Sangoma Technologies (TSE:STC) Posts Quarterly Earnings Results

Sangoma Technologies (TSE:STC) posted its quarterly earnings results on Thursday. The company reported C($0.13) earnings per share for the quarter, FiscalAI reports. Sangoma Technologies had a negative return on equity of 34.04% and a negative net margin of 37.55%. The firm had revenue of C$71.27 million for the quarter.

Sangoma Technologies Stock Performance

Shares of TSE:STC traded down C$0.10 during midday trading on Thursday, reaching C$6.23. 32,172 shares of the company traded hands, compared to its average volume of 53,054. The firm’s fifty day moving average price is C$5.99 and its two-hundred day moving average price is C$5.79. The firm has a market capitalization of C$208.72 million, a price-to-earnings ratio of -2.55 and a beta of 0.33. The company has a quick ratio of 0.69, a current ratio of 0.78 and a debt-to-equity ratio of 19.57. Sangoma Technologies has a 12 month low of C$4.71 and a 12 month high of C$7.62.

Analysts Set New Price Targets

Several research firms have recently weighed in on STC. Acumen Capital downgraded shares of 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 shares of 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 investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Sangoma Technologies presently has a consensus rating of “Hold” and an average target price of C$8.25.

Sangoma Technologies Company Profile

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 deployments. Additionally, Sangoma’s integrated approach 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.