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Synchronoss Technologies, Inc. (SNCR) provides cloud solutions and software-based activation for connected devices worldwide.
The companys services include intelligent connectivity management and content synchronization, backup, and sharing service procurement, as well as provisioning, activation, and support services that enable communications service providers, cable operators/multi-services operators, original equipment manufacturers with embedded connectivity, multi-channel retailers, and other customers to accelerate and monetize value-add services for connected devices.
Its Activation Services, Synchronoss Personal Cloud, Synchronoss WorkSpace, and Integrated Life platforms provide automated on-demand, end-to-end order processing, transaction management, service provisioning, device activation, intelligent connectivity and content transfer, synchronization, and social media, as well as enterprise-wide sharing/collaboration through multiple channels, including e-commerce, m-commerce, telesales, enterprise, indirect, and retail outlets.
The company markets and sells its services through direct sales force and strategic partners. Its major customers are Verizon and AT&T.
Shares have formed a bullish "flag" after the Wall Street Journal reported that the firm is exploring sale of the company. The article stated the company could be taken out for $2 billion. Note that the firm already has a market cap. that is above the $2 billion mentioned in the article. Brokerage firm Stifel Nicolaus raised its target price on the stock to $58 following the report putting a $2.5 billion valuation on the company!
52-Weeks Trading Range: $31.84 - $54.05
Entry Point: $49.50
Stop Loss: $47.00
Target Price: $54.45
SNCR closed at $46.35.
