Sangoma Technologies (TSE:STC) Price Target Cut to C$8.50 by Analysts at Canaccord Genuity Group

Key Points

• Canaccord Genuity Group has reduced Sangoma Technologies' price target from C$10.00 to C$8.50, while maintaining a "speculative buy" rating
• Shares of Sangoma Technologies recently traded down C$1.14 to C$7.35, indicating a significant decline amid varying price targets from other analysts, including C$12.00 and C$11.00
• The company's latest earnings report revealed a minor profit of C$0.01 EPS for the quarter, compared to a negative earnings of ($0.05) in the same quarter last year

Sangoma Technologies (TSE:STC - Free Report) had its target price decreased by Canaccord Genuity Group from C$10.00 to C$8.50 in a report released on Thursday morning,BayStreet.CA reports. Canaccord Genuity Group currently has a speculative buy rating on the stock.

STC has been the topic of a number of other research reports. Stifel Nicolaus set a C$12.00 price target on shares of Sangoma Technologies and gave the company a "buy" rating in a research note on Thursday, May 22nd. Acumen Capital cut their price objective on Sangoma Technologies from C$12.50 to C$12.00 and set a "buy" rating for the company in a research note on Thursday. Finally, TD Securities set a C$11.00 target price on Sangoma Technologies and gave the company a "buy" rating in a report on Thursday, September 11th. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of C$10.63.

Sangoma Technologies Stock Performance

TSE:STC traded down C$0.21 during midday trading on Thursday, hitting C$7.10. The company's stock had a trading volume of 50,926 shares, compared to its average volume of 28,192. Sangoma Technologies has a fifty-two week low of C$5.80 and a fifty-two week high of C$11.50. The company has a debt-to-equity ratio of 27.33, a current ratio of 0.86 and a quick ratio of 0.69. The firm has a market cap of C$237.89 million, a P/E ratio of -33.81 and a beta of 1.20. The firm's 50 day moving average is C$7.96 and its 200-day moving average is C$7.63.

Sangoma Technologies (TSE:STC - Get Free Report) last posted its quarterly earnings results on Wednesday, September 17th. The company reported C$0.01 EPS for the quarter. Sangoma Technologies had a negative net margin of 2.81% and a negative return on equity of 2.61%. During the same period last year, the business earned ($0.05) EPS. Equities analysts anticipate 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.