Acumen Capital Downgrades Sangoma Technologies (TSE:STC) to Tender

Sangoma Technologies (TSE:STC) was downgraded by investment analysts at Acumen Capital from a “buy” rating to a “tender” rating in a report released on Wednesday, BayStreet reports. They currently have a C$7.40 target price on the stock, down from their previous target price of C$11.00. Acumen Capital’s price target would indicate a potential upside of 6.02% from the stock’s previous close.

Separately, TD downgraded shares of Sangoma Technologies from a “buy” rating to a “sell” rating and dropped their target price for the company from C$8.00 to C$7.35 in a research report on Wednesday. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of C$8.25.

Sangoma Technologies Stock Up 38.2%

STC stock opened at C$6.98 on Wednesday. The company has a debt-to-equity ratio of 19.57, a quick ratio of 0.69 and a current ratio of 0.78. Sangoma Technologies has a fifty-two week low of C$4.71 and a fifty-two week high of C$7.62. The firm has a market capitalization of C$232.29 million, a price-to-earnings ratio of -36.74 and a beta of 1.04. The company’s 50 day moving average price is C$5.41 and its 200 day moving average price is C$5.45.

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

Sangoma Technologies Company Profile

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.