Cormark Analysts Cut Earnings Estimates for Sangoma Technologies Co. (CVE:STC)
Sangoma Technologies Co. (CVE:STC) – Research analysts at Cormark lowered their FY2021 earnings per share estimates for shares of Sangoma Technologies in a research report issued to clients and investors on Thursday, June 25th. Cormark analyst G. Fairweather now expects that the company will post earnings per share of $0.13 for the year, down from their prior estimate of $0.16.
Separately, Pi Financial reissued a “buy” rating and set a C$2.70 target price on shares of Sangoma Technologies in a research note on Tuesday, May 26th.
Sangoma Technologies (CVE:STC) last issued its earnings results on Wednesday, May 27th. The company reported C$0.02 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of C$0.02. The company had revenue of C$36.31 million for the quarter, compared to the consensus estimate of C$35.55 million.
In other Sangoma Technologies news, Senior Officer David Sidney Moore sold 83,000 shares of the firm’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of C$2.20, for a total value of C$182,600.00. Following the transaction, the insider now directly owns 174,258 shares of the company’s stock, valued at C$383,367.60. Also, Director David Mandelstam sold 12,900 shares of the firm’s stock in a transaction on Friday, June 26th. The shares were sold at an average price of C$2.25, for a total transaction of C$29,025.00. Following the completion of the transaction, the director now directly owns 3,764,393 shares in the company, valued at C$8,469,884.25. Over the last three months, insiders have sold 423,000 shares of company stock worth $943,400.
About Sangoma Technologies
Sangoma Technologies Corporation develops, manufactures, distributes, and supports voice and data connectivity components for software-based communication applications worldwide. It offers private branch exchange (PBX) platforms, including PBXact Cloud, a cloud based business communication platform; PBXact, an on-premise PBX phone systems; PBXact SaaS, software as a service; and FreePBX.
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