Sangoma Technologies (TSE:STC) Shares Down 0.3% – What’s Next?

Sangoma Technologies Co. (TSE:STC)’s share price traded down 0.3% on Wednesday. The company traded as low as C$6.57 and last traded at C$6.69. 154,532 shares were traded during mid-day trading, an increase of 189% from the average daily volume of 53,412 shares. The stock had previously closed at C$6.71.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on STC. Acumen Capital downgraded Sangoma Technologies from a “buy” rating to a “tender” rating and dropped their target price for the stock from C$11.00 to C$7.40 in a research note on Wednesday, September 30th. TD cut Sangoma Technologies from a “buy” rating to a “sell” rating and decreased 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. Based on data from MarketBeat.com, Sangoma Technologies has an average rating of “Hold” and an average target price of C$8.25.

Sangoma Technologies Stock Down 0.3%

The company’s 50-day moving average is C$5.79 and its 200 day moving average is C$5.57. The stock has a market capitalization of C$224.14 million, a PE ratio of -2.74 and a beta of 0.60. The company has a current ratio of 0.78, a quick ratio of 0.69 and a debt-to-equity ratio of 19.57.

Sangoma Technologies (TSE:STC) last released its earnings results on Monday, September 28th. The company reported C($3.11) earnings per share for the quarter. The company had revenue of C$71.17 million for the quarter. Sangoma Technologies had a negative return on equity of 34.04% and a negative net margin of 37.55%. As a group, analysts anticipate that Sangoma Technologies Co. will post 0.01 EPS 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 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.