Sangoma Technologies (TSE:STC) Shares Down 0.4% – Here’s Why

Sangoma Technologies Co. (TSE:STC) dropped 0.4% on Monday . The company traded as low as C$7.40 and last traded at C$7.47. Approximately 14,873 shares changed hands during mid-day trading, a decline of 46% from the average daily volume of 27,711 shares. The stock had previously closed at C$7.50.

Analysts Set New Price Targets

A number of brokerages recently issued reports on STC. TD Securities decreased their price target on shares of Sangoma Technologies from C$11.00 to C$10.00 and set a “buy” rating for the company in a research note on Thursday, September 18th. Canaccord Genuity Group lowered their target price on Sangoma Technologies from C$10.00 to C$8.50 and set a “speculative buy” rating on the stock in a report on Thursday, September 18th. Finally, Acumen Capital reduced their price objective on shares of Sangoma Technologies from C$12.50 to C$12.00 and set a “buy” rating on the stock in a research note on Thursday, September 18th. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of C$10.63.

Sangoma Technologies Stock Performance

The company has a current ratio of 0.86, a quick ratio of 0.69 and a debt-to-equity ratio of 27.33. The firm has a 50-day moving average price of C$7.14 and a 200-day moving average price of C$7.68. The company has a market capitalization of C$245.23 million, a price-to-earnings ratio of -46.25 and a beta of 0.54.

Sangoma Technologies (TSE:STC) last issued its quarterly earnings results on Monday, November 10th. The company reported C($0.07) EPS for the quarter. The firm had revenue of C$70.76 million during the quarter. Sangoma Technologies had a negative net margin of 2.81% and a negative return on equity of 2.61%. As a group, sell-side analysts predict that Sangoma Technologies Co. will post 0.01 EPS for the current year.

About Sangoma Technologies

Sangoma Technologies Corp is a provider of hardware and software components that enable Internet protocol communications systems for both telecom and datacom applications. It is engaged in the development, manufacturing, distribution, and support of voice and data connectivity components for software-based communication applications.