Sangoma Technologies (TSE:STC) Shares Climb 37.8% – Here’s Why

Sangoma Technologies Co. (TSE:STC)’s share price rose 37.8% during trading on Tuesday. The stock traded as high as C$7.09 and last traded at C$6.96. Approximately 888,051 shares changed hands during mid-day trading, an increase of 2,313% from the average daily volume of 36,796 shares. The stock had previously closed at C$5.05.

Wall Street Analysts Forecast Growth

STC has been the topic of a number of research analyst reports. Acumen Capital lowered Sangoma Technologies from a “buy” rating to a “tender” rating and cut their target price for the company from C$11.00 to C$7.40 in a research report on Wednesday. TD downgraded Sangoma Technologies from a “buy” rating to a “sell” rating and decreased their price target for the stock from C$8.00 to C$7.35 in a report on Wednesday. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of C$8.25.

Sangoma Technologies Stock Down 0.1%

The company has a quick ratio of 0.69, a current ratio of 0.78 and a debt-to-equity ratio of 19.57. The firm’s fifty day moving average is C$5.44 and its 200-day moving average is C$5.46. The stock has a market capitalization of C$231.95 million, a PE ratio of -36.68 and a beta of 1.04.

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

About Sangoma Technologies

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.