, August 10th. Rosenblatt Securities reaffirmed a “buy” rating and set a $5.50 price target on shares of Synacor in a research note on Monday, June 12th. ValuEngine raised shares of Synacor from a “sell” rating to a “hold” rating in a research note on Monday, September 11th. Finally, Craig Hallum cut shares of Synacor from a “buy” rating to a “hold” rating and lifted their price target for the stock from $3.55 to $4.00 in a research note on Thursday, August 10th.
A number of institutional investors have recently added to or reduced their stakes in SYNC. Bank of New York Mellon Corp boosted its position in Synacor by 0.9% in the 1st 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 period. Cowen Prime Services LLC boosted its position in Synacor by 67.0% in the 2nd quarter. Cowen Prime Services LLC now owns 58,525 shares of the information services provider’s stock valued at $214,000 after buying an additional 23,472 shares during the period. Northern Trust Corp boosted its position in Synacor by 27.5% in the 2nd quarter. Northern Trust Corp now owns 59,744 shares of the information services provider’s stock valued at $218,000 after buying an additional 12,875 shares during the period. Prudential Financial Inc. purchased a new stake in Synacor in the 2nd quarter valued at about $274,000. Finally, Acadian Asset Management LLC boosted its position in Synacor by 9.7% in the 2nd 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 period. 28.08% of the stock is owned by institutional investors.
Shares of Synacor (NASDAQ:SYNC) remained flat at $2.65 during trading on Friday. 58,545 shares of the stock traded hands. Synacor has a 12 month low of $2.30 and a 12 month high of $4.25. The company has a 50 day moving average price of $2.76 and a 200-day moving average price of $3.36. The company’s market cap is $102.47 million.
Synacor (NASDAQ:SYNC) last released its quarterly earnings results on Wednesday, August 9th. The information services provider reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.02. Synacor had a negative net margin of 13.14% and a negative return on equity of 39.21%. The firm had revenue of $31.22 million during the quarter, compared to analysts’ expectations of $29.43 million. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. On average, equities analysts forecast that Synacor will post ($0.32) EPS for the current fiscal year.
Synacor Company Profile
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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