Sangoma Technologies (NASDAQ:SANG) Announces Quarterly Earnings Results

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

Sangoma Technologies Trading Up 2.7%

Shares of Sangoma Technologies stock traded up $0.12 during trading hours on Friday, reaching $4.59. 88,379 shares of the company’s stock were exchanged, compared to its average volume of 79,025. Sangoma Technologies has a 52-week low of $3.40 and a 52-week high of $5.41. The company has a fifty day moving average of $4.29 and a 200-day moving average of $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 price-to-earnings ratio of -1.90 and a beta of 1.24.

Wall Street Analyst Weigh In

SANG has been the subject of several recent research reports. Weiss Ratings raised Sangoma Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, August 17th. TD Securities downgraded Sangoma Technologies from a “buy” rating to a “sell” rating and reduced their price objective for the company from C$8.00 to C$7.35 in a research report on Tuesday, September 29th. Finally, Zacks Research raised Sangoma Technologies from a “strong sell” rating to a “hold” rating in a research note on Monday, August 3rd. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Sangoma Technologies presently has a consensus 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.