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SNCR

Synchronoss

$0.00

(0.00%)

16:08
08/09/18
08/09
16:08
08/09/18
16:08

Synchronoss names David Clark as new CFO

Synchronoss Technologies announced the appointment of David Clark as Chief Financial Officer, effective immediately. Clark, who recently joined Synchronoss as Executive Vice President of Finance, will replace Lawrence Irving, who has served as Synchronoss' CFO since rejoining the company in April 2017. Irving, who is re-retiring, will serve in a consultative capacity to the company into early 2019 to ensure an orderly transition. Prior to joining Synchronoss, Clark had served as the CFO of The Meet Group, a fast-growing portfolio of mobile applications, from 2013 to 2018. Prior to that, he served as the CFO of Nutrisystem from 2007 to 2013 and as CFO of Claymont Steel from 2006 to 2007.

  • 09

    Aug

SNCR Synchronoss
$0.00

(0.00%)

07/03/18
STFL
07/03/18
NO CHANGE
STFL
Hold
Synchronoss business 'simply doesn't look that good,' says Stifel
Stifel analyst Tom Roderick noted that Synchronoss filed its restated financial statements on Monday morning, which is good news as the company has presumably met its June 30 filing deadline and should be able to petition the NASDAQ for relisting. However, the bad news is that the filings show that "the business simply doesn't look that good," with revenues headed in the wrong direction and cash flow yet to recover, Roderick tells investors. Stating that the fundamentals make it difficult for him to be optimistic, Roderick keeps a Hold rating on Synchronoss shares.
07/30/18
STFL
07/30/18
DOWNGRADE
Target $3
STFL
Sell
Synchronoss downgraded to Sell from Hold at Stifel
Stifel analyst Tom Roderick downgraded Synchronoss to Sell from Hold, stating that recent filings reveal that liquidity issues loom, the company is "out of levers, and time is not on their side." The turnaround required to keep the company from fundraising "feels Herculean," added Roderick, who notes that the company has an outstanding $230M Convertible Debt instrument due in August 2019 and convert holders have filed a lawsuit to have their principal returned at par immediately. He lowered his price target on Synchronoss shares to $3 from $8.
07/30/18
07/30/18
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. Colgate-Palmolive (CL) downgraded to Neutral from Outperform at Macquarie with analyst Caroline Levy saying she does not expect growth to accelerate over the next several quarters and lowered her FY18 organic sales estimate to 0.5% from 1% and FY19 to 2.2% from 3.2%. 2. Alaska Air (ALK) downgraded to Neutral from Outperform at Macquarie. 3. Perrigo (PRGO) downgraded to Hold from Buy at Argus with analyst Jasper Hellweg citing the challenges faced by the company around the "industry-wide price erosion, a legal investigation, and a reduction in FDA approvals." 4. Synchronoss (SNCR) downgraded to Sell from Hold at Stifel with analyst Tom Roderick saying recent filings reveal that liquidity issues loom, the company is "out of levers, and time is not on their side." 5. Synchrony (SYF) downgraded to Equal Weight from Overweight at Barclays with analyst Mark Devries saying the loss of the Walmart (WMT) credit card business heightens contract renewal risk and caps upside in the stock. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/30/18
07/30/18
NO CHANGE

Fly Intel: Today's top analyst calls on Wall Street
Check out today's top analyst calls from around Wall Street, compiled by The Fly. BOFA UPGRADES AT&T TO BUY: Bank of America Merrill Lynch upgraded AT&T (T) to Buy from Neutral as analyst David Barden is positive on AT&T's 20-year low P/E multiple, Timer Warner merger benefits, favorable emerging wireless business trends, and a call option on value extraction from the merger of AT&T's distribution network with Time Warner's content and ad inventory. He keeps a $37 price target on AT&T shares. DEUTSCHE UPS JUNIPER IN 'CONTRARIAN' CALL: Deutsche Bank analyst Vijay Bhagavath upgraded Juniper Networks (JNPR) to Buy from Hold and raised his price target for the shares to $32 from $25. The analyst said he's "going against the grain" and making a "contrarian call." The post-earnings selloff on the "better than feared" Q2 results and below consensus Q3 guidance, which is primarily related to switch router upgrade timing at a handful of cloud and service provider customers, provides a "reasonable entry point." He believes "robust" switch router and next generation security refresh cycles will start in fiscal 2019 and that Juniper's fundamentals will improve from FY19 through FY21. STIFEL CUTS SYNCHRONOS TO SELL: Stifel analyst Tom Roderick downgraded Synchronoss (SNCR) to Sell from Hold, stating that recent filings reveal that liquidity issues loom, the company is "out of levers, and time is not on their side." The turnaround required to keep the company from fundraising "feels Herculean," added Roderick, who lowered his price target on Synchronoss shares to $3 from $8. BUCKINGHAM SAYS FORCED SALE OF CHARTER ASSETS 'UNLIKELY': Buckingham analyst Matthew Harrigan noted that New York's Public Service Commission has moved to push Charter (CHTR) out of the state and presented the company with a 60 day ultimatum to find a buyer for its assets there due to what it views as "repeated failures" to honor its commitments around the 2016 merger with Time Warner Cable. While he thinks an extended court battle seems "virtually certain," Harrigan does not see much likelihood of any forced disposition of its New York State assets. He keeps a Buy rating and $397 price target on Charter shares.

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