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Stock Market & Financial Investment News

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December 10, 2013
07:31 EDTSNCRSynchronoss personal cloud product off to good start, says Wells Fargo
After Synchronoss announced that it had 60M+ total cloud customers and that it had signed 10M Personal Cloud customers since launching the platform, Wells Fargo is upbeat on the company's new personal cloud product. The firm notes that the company disclosed in February that it had 56M cloud customers, leading some to believe that it had added only 4M customers since then. But the firm notes that the company stated it has over 60M cloud customers now, and Wells did not expect the company's older network cloud product to grow quickly. The firm keeps an Outperform rating o nthe stock.
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