William Blair Equities Analysts Raise Earnings Estimates for Sangoma Technologies Co. (NASDAQ:SANG) – MarketBeat
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Sangoma Technologies Co. (NASDAQ:SANG – Get Rating) – Investment analysts at William Blair lifted their Q2 2023 earnings per share estimates for shares of Sangoma Technologies in a note issued to investors on Monday, November 14th. William Blair analyst J. Breen now anticipates that the company will post earnings of ($0.07) per share for the quarter, up from their prior estimate of ($0.15). William Blair has a “Outperform” rating on the stock. The consensus estimate for Sangoma Technologies’ current full-year earnings is ($0.50) per share. William Blair also issued estimates for Sangoma Technologies’ Q3 2023 earnings at ($0.06) EPS, Q4 2023 earnings at ($0.05) EPS, FY2023 earnings at ($0.24) EPS and FY2024 earnings at ($0.11) EPS.
Sangoma Technologies (NASDAQ:SANG – Get Rating) last issued its quarterly earnings data on Monday, September 26th. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.11). Sangoma Technologies had a negative return on equity of 5.30% and a negative net margin of 46.82%. The firm had revenue of $62.50 million for the quarter, compared to analyst estimates of $69.10 million.
A number of other equities research analysts have also recently commented on SANG. TD Securities dropped their target price on Sangoma Technologies from C$17.50 to C$16.50 in a research report on Monday. Lake Street Capital cut their price objective on Sangoma Technologies from $15.00 to $12.00 in a research report on Monday. Canaccord Genuity Group decreased their target price on Sangoma Technologies from $21.00 to $13.00 in a research report on Wednesday, September 28th. Finally, BMO Capital Markets cut their price target on shares of Sangoma Technologies from C$30.00 to C$20.00 in a report on Wednesday, September 28th.
Sangoma Technologies Trading Down 1.8 %
SANG opened at $4.37 on Wednesday. The company has a fifty day moving average of $5.77 and a two-hundred day moving average of $7.61. Sangoma Technologies has a fifty-two week low of $4.37 and a fifty-two week high of $20.80. The company has a quick ratio of 0.56, a current ratio of 0.78 and a debt-to-equity ratio of 0.34.
Hedge Funds Weigh In On Sangoma Technologies
Hedge funds and other institutional investors have recently made changes to their positions in the company. Pembroke Management LTD raised its stake in Sangoma Technologies by 80.1% in the 2nd quarter. Pembroke Management LTD now owns 1,945,884 shares of the company’s stock valued at $21,171,000 after purchasing an additional 865,406 shares during the last quarter. PenderFund Capital Management Ltd. raised its position in shares of Sangoma Technologies by 20.2% in the first quarter. PenderFund Capital Management Ltd. now owns 1,685,400 shares of the company’s stock valued at $29,966,000 after buying an additional 283,430 shares during the last quarter. PCJ Investment Counsel Ltd. boosted its position in Sangoma Technologies by 30.6% during the first quarter. PCJ Investment Counsel Ltd. now owns 202,654 shares of the company’s stock worth $2,881,000 after acquiring an additional 47,500 shares during the last quarter. CLARET ASSET MANAGEMENT Corp boosted its position in Sangoma Technologies by 128.5% during the second quarter. CLARET ASSET MANAGEMENT Corp now owns 68,493 shares of the company’s stock worth $578,000 after acquiring an additional 38,524 shares during the last quarter. Finally, Royal Bank of Canada grew its stake in Sangoma Technologies by 16.8% during the 3rd quarter. Royal Bank of Canada now owns 151,135 shares of the company’s stock valued at $793,000 after acquiring an additional 21,737 shares in the last quarter. Hedge funds and other institutional investors own 32.79% of the company’s stock.
About Sangoma Technologies
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Sangoma Technologies Corporation develops, manufactures, distributes, and supports voice and data connectivity components for software-based communication applications worldwide. The company offers Switchvox, a voice over internet protocol phone system; Switchvox Cloud, a unified communications solution, as well as provides cloud communication solutions.
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