Sangoma Technologies (NASDAQ:SANG) Lowered to “Strong Sell” Rating by Zacks Research

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

Several other research firms have also weighed in on SANG. ATB Cormark Capital Markets raised shares of Sangoma Technologies to a “moderate buy” rating in a research note on Thursday, February 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Sangoma Technologies in a report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Sangoma Technologies has an average rating of “Hold” and an average price target of $11.00.

Sangoma Technologies Stock Performance

SANG stock opened at $4.55 on Monday. The company has a quick ratio of 0.71, a current ratio of 0.87 and a debt-to-equity ratio of 0.09. Sangoma Technologies has a twelve month low of $4.08 and a twelve month high of $6.49. The business’s fifty day moving average is $4.78 and its 200-day moving average is $5.10. The company has a market cap of $150.74 million, a P/E ratio of -28.44 and a beta of 1.32.

Sangoma Technologies (NASDAQ:SANG) last released its earnings results on Wednesday, February 4th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.12). Sangoma Technologies had a negative net margin of 2.53% and a negative return on equity of 1.80%. The company had revenue of $51.50 million during the quarter, compared to analyst estimates of $51.17 million. Equities research analysts forecast that Sangoma Technologies will post -0.18 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SANG. Royal Bank of Canada raised its holdings in shares of 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. Intact Investment Management Inc. boosted its stake in Sangoma Technologies by 17.9% in the 4th quarter. Intact Investment Management Inc. now owns 652,325 shares of the company’s stock worth $3,274,000 after purchasing an additional 99,200 shares during the period. Susquehanna International Group LLP increased its holdings in Sangoma Technologies by 109.0% during the 3rd quarter. Susquehanna International Group LLP now owns 23,689 shares of the company’s stock worth $117,000 after purchasing an additional 12,352 shares in the last quarter. National Bank of Canada FI raised its stake in shares of Sangoma Technologies by 4.7% in the 3rd quarter. National Bank of Canada FI now owns 100,687 shares of the company’s stock valued at $493,000 after purchasing an additional 4,499 shares during the period. Finally, Scotia Capital Inc. bought a new stake in shares of Sangoma Technologies in the third quarter valued at about $90,000. Institutional investors and hedge funds own 39.65% of the company’s stock.

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.