Sangoma Technologies (NASDAQ:SANG) Upgraded to “Hold” at Zacks Research

Sangoma Technologies (NASDAQ:SANG) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

A number of other equities research analysts have also recently commented on the company. Canaccord Genuity Group cut Sangoma Technologies from a “speculative buy” rating to a “hold” rating and decreased their price target for the company from $9.00 to $4.00 in a research note on Thursday, May 14th. Weiss Ratings downgraded Sangoma Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $4.00.

Sangoma Technologies Price Performance

SANG opened at $3.95 on Monday. The company has a market capitalization of $131.59 million, a price-to-earnings ratio of -20.81 and a beta of 1.27. The company has a current ratio of 0.90, a quick ratio of 0.74 and a debt-to-equity ratio of 0.07. Sangoma Technologies has a 12-month low of $3.40 and a 12-month high of $6.46. The business’s fifty day simple moving average is $3.85 and its 200-day simple moving average is $4.17.

Sangoma Technologies (NASDAQ:SANG) last released its quarterly earnings data on Wednesday, May 13th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.03). The business had revenue of $51.00 million for the quarter, compared to the consensus estimate of $52.08 million. Sangoma Technologies had a negative net margin of 3.04% and a negative return on equity of 2.26%. On average, equities research analysts anticipate that Sangoma Technologies will post -0.23 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sangoma Technologies

Several hedge funds have recently added to or reduced their stakes in SANG. Intact Investment Management Inc. raised its stake in shares of Sangoma Technologies by 17.9% during the 4th quarter. Intact Investment Management Inc. now owns 652,325 shares of the company’s stock valued at $3,274,000 after buying an additional 99,200 shares during the last quarter. Ewing Morris & Co. Investment Partners Ltd. boosted its stake in shares of Sangoma Technologies by 3.1% in the second quarter. Ewing Morris & Co. Investment Partners Ltd. now owns 472,554 shares of the company’s stock worth $2,923,000 after buying an additional 14,397 shares during the last quarter. Acadian Asset Management LLC boosted its stake in shares of Sangoma Technologies by 51.7% in the first quarter. Acadian Asset Management LLC now owns 181,800 shares of the company’s stock worth $809,000 after buying an additional 61,951 shares during the last quarter. Royal Bank of Canada grew its holdings in Sangoma Technologies by 51.2% during the fourth quarter. Royal Bank of Canada now owns 103,813 shares of the company’s stock worth $526,000 after acquiring an additional 35,173 shares during the period. Finally, National Bank of Canada FI grew its holdings in Sangoma Technologies by 4.7% during the third quarter. National Bank of Canada FI now owns 100,687 shares of the company’s stock worth $493,000 after acquiring an additional 4,499 shares during the period. 39.65% of the stock is owned by hedge funds and other institutional investors.

About Sangoma Technologies

Sangoma Technologies Corporation (NASDAQ:SANG) is a global provider of enterprise communications solutions that enable organizations to deploy voice, video, and data services across on-premises and cloud environments. The company’s offerings include unified communications platforms, SIP-based telephony hardware, VoIP gateways, session border controllers, and related endpoints. Sangoma serves small and medium-sized businesses as well as larger enterprises, delivering solutions for IP telephony, collaboration, contact centers, and SIP trunking.

The company’s product portfolio comprises software-based PBX systems such as PBXact and FreePBX, along with hardware appliances for secure and scalable connectivity.