Sangoma Technologies (TSE:STC) Shares Climb 2.5% – Here’s Why

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

Wall Street Analyst Weigh In

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

Sangoma Technologies Stock Up 2.5%

The business’s 50 day simple moving average is C$6.08 and its 200 day simple moving average is C$5.79. The company has a current ratio of 0.83, a quick ratio of 0.69 and a debt-to-equity ratio of 16.61. The firm has a market capitalization of C$222.87 million, a PE ratio of -2.71 and a beta of 0.33.

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