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SNCR

Synchronoss

$16.20

-0.02 (-0.12%)

16:17
07/17/17
07/17
16:17
07/17/17
16:17

Synchronoss submits plan to regain Nasdaq compliance

Synchronoss Technologies has submitted its plan to Nasdaq detailing how the company plans to regain compliance with Nasdaq's continued listing requirements. On May 16, Synchronoss received a letter from Nasdaq indicating that the company was not in compliance with Nasdaq because the company had not yet filed its Quarterly Report on Form 10-Q for the quarter ended March 31. The company had until July 17 to submit a plan to regain compliance with Nasdaq's continued listing requirements. If the compliance plan is accepted, Nasdaq may grant Synchronoss an extension of up to 180 calendar days from the Form 10-Q's due date, or until November 6, to regain compliance. The company's common stock will continue to trade uninterrupted under its current trading symbol.

SNCR Synchronoss
$16.20

-0.02 (-0.12%)

05/22/17
FBCO
05/22/17
DOWNGRADE
FBCO
Underperform
Synchronoss downgraded to Underperform from Neutral at Credit Suisse
Credit Suisse analyst Michael Nemeroff downgraded Synchronoss (SNCR) to Underperform from Neutral following AT&T's (T) recent announcement that it will be closing the personal cloud "Locker" storage service offering powered by Synchronoss on August 3. The contract, while not currently a significant contributor to Synchronoss' Personal Cloud revenue, was expected to ramp and become more meaningful over time, Nemeroff tells investors. The news also adds more uncertainty regarding the company's contract with Verizon (VZ) that will be up for renewal in the second half of 2018, added the analyst, who has a $13 price target on Synchronoss shares.
05/22/17
05/22/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Momenta (MNTA) downgraded to Equal Weight from Overweight at Barclays with analyst Douglas Tsao citing the likelihood of generic manufacturers, most notably Mylan (MYL), winning approval for generic Copaxone in the coming months. He lowered his price target for the shares to $17 from $20. 2. Zoe's Kitchen (ZOES) downgraded to Neutral from Outperform at Baird with analyst David Tarantino saying he believes the near-term risk profile looks elevated amid signs of sluggish comps for similarly positioned chains and an uptrend in input costs. Tarantino lowered his price target to $20 from $25 on Zoe's Kitchen shares. 3. Arista Networks (ANET) downgraded to Neutral from Buy at DA Davidson with analyst Mark Kelleher citing valuation with the shares up 60% since his initiation in January. 4. Synchronoss (SNCR) downgraded to Underperform from Neutral at Credit Suisse with analyst Michael Nemeroff citing AT&T's (T) recent announcement that it will be closing the personal cloud "Locker" storage service offering powered by Synchronoss on August 3. 5. Centene (CNC) downgraded to Neutral from Overweight at JPMorgan with analyst Gary Taylor citing valuation with the shares up 32% since December 2016. The stock reflects very little probability of Senate Medicaid cuts or block grants, Taylor tells investors in a research note. He keeps a $75 price target for the shares. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
06/14/17
DRXL
06/14/17
DOWNGRADE
DRXL
Hold
Synchronoss downgraded to Hold from Buy at Drexel Hamilton
Drexel Hamilton analyst Greg Mesniaeff downgraded Synchronoss to Hold due to increased risk from the announced restatements for 2015 and 2016. The analyst said the restatements will lead to management credibility issues and could impact its relationships with key customers.
06/22/17
JPMS
06/22/17
NO CHANGE
JPMS
Neutral
Synchronoss comments on carriers should help ease concerns, says JPMorgan
JPMorgan analyst Sterling Auty said that comments made by Synchronoss (SNCR) in a presentation to its lenders regarding AT&T (T) and Verizon (VZ) continuing to be cloud customers should help ease some of the concern investors have had around the company's cloud business. Auty keeps a Neutral rating on Synchronoss shares.

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