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

Sangoma Technologies (NASDAQ:SANG) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Several other equities analysts also recently issued reports on SANG. Canaccord Genuity Group downgraded shares of Sangoma Technologies from a “speculative buy” rating to a “hold” rating and cut their price objective for the company from $9.00 to $4.00 in a report on Thursday, May 14th. Weiss Ratings cut shares of Sangoma Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Sangoma Technologies currently has a consensus rating of “Hold” and a consensus price target of $4.00.

Sangoma Technologies Stock Up 3.8%

Shares of SANG stock opened at $3.95 on Monday. The stock’s fifty day moving average price is $3.85 and its 200 day moving average price is $4.17. Sangoma Technologies has a 1-year low of $3.40 and a 1-year high of $6.46. The company has a market cap of $131.59 million, a price-to-earnings ratio of -20.81 and a beta of 1.27. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.90 and a quick ratio of 0.74.

Sangoma Technologies (NASDAQ:SANG) last released its quarterly earnings results on Wednesday, May 13th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.03). The business had revenue of $51.00 million during the quarter, compared to analysts’ expectations of $52.08 million. Sangoma Technologies had a negative net margin of 3.04% and a negative return on equity of 2.26%. On average, research analysts expect that Sangoma Technologies will post -0.23 earnings per share for the current fiscal year.

Institutional Trading of Sangoma Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Legacy Advisors LLC purchased a new stake in Sangoma Technologies during the 3rd quarter valued at about $50,000. Scotia Capital Inc. acquired a new position in shares of Sangoma Technologies in the third quarter valued at about $90,000. Susquehanna International Group LLP raised its stake in shares of Sangoma Technologies by 109.0% in the third quarter. Susquehanna International Group LLP now owns 23,689 shares of the company’s stock worth $117,000 after purchasing an additional 12,352 shares during the last quarter. National Bank of Canada FI raised its stake in shares of Sangoma Technologies by 4.7% in the third quarter. National Bank of Canada FI now owns 100,687 shares of the company’s stock worth $493,000 after purchasing an additional 4,499 shares during the last quarter. Finally, Royal Bank of Canada lifted its holdings in shares of Sangoma Technologies by 51.2% during the fourth 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. Institutional investors and hedge funds 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.