On June 23 2017, the I Know First algorithm issued a bullish 3-day forecast for Synchronoss Technologies (NASDAW:SNCR). SNCR had a signal of 38.06 and a predictability of 0.13. As a result, in accordance with the forecast, the company’s stock had a return of 31.77% over a 3-day period, providing a quick win by the algorithm.

Synchronoss is a global technology and software company that provides services and platforms for the mobile transformation of business. Some services and platforms Synchronoss offers include personal cloud, messaging, identity management and security solutions. The company’s solutions support a digital mobility experience for businesses and consumers enabling the accessing and protecting of their information. The company operates in the North American, European, and Middle Eastern markets. SNCR has notable partnerships with Verizon, Comcast, Target, and Goldman Sachs.

Since the forecast, SNCR received an acquisition offer from Siris Capital Group, LLC. Afterwards, SNCR saw a significant stock increase. Siris offered to purchase SNCR for $18/share. Synchronoss’ Board of Directors has notified shareholders that they plan on reviewing the offer and determining if this is the proper time to be bought out. The offer was made in cash, representing a 69% premium on the stock at the time of the offer. However, the offer is subject to due diligence, including a review of outstanding shareholder litigation and Synchronoss’ financial statements. Siris has reported a 6 week timeline to complete their due diligence. Over the past few quarters, SNCR had been struggling, reporting revenue $14 million below expectations in Q1 of 2017. SNCR is presently trading at $16.05.

Current I Know First subscribers received this bullish forecast on SNCR on June 23, 2017. 

Before making any trading decisions, consult the latest forecast as the algorithm updates predictions daily. You can use the algorithm for intra-day trading. The predictability tends to become stronger with forecasts over longer time-horizons such as the 1-month, 3-month and 1-year forecasts.