Northland Securities Keeps a Buy Rating on Synchronoss Technologies (SNCR)

In a report released today, Michael Latimore from Northland Securities maintained a Buy rating on Synchronoss Technologies (SNCRResearch Report), with a price target of $6.50. The company’s shares closed last Friday at $5.05.

According to TipRanks.com, Latimore is a top 100 analyst with an average return of 43.1% and a 66.3% success rate. Latimore covers the Technology sector, focusing on stocks such as Comtech Telecommunications, Ribbon Communications, and Limelight Networks.

Currently, the analyst consensus on Synchronoss Technologies is a Moderate Buy with an average price target of $6.50.

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Based on Synchronoss Technologies’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $68.64 million and GAAP net loss of $5.68 million. In comparison, last year the company earned revenue of $52.21 million and had a GAAP net loss of $61.24 million.

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Synchronoss Technologies, Inc. engages in the provision of cloud and enterprise solutions It offers software-based activation for connected devices globally. Its platform includes cloud home, personal cloud content transfer, and out-of-box experience; advance messaging and email suite; journey creation and advisor, digital coach, digital portal, and activation; internet-of-things, and smart buildings. The company was founded by James M. McCormick and Stephen G. Waldis in December 2000 and is headquartered in Bridgewater, NJ.