Sangoma Technologies (NASDAQ:SANG) Upgraded by Zacks Research to “Hold” Rating

Zacks Research upgraded shares of Sangoma Technologies (NASDAQ:SANG) from a strong sell rating to a hold rating in a report published on Monday morning,Zacks.com reports.

A number of other research analysts also recently commented on SANG. Canaccord Genuity Group downgraded Sangoma Technologies from a “speculative buy” rating to a “hold” rating and lowered their price objective for the stock from $9.00 to $4.00 in a research note on Thursday, May 14th. Weiss Ratings cut Sangoma Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $4.00.

Sangoma Technologies Price Performance

Shares of NASDAQ:SANG opened at $3.95 on Monday. The company has a market cap of $131.59 million, a PE ratio of -20.81 and a beta of 1.27. Sangoma Technologies has a fifty-two week low of $3.40 and a fifty-two week high of $6.46. The firm has a 50-day simple moving average of $3.85 and a 200 day simple moving average of $4.17. The company has a quick ratio of 0.74, a current ratio of 0.90 and a debt-to-equity ratio of 0.07.

Sangoma Technologies (NASDAQ:SANG) last issued its earnings results on Wednesday, May 13th. The company reported ($0.07) earnings per share (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 the consensus estimate of $52.08 million. Sangoma Technologies had a negative return on equity of 2.26% and a negative net margin of 3.04%. On average, sell-side analysts anticipate that Sangoma Technologies will post -0.23 EPS for the current year.

Institutional Investors Weigh In On Sangoma Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Intact Investment Management Inc. grew its position in Sangoma Technologies by 17.9% in the 4th quarter. Intact Investment Management Inc. now owns 652,325 shares of the company’s stock valued at $3,274,000 after buying an additional 99,200 shares in the last quarter. Legacy Advisors LLC acquired a new stake in shares of Sangoma Technologies in the 3rd quarter worth approximately $50,000. Susquehanna International Group LLP boosted its holdings 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 valued at $117,000 after acquiring an additional 12,352 shares in the last quarter. Ewing Morris & Co. Investment Partners Ltd. increased its stake in shares of Sangoma Technologies by 3.1% during the second quarter. Ewing Morris & Co. Investment Partners Ltd. now owns 472,554 shares of the company’s stock valued at $2,923,000 after acquiring an additional 14,397 shares during the period. Finally, Acadian Asset Management LLC raised its holdings in Sangoma Technologies by 51.7% during the first quarter. Acadian Asset Management LLC now owns 181,800 shares of the company’s stock worth $809,000 after purchasing an additional 61,951 shares in the last quarter. 39.65% of the stock is currently owned by institutional investors.

About Sangoma Technologies

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.