Sangoma Technologies (NASDAQ:SANG) Stock Rating Lowered by Zacks Research

Sangoma Technologies (NASDAQ:SANG) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Monday,Zacks.com reports.

Several other research firms have also issued reports on SANG. Weiss Ratings reissued a “sell (d-)” rating on shares of Sangoma Technologies in a research report on Thursday, January 22nd. ATB Cormark Capital Markets raised Sangoma Technologies to a “moderate buy” rating in a report on Thursday, February 5th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $11.00.

Sangoma Technologies Price Performance

Shares of NASDAQ:SANG opened at $4.55 on Monday. The business has a 50 day moving average price of $4.78 and a 200 day moving average price of $5.10. The company has a market cap of $150.74 million, a price-to-earnings ratio of -28.44 and a beta of 1.32. The company has a quick ratio of 0.71, a current ratio of 0.87 and a debt-to-equity ratio of 0.09. Sangoma Technologies has a twelve month low of $4.08 and a twelve month high of $6.49.

Sangoma Technologies (NASDAQ:SANG) last released its earnings results on Wednesday, February 4th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.12). Sangoma Technologies had a negative net margin of 2.53% and a negative return on equity of 1.80%. The company had revenue of $51.50 million for the quarter, compared to analyst estimates of $51.17 million. Research analysts predict that Sangoma Technologies will post -0.18 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SANG. Intact Investment Management Inc. increased its stake in shares of Sangoma Technologies by 17.9% in the 4th quarter. Intact Investment Management Inc. now owns 652,325 shares of the company’s stock valued at $3,274,000 after buying an additional 99,200 shares during the period. Ewing Morris & Co. Investment Partners Ltd. increased its position in Sangoma Technologies by 3.1% in the second quarter. Ewing Morris & Co. Investment Partners Ltd. now owns 472,554 shares of the company’s stock worth $2,923,000 after purchasing an additional 14,397 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Sangoma Technologies by 1.6% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 291,533 shares of the company’s stock worth $1,808,000 after purchasing an additional 4,700 shares during the last quarter. Acadian Asset Management LLC raised its holdings in Sangoma Technologies by 51.7% during the 1st quarter. Acadian Asset Management LLC now owns 181,800 shares of the company’s stock worth $809,000 after purchasing an additional 61,951 shares during the last quarter. Finally, Claret Asset Management Corp lifted its position in Sangoma Technologies by 8.5% during the 3rd quarter. Claret Asset Management Corp now owns 166,975 shares of the company’s stock valued at $829,000 after purchasing an additional 13,040 shares during the period. Institutional investors and hedge funds own 39.65% of the company’s stock.

Sangoma Technologies Company Profile

Sangoma Technologies Corporation (NASDAQ:SANG) is a global provider of enterprise communications solutions that enable organizations to deploy voice, video, and data services across on-premises and cloud environments. The company’s offerings include unified communications platforms, SIP-based telephony hardware, VoIP gateways, session border controllers, and related endpoints. Sangoma serves small and medium-sized businesses as well as larger enterprises, delivering solutions for IP telephony, collaboration, contact centers, and SIP trunking.

The company’s product portfolio comprises software-based PBX systems such as PBXact and FreePBX, along with hardware appliances for secure and scalable connectivity.