Zacks Research Upgrades Sangoma Technologies (NASDAQ:SANG) to "Hold"

Key Points

• Zacks Research upgraded Sangoma Technologies from “strong sell” to “hold,” while the broader analyst consensus is also “Hold” with a $4.00 price target.
• Sangoma’s shares rose 3.8% to open at $3.95, but the company’s latest quarterly results missed expectations, reporting a $0.07-per-share loss versus the projected $0.04 loss and revenue of $51.0 million versus $52.08 million expected.
• Several institutional investors increased their positions, and institutions collectively own 39.65% of Sangoma’s outstanding shares.

Sangoma Technologies (NASDAQ:SANG - Get Free Report) was upgraded by analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a note issued to investors on Monday,Zacks.com reports.

SANG has been the topic of a number of other research reports. Weiss Ratings cut shares of Sangoma Technologies from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Friday. Canaccord Genuity Group lowered shares of Sangoma Technologies from a "speculative buy" rating to a "hold" rating and dropped their price target for the stock from $9.00 to $4.00 in a research report on Thursday, May 14th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $4.00.

Sangoma Technologies Stock Up 3.8%

Sangoma Technologies stock opened at $3.95 on Monday. The firm has a market cap of $131.59 million, a price-to-earnings ratio of -20.81 and a beta of 1.27. The stock has a fifty day simple moving average of $3.85 and a two-hundred day simple moving average of $4.17. Sangoma Technologies has a 12 month low of $3.40 and a 12 month high of $6.46. The company has a current ratio of 0.90, a quick ratio of 0.74 and a debt-to-equity ratio of 0.07.

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 analysts' consensus estimates of ($0.04) by ($0.03). The firm had revenue of $51.00 million during the quarter, compared to analysts' expectations of $52.08 million. Sangoma Technologies had a negative return on equity of 2.26% and a negative net margin of 3.04%. Equities analysts predict that Sangoma Technologies will post -0.23 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Royal Bank of Canada raised its position in Sangoma Technologies by 51.2% in the 4th quarter. Royal Bank of Canada now owns 103,813 shares of the company's stock worth $526,000 after purchasing an additional 35,173 shares during the period. Intact Investment Management Inc. boosted its position in shares of Sangoma Technologies by 17.9% during the fourth quarter. Intact Investment Management Inc. now owns 652,325 shares of the company's stock valued at $3,274,000 after buying an additional 99,200 shares during the period. Susquehanna International Group LLP grew its stake in shares of Sangoma Technologies by 109.0% during the third quarter. Susquehanna International Group LLP now owns 23,689 shares of the company's stock valued at $117,000 after buying an additional 12,352 shares during the last quarter. National Bank of Canada FI grew its stake in shares of Sangoma Technologies by 4.7% during the third quarter. National Bank of Canada FI now owns 100,687 shares of the company's stock valued at $493,000 after buying an additional 4,499 shares during the last quarter. Finally, Scotia Capital Inc. purchased a new stake in shares of Sangoma Technologies in the third quarter worth approximately $90,000. Institutional investors own 39.65% of the company's stock.

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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