Sangoma Technologies (TSE:STC) Shares Up 2.5% – Here’s What Happened

Sangoma Technologies Co. (TSE:STC) shares traded up 2.5% during mid-day trading on Wednesday. The company traded as high as C$6.74 and last traded at C$6.65. Approximately 34,201 shares changed hands during mid-day trading, a decline of 35% from the average daily volume of 52,774 shares. The stock had previously closed at C$6.49.

Analysts Set New Price Targets

Several brokerages have recently commented on STC. Acumen Capital downgraded Sangoma Technologies from a “buy” rating to a “tender” rating and reduced their target price for the stock from C$11.00 to C$7.40 in a research note on Wednesday, September 30th. TD cut Sangoma Technologies from a “buy” rating to a “sell” rating and dropped their price target for the company from C$8.00 to C$7.35 in a research note on Wednesday, September 30th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Sangoma Technologies presently has a consensus rating of “Hold” and an average target price of C$8.25.

Sangoma Technologies Stock Performance

The company has a fifty day moving average of C$6.11 and a two-hundred day moving average of C$5.79. The firm has a market capitalization of C$228.24 million, a price-to-earnings ratio of -2.78 and a beta of 0.33. The company has a debt-to-equity ratio of 16.61, a quick ratio of 0.69 and a current ratio of 0.83.

Sangoma Technologies (TSE:STC) last issued its quarterly earnings data on Thursday, November 5th. The company reported C($0.13) EPS for the quarter. The firm had revenue of C$71.27 million during the quarter. Sangoma Technologies had a negative net margin of 39.65% and a negative return on equity of 38.00%. As a group, equities research analysts predict that Sangoma Technologies Co. will post 0.01 earnings per share for the current fiscal year.

About Sangoma Technologies

Sangoma (TSX: STC; Nasdaq: SANG) is a leading business communications platform provider with solutions that include its award-winning UCaaS, CCaaS, CPaaS, and Trunking technologies. The enterprise-grade communications suite is developed in-house; available for cloud, hybrid, or on-premises setups. Additionally, Sangoma provides managed services for connectivity, network, and security. A trusted communications partner with over 40 years on the market, Sangoma has over 2.7 million UC seats across a diversified base of over 100,000 customers.