TD Securities Has Lowered Expectations for Sangoma Technologies (TSE:STC) Stock Price

Key Points

• TD Securities has lowered its price target for Sangoma Technologies (TSE:STC) from C$11.00 to C$10.00, while maintaining a "buy" rating, indicating a potential upside of 36.05% from the stock's previous close.
• Other analysts have also adjusted their ratings, with Acumen Capital lowering their target to C$12.00 and Canaccord Genuity cutting it to C$8.50, yet the overall average rating remains a "buy".
• Sangoma Technologies shares dropped by 13.4% to C$7.35 during trading, and the company reported earnings of C$0.01 per share for the last quarter, with negative margins and return on equity.

Sangoma Technologies (TSE:STC - Get Free Report) had its price objective reduced by stock analysts at TD Securities from C$11.00 to C$10.00 in a report released on Thursday,BayStreet.CA reports. The brokerage currently has a "buy" rating on the stock. TD Securities' target price points to a potential upside of 36.05% from the stock's previous close.

Other equities analysts also recently issued research reports about the company. Acumen Capital cut their target price on Sangoma Technologies from C$12.50 to C$12.00 and set a "buy" rating on the stock in a research report on Thursday. Stifel Nicolaus set a C$12.00 target price on Sangoma Technologies and gave the company a "buy" rating in a research report on Thursday, May 22nd. 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 report on Thursday. Four analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of C$10.63.

Sangoma Technologies Trading Down 13.4%

Shares of TSE STC traded down C$1.14 during trading hours on Thursday, hitting C$7.35. 99,763 shares of the company traded hands, compared to its average volume of 27,937. The stock has a market capitalization of C$246.27 million, a price-to-earnings ratio of -35.00 and a beta of 1.20. The company has a current ratio of 0.86, a quick ratio of 0.69 and a debt-to-equity ratio of 27.33. The company's 50 day moving average price is C$8.01 and its 200 day moving average price is C$7.63. Sangoma Technologies has a 12 month low of C$5.80 and a 12 month high of C$11.50.

Sangoma Technologies (TSE:STC - Get Free Report) last released its earnings results 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 in the prior year, the company posted ($0.05) EPS. On average, equities research analysts anticipate that Sangoma Technologies will post 0.01 earnings per share for the current fiscal year.

Sangoma Technologies Company Profile

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.