Sangoma Technologies (TSE:STC) Stock Falls 0.3% – Here’s Why

Sangoma Technologies Co. (TSE:STC) shares were down 0.3% during mid-day trading on Wednesday. The stock traded as low as C$6.57 and last traded at C$6.69. 154,532 shares changed hands during mid-day trading, an increase of 189% from the average session volume of 53,412 shares. The stock had previously closed at C$6.71.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on STC. Acumen Capital lowered Sangoma Technologies from a “buy” rating to a “tender” rating and lowered their price target for the stock from C$11.00 to C$7.40 in a research note on Wednesday, September 30th. TD downgraded Sangoma Technologies from a “buy” rating to a “sell” rating and reduced their target price for the company from C$8.00 to C$7.35 in a research report on Wednesday, September 30th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of C$8.25.

Sangoma Technologies Trading Down 0.9%

The company has a quick ratio of 0.69, a current ratio of 0.78 and a debt-to-equity ratio of 19.57. The company’s fifty day moving average is C$5.81 and its two-hundred day moving average is C$5.58. The stock has a market cap of C$219.78 million, a price-to-earnings ratio of -2.69 and a beta of 0.60.

Sangoma Technologies (TSE:STC) last announced its quarterly earnings results on Monday, September 28th. The company reported C($3.11) EPS for the quarter. Sangoma Technologies had a negative return on equity of 34.04% and a negative net margin of 37.55%. The company had revenue of C$71.17 million for the quarter. On average, research analysts predict that Sangoma Technologies Co. will post 0.01 EPS for the current fiscal year.

About Sangoma Technologies

Sangoma (TSX: STC; Nasdaq: SANG) is a leading business communications platform provider with solutions that include its award-winning UCaaS, CCaaS, CPaaS, and Trunking technologies. The enterprise-grade communications suite is developed in-house; available for cloud, hybrid, or on-premises deployments. Additionally, Sangoma’s integrated approach provides managed services for connectivity, network, and security. A trusted communications partner with over 40 years on the market, Sangoma has over 2.7 million UC seats across a diversified base of over 100,000 customers.