Sangoma Technologies (TSE:STC) Trading 3.5% Higher - Here's Why

Key Points

• Sangoma Technologies' stock price rose by 3.5% to C$7.35 after trading as high as C$7.50, with a notable increase in trading volume.
• Analysts have revised their price targets downward, with Acumen Capital setting a new target of C$12.00, while TD Securities and Canaccord Genuity have reduced theirs to C$10.00 and C$8.50 respectively.
• The company reported C$0.01 earnings per share for the latest quarter, indicating a recovery compared to a loss per share of ($0.05) in the previous year.

Sangoma Technologies Co. (TSE:STC - Get Free Report)'s stock price traded up 3.5% during trading on Thursday . The stock traded as high as C$7.50 and last traded at C$7.35. 41,468 shares were traded during mid-day trading, an increase of 42% from the average session volume of 29,238 shares. The stock had previously closed at C$7.10.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Acumen Capital cut their price objective on Sangoma Technologies from C$12.50 to C$12.00 and set a "buy" rating on the stock in a research note on Thursday, September 18th. TD Securities cut their price objective on Sangoma Technologies from C$11.00 to C$10.00 and set a "buy" rating on the stock in a research note on Thursday, September 18th. Finally, Canaccord Genuity Group cut their price objective on Sangoma Technologies from C$10.00 to C$8.50 and set a "speculative buy" rating on the stock in a research note on Thursday, September 18th. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of C$10.63.

Sangoma Technologies Price Performance

The firm has a market capitalization of C$244.98 million, a P/E ratio of -49.00 and a beta of 0.59. The business has a fifty day moving average of C$7.48 and a 200-day moving average of C$7.70. The company has a debt-to-equity ratio of 27.33, a quick ratio of 0.69 and a current ratio of 0.86.

Sangoma Technologies (TSE:STC - Get Free Report) last issued its quarterly earnings data on Wednesday, September 17th. The company reported C$0.01 earnings per share (EPS) 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 period last year, the business posted ($0.05) earnings per share. On average, sell-side analysts forecast that Sangoma Technologies Co. will post 0.01 EPS 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.