Analysts Offer Insights on Technology Companies: Synchronoss Technologies (NASDAQ: SNCR) and Salesforce.com (NYSE: CRM)

By Austin Angelo

Companies in the Technology sector have received a lot of coverage today as analysts weigh in on Synchronoss Technologies (NASDAQ: SNCR) and Salesforce.com (NYSE: CRM).

Synchronoss Technologies (NASDAQ: SNCR)

In a report released yesterday, Tom Roderick from Stifel Nicolaus reiterated a Hold rating on Synchronoss Technologies (NASDAQ: SNCR), with a price target of $16. The company’s shares closed yesterday at $16.24, close to its 52-week low of $10.11.

According to TipRanks.com, Roderick is a 5-star analyst with an average return of 10.4% and a 63.8% success rate. Roderick covers the Technology sector, focusing on stocks such as CSG Systems International, Nuance Communications, and Dealertrack Holdings.

Currently, the analyst consensus on Synchronoss Technologies is Hold and the average price target is $10, representing a -38.4% downside.

In a report issued on June 14, Drexel Hamilton also downgraded the stock to Hold.
Salesforce.com (NYSE: CRM)

Northland Securities analyst Michael Latimore reiterated a Buy rating on Salesforce.com (NYSE: CRM) yesterday and set a price target of $105. The company’s shares closed yesterday at $88.62, close to its 52-week high of $91.99.

According to TipRanks.com, Latimore is ranked 0 out of 5 stars with an average return of -4.2% and a 44.9% success rate. Latimore covers the Technology sector, focusing on stocks such as Great Elm Capital Corporation, Interactive Intelligence, and Nuance Communications.

Currently, the analyst consensus on Salesforce.com is Strong Buy and the average price target is $99.17, representing an 11.9% upside.

In a report issued on June 19, Stifel Nicolaus also reiterated a Buy rating on the stock with a $105 price target.

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