Dear Saul,
I am referring to this analyst (Stifel Nicolaus) who downgraded the stock based upon their belief that the cloud business did not do as well as perceived based on $18M that they think was a one time boost to cloud revenues last quarter:
Synchronoss did catch an analyst downgrade on Thursday, which could be contributing to the decline in the stock price. Stifel Nicolaus lowered its rating on Synchronoss from “buy” to “hold,” citing concerns that the quality of the company’s cloud revenue is lower than it appears. It believes that Synchronoss’ joint venture with Verizon contributed at least $18 million in one-time cloud revenue, boosting the company’s results during the fourth quarter.
http://www.fool.com/investing/general/2016/02/04/why-shares-…
Sincerely,
Charlie