Synchronoss stock surges on Buy rating, attractive price target from Roth
Synchronoss Technologies Inc (NASDAQ:SNCR) stock is picking up steam after analysts at Roth initiated coverage of the cloud software company with a Buy rating.
Analyst Richard Baldry issued a $13 price target early Tuesday, almost double the company’s Monday close of $6.67.
Baldry was impressed with the Bridgewater, New Jersey company’s Digital Experience Platform, which helps telecommunications companies automate customer activation and other processes.
READ: Duos Technologies Group to start trading on OTCQX Best Market
The analyst expects growth to accelerate in the near-term as its product spreads to a broadening pool of customers.
“We believe Synchronoss is likely to emerge as an important player in the cloud-infrastructure space,” Baldry wrote “Through its understanding of the next-generation needs of its telecom-centric customer base, with extensibility to support a broader set of corporate prospects looking to compete for the next generation of cloud-based services, we believe Synchronoss is likely to become relevant again to growth investors.
Contact Andrew Kessel at [email protected]
Follow him on Twitter @andrew_kessel
Story by ProactiveInvestors
Source: https://www.proactiveinvestors.com/companies/news/222422/synchronoss-stock-surges-on-buy-rating-attractive-price-target-from-roth-222422.html
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Please Help Support BeforeitsNews by trying our Natural Health Products below!
Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST
Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!
HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation.
Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.
MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser! Cleans out toxic buildup with oxygen!
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover - Reduces Smart Meter radiation by 96%! (See Video).