Market Overview

UPDATE: Stifel Nicolaus Downgrades Synacor to Hold on Valuation

Related SYNC
Synacor, Inc. (SYNC)in Focus: Stock Moves 6.3% Higher - Tale of the Tape
Bank Of America Sees Search/Display Business Weakness On Synacor

Stifel Nicolaus lowers its rating on Synacor (NASDAQ: SYNC) from Buy to Hold and suspends its previous $10 price target.

Stifel Nicolaus comments, "The facts as we see them are: 1) Synacor has very bright growth prospects with cable MSOs and device manufacturers alike; 2) Despite those bright growth prospects, we do not view SYNC as a classic "Cloud stock" worthy of comparisons to or other enterprise-focused, subscription-based models. SYNC's business model primarily relies upon Search & Display advertising; 3) As such, we view the relevant comp group as being a set of digital advertising enablement providers that are currently trading at a mean EV/EBITDA multiple of 10.7x on CY13. SYNC now trades at 17.6x."

SYNC closed at $14.70 on Thursday.

Posted-In: Stifel NicolausAnalyst Color Downgrades Price Target Pre-Market Outlook Analyst Ratings


Most Popular

Related Articles (SYNC)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters