tiprankstipranks
Trending News
More News >
Advertisement
Advertisement

Synchronoss Technologies Receives $33.9M Tax Refund

Story Highlights
Synchronoss Technologies Receives $33.9M Tax Refund

Elevate Your Investing Strategy:

  • Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.

The latest update is out from Synchronoss Technologies ( (SNCR) ).

On July 24, 2025, Synchronoss Technologies announced the receipt of an expected tax refund from the 2020 CARES Act, totaling $33.9 million, including $5.9 million in interest. The company has already received $30.2 million and used 75% of it to pay down its term loan, with the final payment of $3.7 million expected before Labor Day 2025. This financial maneuver will save the company approximately $2.9 million annually in interest and reduce its total debt to $173.4 million. The remaining refund proceeds will enhance the company’s operational flexibility and support investment in its Personal Cloud solution, potentially leading to a one-time interest rate reduction based on improved debt leverage.

The most recent analyst rating on (SNCR) stock is a Buy with a $13.00 price target. To see the full list of analyst forecasts on Synchronoss Technologies stock, see the SNCR Stock Forecast page.

Spark’s Take on SNCR Stock

According to Spark, TipRanks’ AI Analyst, SNCR is a Neutral.

The overall stock score is influenced by financial performance risks, particularly the high leverage and net losses. Technical analysis indicates bearish trends. The earnings call highlighted subscriber growth and financial improvements but also noted challenges like revenue decline and net losses. Valuation concerns with a negative P/E ratio further affect the score.

To see Spark’s full report on SNCR stock, click here.

More about Synchronoss Technologies

Synchronoss Technologies (Nasdaq: SNCR) is a global leader in personal Cloud solutions, empowering service providers to establish secure and meaningful connections with their subscribers. The company’s SaaS Cloud platform simplifies onboarding processes and fosters subscriber engagement, resulting in enhanced revenue streams, reduced expenses, and faster time-to-market.

Average Trading Volume: 106,731

Technical Sentiment Signal: Sell

Current Market Cap: $86.35M

For an in-depth examination of SNCR stock, go to TipRanks’ Overview page.

Disclaimer & DisclosureReport an Issue

Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App
1