Sangoma Technologies (TSE:STC) Stock Jumps 2.5% – Here’s Why

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

Wall Street Analyst Weigh In

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

Sangoma Technologies Trading Up 2.5%

The company has a quick ratio of 0.69, a current ratio of 0.83 and a debt-to-equity ratio of 16.61. The stock has a fifty day simple moving average of C$6.08 and a 200 day simple moving average of C$5.79. The firm has a market capitalization of C$222.87 million, a P/E ratio of -2.71 and a beta of 0.33.

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

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 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.