Sangoma Technologies (NASDAQ:SANG) Announces Quarterly Earnings Results

Sangoma Technologies (NASDAQ:SANG) issued its quarterly earnings results on Thursday. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01), Zacks reports. Sangoma Technologies had a negative return on equity of 3.85% and a negative net margin of 38.99%. The business had revenue of $50.06 million for the quarter, compared to analyst estimates of $49.89 million.

Sangoma Technologies Stock Performance

Shares of NASDAQ:SANG traded up $0.12 on Friday, hitting $4.59. 88,379 shares of the company were exchanged, compared to its average volume of 52,328. Sangoma Technologies has a 1-year low of $3.40 and a 1-year high of $5.41. The stock’s 50 day moving average price is $4.27 and its 200 day moving average price is $4.18. The company has a current ratio of 0.78, a quick ratio of 0.67 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $153.03 million, a P/E ratio of -1.92 and a beta of 1.24.

Analysts Set New Price Targets

A number of analysts have recently weighed in on SANG shares. TD Securities downgraded Sangoma Technologies from a “buy” rating to a “sell” rating and dropped their target price for the stock from C$8.00 to C$7.35 in a research note on Tuesday, September 29th. Weiss Ratings upgraded Sangoma Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, August 17th. Finally, Zacks Research raised Sangoma Technologies from a “strong sell” rating to a “hold” rating in a report on Monday, August 3rd. One analyst has rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $4.00.

About Sangoma Technologies

Sangoma Technologies is a communications technology company that provides business communications and information technology solutions to enterprises, service providers and channel partners. Its offerings are designed to help organizations manage voice, video, messaging, collaboration and customer interactions across cloud-based and on-premises environments.

The company’s portfolio includes unified communications as a service, cloud phone systems, contact-center solutions, business phone and video hardware, SIP trunking, managed services, networking and security products, and emergency communications services.