Sangoma Technologies (NASDAQ:SANG) Trading 0.7% Higher - Time to Buy?

Key Points

• Sangoma Technologies shares rose 0.7% on Monday to $4.13, with trading volume surging to 30,106 shares, far above its average daily volume.
• Recent analyst sentiment has turned cautious to bearish: Canaccord cut the stock to hold and lowered its price target to $4.00, while Zacks and Weiss also issued weaker ratings; the consensus view is now Reduce.
• The company’s latest earnings missed expectations, posting a loss of $0.07 per share on revenue of $51.0 million, and analysts expect full-year EPS to remain negative.

Shares of Sangoma Technologies Corporation (NASDAQ:SANG - Get Free Report) traded up 0.7% during trading on Monday . The stock traded as high as $4.13 and last traded at $4.13. 30,106 shares were traded during mid-day trading, an increase of 671% from the average daily volume of 3,906 shares. The stock had previously closed at $4.10.

Wall Street Analysts Forecast Growth

SANG has been the subject of a number of recent research reports. Canaccord Genuity Group cut shares of Sangoma Technologies from a "speculative buy" rating to a "hold" rating and dropped their price objective for the stock from $9.00 to $4.00 in a research note on Thursday, May 14th. Weiss Ratings raised Sangoma Technologies from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Wednesday, July 15th. Finally, Zacks Research cut Sangoma Technologies from a "hold" rating to a "strong sell" rating in a report on Friday, July 3rd. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Sangoma Technologies currently has an average rating of "Reduce" and an average price target of $4.00.

Sangoma Technologies Stock Up 0.7%

The stock has a market cap of $137.44 million, a price-to-earnings ratio of -21.74 and a beta of 1.28. The company has a current ratio of 0.90, a quick ratio of 0.74 and a debt-to-equity ratio of 0.07. The firm's 50 day moving average is $3.78 and its two-hundred day moving average is $4.24.

Sangoma Technologies (NASDAQ:SANG - Get Free Report) last released its quarterly earnings results on Wednesday, May 13th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.03). The firm had revenue of $51.00 million for the quarter, compared to analyst estimates of $52.08 million. Sangoma Technologies had a negative return on equity of 2.26% and a negative net margin of 3.04%. On average, sell-side analysts predict that Sangoma Technologies Corporation will post -0.23 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Ewing Morris & Co. Investment Partners Ltd. boosted its holdings in shares of Sangoma Technologies by 3.1% during 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 last quarter. Acadian Asset Management LLC increased its stake in Sangoma Technologies by 51.7% in the first quarter. Acadian Asset Management LLC now owns 181,800 shares of the company's stock valued at $809,000 after purchasing an additional 61,951 shares during the last quarter. Royal Bank of Canada increased its stake in Sangoma Technologies by 51.2% in the fourth quarter. Royal Bank of Canada now owns 103,813 shares of the company's stock valued at $526,000 after purchasing an additional 35,173 shares during the last quarter. Susquehanna International Group LLP lifted its position in Sangoma Technologies by 109.0% during the third quarter. Susquehanna International Group LLP now owns 23,689 shares of the company's stock worth $117,000 after buying an additional 12,352 shares during the period. Finally, National Bank of Canada FI lifted its position in Sangoma Technologies by 4.7% during the third quarter. National Bank of Canada FI now owns 100,687 shares of the company's stock worth $493,000 after buying an additional 4,499 shares during the period. 39.65% of the stock is currently owned by institutional investors and hedge funds.

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.

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