Item 1.01. Entry into a Material Definitive Agreement.
On July 24, 2015 Synacor, Inc. (“Synacor”) entered into Amendment #6 to Amended and Restated Master Services Agreement (the “Amendment”) with Charter Communications Operating, LLC (“Charter Communications”). The Amendment amends that certain Amended and Restated Master Services Agreement dated April 1, 2010 by and between Synacor and Charter Communications (as amended, the “Agreement”).
The Agreement continues with respect to certain services through December 31, 2015 and will continue thereafter through December 31, 2018, and continues with respect to certain other services until December 31, 2016. Charter Communications retains the ability to terminate the services earlier, upon prior notice and, in certain instances, the payment to Synacor of an early termination fee. The Amendment does not increase the type of services provided by Synacor to Charter Communications.
The foregoing description of the Amendment is only a summary, does not purport to be complete and is qualified in its entirety by reference to the full text of the Amendment, which will be filed as an exhibit to the Company’s Quarterly Report on Form 10-Q for the quarter ending September 30, 2015.
Disaster is already priced in, nobody trust this management. If they show positive Q2 results and some growth along with good 2015/2016 guidance, we will see a rally back to $2+.
Adam's target is based simply on a more reasonable valuation. The stock is priced near book value (priced for bankruptcy) with $100m+ of revenues and positive cash flow.
You would think there would be massive insider buying or stock buy back at these levels. Unless there is insider information (ie the CT order) that is prohibiting it, which means there could be positive news coming.
$2.95 price target is based on 79% p/s, SYNC is currently at 45% p/s with the industry at 441% p/s, a very conservative price target.
Rosenblatt reiterated a Buy rating and $2.95 price target Synacor (NASDAQ: SYNC) seeing a small cap opportunity. Analyst Kirk Adams said that this is a great opportunity for small cap value investors to own Synacor.
Adams commented, "Synacor’s stock price has seen a dramatic decline since the end of April and we see a great opportunity for small cap value investors to own Synacor at these levels. They have restructured and focused the business over the past ten months and also have purchased and partnered with quite a few companies to help lead them into the future. They expect 2Q revenues to be in the range of $24M-$25.5M and adjusted EBITDA in the range of $0.2M-$1.2M. We are estimating $25M in revenues and $0.95M in adjusted EBITA for Q2. Now that their proxy fight is behind them, management’s entire focus will be on the business, which should bring higher dividends going forward. Our price target is $2.95, which is based on 79% price to sales on 2015 revenue of $102M."
For an analyst ratings summary and ratings history on Synacor click here. For more ratings news on Synacor click here.
7/17/2015 Rosenblatt Securities Reiterated BUY Rating on SYNC Target $2.95 +75%
Sentiment: Strong Buy
Was at $1.88 this am when someone sold $13k shares at 1.61??? Makes no sense.
What's up with these SYNC CT orders?
SECURITIES AND EXCHANGE COMMISSION
July 10, 2015
ORDER GRANTING CONFIDENTIAL TREATMENT
UNDER THE SECURITIES EXCHANGE ACT OF 1934
File No. 001-33843 - CF#32585
Synacor, Inc. submitted an application under Rule 24b-2 requesting confidential
treatment for information it excluded from the Exhibits to a Form 10-Q filed on May 14,
Based on representations by Synacor, Inc. that this information qualifies as
confidential commercial or financial information under the Freedom of Information Act,
5 U.S.C. 552(b)(4), the Division of Corporation Finance has determined not to publicly
disclose it. Accordingly, excluded information from the following exhibit(s) will not be
released to the public for the time period(s) specified:
Exhibit 10.1 through February 28, 2017
For the Commission, by the Division of Corporation Finance, pursuant to
Brent J. Fields
5 good videos on 5 products.
Synacor Product Showcase
Brad Wilcox – Synacor Next-Gen Portal
Greg Borowski – Synacor Advanced Video Solutions
John Kavanagh – Synacor Cloud ID Authentication
Tom Peters – Synacor Metadata & Personalization
Shajey Rumi – Synacor Email / Communications