Cormark Raises Sangoma Technologies (CVE:STC) Price Target to C$13.00

Sangoma Technologies (CVE:STC) had its price target increased by research analysts at Cormark from C$10.00 to C$13.00 in a note issued to investors on Thursday, BayStreet.CA reports. Cormark’s price target indicates a potential upside of 225.81% from the stock’s previous close.

A number of other brokerages have also issued reports on STC. TD Securities upped their target price on Sangoma Technologies from C$7.50 to C$8.00 in a research report on Thursday. Acumen Capital increased their price objective on shares of Sangoma Technologies from C$7.00 to C$7.50 in a research note on Friday, February 9th.

Sangoma Technologies Trading Up 6.4 %

STC stock traded up C$0.24 during midday trading on Thursday, reaching C$3.99. 92,846 shares of the company’s stock traded hands, compared to its average volume of 292,342. The business has a 50-day moving average price of C$3.99 and a two-hundred day moving average price of C$3.99. Sangoma Technologies has a fifty-two week low of C$2.53 and a fifty-two week high of C$5.50. The company has a debt-to-equity ratio of 23.80, a current ratio of 0.97 and a quick ratio of 0.69. The company has a market capitalization of C$531.28 million and a P/E ratio of 997.50.

Sangoma Technologies (CVE:STC) last issued its quarterly earnings data on Thursday, February 8th. The company reported C($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of C($0.12) by C($0.02). The business had revenue of C$84.79 million for the quarter, compared to the consensus estimate of C$87.86 million. Equities research analysts forecast that Sangoma Technologies will post 0.01 EPS for the current fiscal year.

About Sangoma Technologies

Sangoma Technologies Corporation develops, manufactures, distributes, and supports voice and data connectivity components for software-based communication applications worldwide. The company offers Switchvox, a business phone system; PBXact, a phone system; Internet protocol (IP) phones; service provider and voice over Internet protocol gateways; Switchvox Cloud, a unified communications solution; SIPstation SIP Trunking, a hosted session initiation protocol trunking service; PBXact Cloud, a cloud based private branch exchange service; and FAXStation, a fax-over-IP solution.