Sangoma Technologies (NASDAQ:SANG) Posts Quarterly Earnings Results

Sangoma Technologies (NASDAQ:SANG) posted its earnings results on Thursday. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01), Zacks reports. The firm had revenue of $50.06 million for the quarter, compared to analyst estimates of $49.89 million. Sangoma Technologies had a negative return on equity of 3.85% and a negative net margin of 38.99%.

Sangoma Technologies Stock Performance

Shares of SANG traded up $0.12 during mid-day trading on Friday, hitting $4.59. The stock had a trading volume of 88,379 shares, compared to its average volume of 52,328. Sangoma Technologies has a fifty-two week low of $3.40 and a fifty-two week high of $5.41. The company has a quick ratio of 0.67, a current ratio of 0.78 and a debt-to-equity ratio of 0.08. The company has a market cap of $153.03 million, a PE ratio of -1.92 and a beta of 1.24. The company’s fifty day simple moving average is $4.27 and its two-hundred day simple moving average is $4.18.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SANG. Weiss Ratings raised Sangoma Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, August 17th. Zacks Research raised shares of Sangoma Technologies from a “strong sell” rating to a “hold” rating in a research note on Monday, August 3rd. Finally, TD Securities lowered Sangoma Technologies from a “buy” rating to a “sell” rating and dropped their price target for the stock from C$8.00 to C$7.35 in a research note on Tuesday, September 29th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Sangoma Technologies has an average rating of “Reduce” and a consensus target price of $4.00.

About Sangoma Technologies

Sangoma Technologies is a communications technology company that provides business communications and information technology solutions to enterprises, service providers and channel partners. Its offerings are designed to help organizations manage voice, video, messaging, collaboration and customer interactions across cloud-based and on-premises environments.

The company’s portfolio includes unified communications as a service, cloud phone systems, contact-center solutions, business phone and video hardware, SIP trunking, managed services, networking and security products, and emergency communications services.