Needham & Company Maintains a 'Hold' on Synacor (SYNC); Adjusting Estimates After Q2 Review
Tweet
Share
E-mailGet Alerts SYNC Hot Sheet
Price: $2.19 --0%
Rating Summary:
2 Buy, 9 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
Rating Summary:
2 Buy, 9 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
Join SI Premium – FREE
Needham & Company maintains a 'Hold' on Synacor (NASDAQ: SYNC).
Analyst, Laura Martin, said, "We adjust our FY12 estimates to reflect 2Q12 results, management comments made on the earnings call and updated guidance. As a result, we lower our 3Q12 revenue by 7% to $28mm, and FY12 revenue by 2% to $124mm, and our 3Q12 and FY12 EPS by $0.02 and $0.02, respectively. Although management lowered guidance for 3Q12 (which is in our new numbers), we believe the Olympics could drive an upside surprise as contractual payments from customers plus higher advertising revenue and higher search query volumes related to TV Everywhere drive unexpected revenue and profit growth during July and August. The key question is, if the answer is 'yes', how does that impact the longer term profit profile of SYNC and do EPS numbers need to go up for FY13?"
For an analyst ratings summary and ratings history on Synacor click here. For more ratings news on Synacor click here.
Shares of Synacor closed at $12.96 yesterday.
Analyst, Laura Martin, said, "We adjust our FY12 estimates to reflect 2Q12 results, management comments made on the earnings call and updated guidance. As a result, we lower our 3Q12 revenue by 7% to $28mm, and FY12 revenue by 2% to $124mm, and our 3Q12 and FY12 EPS by $0.02 and $0.02, respectively. Although management lowered guidance for 3Q12 (which is in our new numbers), we believe the Olympics could drive an upside surprise as contractual payments from customers plus higher advertising revenue and higher search query volumes related to TV Everywhere drive unexpected revenue and profit growth during July and August. The key question is, if the answer is 'yes', how does that impact the longer term profit profile of SYNC and do EPS numbers need to go up for FY13?"
For an analyst ratings summary and ratings history on Synacor click here. For more ratings news on Synacor click here.
Shares of Synacor closed at $12.96 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- MarineMax (HZO) PT Lowered to $35 at Stifel
- META to capture largest share of users, SNAP to benefit from ad budget shifts - Canaccord Genuity weighs in on TikTok ban
- Tyler Tech (TYL) PT Raised to $500 at Oppenheimer
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS ViewRelated Entities
Needham & Company, EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
