Acumen Capital Cuts Sangoma Technologies (TSE:STC) Price Target to C$12.00

Key Points

• Acumen Capital has reduced its price target for Sangoma Technologies (TSE:STC) from C$12.50 to C$12.00, while maintaining a "buy" rating, suggesting a potential upside of 63.27%.
• Sangoma Technologies' stock recently dropped 13.4% to C$7.35, with a market capitalization of C$246.27 million and a PE ratio of -35.00.
• The company reported a quarterly EPS of C$0.01, with analysts forecasting a similar performance for the current year despite a negative net margin of 2.81%.

Sangoma Technologies (TSE:STC - Get Free Report) had its target price reduced by equities researchers at Acumen Capital from C$12.50 to C$12.00 in a research note issued on Thursday,BayStreet.CA reports. The firm presently has a "buy" rating on the stock. Acumen Capital's target price would indicate a potential upside of 70.45% from the company's current price.

A number of other brokerages have also recently weighed in on STC. TD Securities set a C$11.00 price objective on shares of Sangoma Technologies and gave the stock a "buy" rating in a research note on Thursday, September 11th. Stifel Nicolaus set a C$12.00 target price on shares of Sangoma Technologies and gave the company a "buy" rating in a report on Thursday, May 22nd. Four investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of C$10.63.

Sangoma Technologies Trading Down 0.8%

STC traded down C$0.06 during trading hours on Thursday, reaching C$7.04. The company's stock had a trading volume of 47,916 shares, compared to its average volume of 28,300. Sangoma Technologies has a fifty-two week low of C$5.80 and a fifty-two week high of C$11.50. The stock has a market cap of C$235.88 million, a PE ratio of -33.52 and a beta of 1.20. The business's 50-day moving average is C$7.96 and its 200-day moving average is C$7.63. The company has a debt-to-equity ratio of 27.33, a current ratio of 0.86 and a quick ratio of 0.69.

Sangoma Technologies (TSE:STC - Get Free Report) last posted its quarterly earnings data on Wednesday, September 17th. The company reported C$0.01 earnings per share for the quarter. Sangoma Technologies had a negative return on equity of 2.61% and a negative net margin of 2.81%.During the same quarter last year, the company earned ($0.05) EPS. As a group, equities research analysts predict that Sangoma Technologies will post 0.01 earnings per share for the current fiscal year.

About Sangoma Technologies

Sangoma Technologies Corp is a provider of hardware and software components that enable Internet protocol communications systems for both telecom and datacom applications. It is engaged in the development, manufacturing, distribution, and support of voice and data connectivity components for software-based communication applications.