Synacor, Inc. (SYNC) Raised to “Hold” at ValuEngine

ValuEngine upgraded shares of Synacor, Inc. (NASDAQ:SYNC) from a sell rating to a hold rating in a research report report published on Monday morning.

Other research analysts have also issued reports about the stock. Canaccord Genuity lowered their target price on shares of Synacor from $8.00 to $6.00 and set a buy rating on the stock in a research report on Thursday, August 10th. Rosenblatt Securities restated a buy rating and set a $5.50 target price on shares of Synacor in a research report on Monday, June 12th. Zacks Investment Research lowered shares of Synacor from a buy rating to a hold rating in a research report on Wednesday, May 17th. Finally, Craig Hallum lowered shares of Synacor from a buy rating to a hold rating and upped their target price for the stock from $3.55 to $4.00 in a research report on Thursday, August 10th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of Buy and a consensus price target of $5.00.

Synacor (NASDAQ SYNC) opened at 2.80 on Monday. Synacor has a 1-year low of $2.30 and a 1-year high of $4.25. The stock’s market capitalization is $108.27 million. The firm has a 50-day moving average of $2.91 and a 200-day moving average of $3.37.

Synacor (NASDAQ:SYNC) last issued its earnings results on Wednesday, August 9th. The information services provider reported ($0.09) earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $31.22 million for the quarter, compared to analyst estimates of $29.43 million. Synacor’s revenue was up 2.4% compared to the same quarter last year. Equities research analysts anticipate that Synacor will post ($0.32) EPS for the current year.

TRADEMARK VIOLATION WARNING: “Synacor, Inc. (SYNC) Raised to “Hold” at ValuEngine” was reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this report on another site, it was illegally copied and republished in violation of US and international copyright and trademark legislation. The correct version of this report can be viewed at https://ledgergazette.com/2017/09/14/synacor-inc-sync-raised-to-hold-at-valuengine.html.

Several hedge funds and other institutional investors have recently made changes to their positions in SYNC. Bank of New York Mellon Corp lifted its holdings 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 purchasing an additional 400 shares in the last quarter. EAM Investors LLC purchased a new stake in shares of Synacor in the first quarter valued at about $593,000. Wellington Management Group LLP lifted its holdings 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 purchasing an additional 325,700 shares in the last quarter. Diversified Investment Strategies LLC lifted its holdings in shares of Synacor by 2.4% in the first quarter. Diversified Investment Strategies LLC now owns 523,500 shares of the information services provider’s stock valued at $2,173,000 after purchasing an additional 12,500 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings 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 purchasing an additional 16,400 shares in the last quarter. 28.08% of the stock is currently owned by institutional investors.

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Synacor (NASDAQ:SYNC)

Receive News & Ratings for Synacor Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synacor Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply