Sangoma Technologies (NASDAQ:SANG) Issues Earnings Results, Misses Expectations By $0.01 EPS

Sangoma Technologies (NASDAQ:SANG) issued its earnings results on Thursday. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01), Zacks reports. Sangoma Technologies had a negative return on equity of 3.85% and a negative net margin of 38.99%.

Sangoma Technologies Trading Down 1.1%

Shares of SANG traded down $0.05 during midday trading on Thursday, hitting $4.47. The stock had a trading volume of 58,038 shares, compared to its average volume of 70,095. Sangoma Technologies has a fifty-two week low of $3.40 and a fifty-two week high of $5.41. The business has a 50-day simple moving average of $4.27 and a two-hundred day simple moving average of $4.18. The firm has a market cap of $149.03 million, a P/E ratio of -1.87 and a beta of 1.24. The company has a current ratio of 0.78, a quick ratio of 0.67 and a debt-to-equity ratio of 0.08.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SANG. Zacks Research upgraded Sangoma Technologies from a “strong sell” rating to a “hold” rating in a research report on Monday, August 3rd. Weiss Ratings upgraded Sangoma Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, August 17th. Finally, TD Securities cut Sangoma Technologies from a “buy” rating to a “sell” rating and decreased their target price for the stock from C$8.00 to C$7.35 in a report on Tuesday, September 29th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $4.00.

Sangoma Technologies Company Profile

Sangoma Technologies is a communications technology company that provides business communications and information technology solutions to enterprises, service providers and channel partners. Its offerings are designed to help organizations manage voice, video, messaging, collaboration and customer interactions across cloud-based and on-premises environments.

The company’s portfolio includes unified communications as a service, cloud phone systems, contact-center solutions, business phone and video hardware, SIP trunking, managed services, networking and security products, and emergency communications services.