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SNCR

Synchronoss

$9.68

-0.19 (-1.93%)

06:44
12/07/17
12/07
06:44
12/07/17
06:44

Synchronoss granted request to extend stay of Nasdaq suspension

Synchronoss Technologies last night announced that it has received a letter from the Hearings Department of Nasdaq granting the company's request to extend the stay of suspension pending a hearing before the Nasdaq Hearings Panel in late January 2018. As previously disclosed, at the hearing in late January 2018, the company will present its plan to regain compliance with the Nasdaq listing rules and will request the continued listing of its common stock on Nasdaq while it works to become current in its periodic public filings with the SEC.

SNCR Synchronoss
$9.68

-0.19 (-1.93%)

09/19/17
RAJA
09/19/17
DOWNGRADE
RAJA
Underperform
Synchronoss downgraded to Underperform from Outperform at Raymond James
Raymond James analyst Tavis McCourt downgraded Synchronoss (SNCR) two notches to Underperform from Outperform following news Siris Capital is no longer interested in an all-cash transaction for all the outstanding shares of the company and has withdrawn its $18 per share bid from June 22. Further, the analyst believes it increasingly unlikely that the current strategic review will result in an acquisition at a premium and expects share to come under pressure and stay in the range prior to the Siris indication of interest.
09/19/17
09/19/17
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. Under Armour (UA, UAA) downgraded to Underperform from Market Perform at Wells Fargo with Wells Fargo with analyst Tom Nikic saying with consumers having filled their closets with athletic wear over the past seven years, the category "appears poised to take a breather for now." The analyst cut his price target for the shares to $13 from $17. 2. Kellogg (K) downgraded to Neutral from Overweight at Piper Jaffray with analyst Michael Lavery saying cereal could be at risk from shrinking center store space. 3. Nike (NKE) downgraded to Neutral from Positive at Susquehanna saying that his checks indicate that the North American and European businesses are decelerating as some key categories, especially basketball, have underperformed, resulting in excess inventory that will pressure sales and margins. 4. Synchronoss (SNCR) downgraded to Underperform from Outperform at Raymond James with analyst Tavis McCourt citing the news that Siris Capital is no longer interested in an all-cash transaction for all the outstanding shares of the company and has withdrawn its $18 per share bid from June 22. Further, the analyst believes it increasingly unlikely that the current strategic review will result in an acquisition at a premium and expects share to come under pressure and stay in the range prior to the Siris indication of interest. 5. Sony (SNE) downgraded to Neutral from Outperform at Credit Suisse. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/20/17
DBAB
09/20/17
NO CHANGE
Target $10
DBAB
Hold
Synchronoss price target lowered to $10 from $18 at Deutsche Bank
Deutsche Bank analyst Nandan Amladi cut his price target for Synchronoss Technologies to $10 citing increased uncertainty after Siris Capital decided not to pursue an all-cash acquisition of the company. Yesterday's 40% selloff retraces the pre-offer levels in June, Amladi tells investors in a research note. He continues to believe an eventual transaction "provides a clean exit" for Synchronoss shareholders, given the "mounting complications" facing the company. The analyst keeps a Hold rating on the shares.
10/17/17
JPMS
10/17/17
NO CHANGE
JPMS
Neutral
JPMorgan views Synchronoss sale of Intralinks as positive
JPMorgan analyst Sterling Auty calls Synchronoss' sale of Intralinks to Siris Capital a positive transaction saying it gives the company adequate capital and the opportunity to "hit the reset button" focusing on Cloud, Messaging, and Digital Transformation. Auty keeps a Neutral rating on Synchronoss.

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