TD Securities Cuts Sangoma Technologies (NASDAQ:SANG) Price Target to C$16.50 – MarketBeat
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Sangoma Technologies (NASDAQ:SANG – Get Rating) had its target price lowered by equities research analysts at TD Securities from C$17.50 to C$16.50 in a report issued on Monday, The Fly reports.
Other equities research analysts also recently issued reports about the stock. Canaccord Genuity Group decreased their price target on shares of Sangoma Technologies from $21.00 to $13.00 in a research note on Wednesday, September 28th. Lake Street Capital decreased their price target on shares of Sangoma Technologies from $15.00 to $12.00 in a research note on Monday. William Blair started coverage on shares of Sangoma Technologies in a research note on Thursday, September 22nd. They issued an “outperform” rating for the company. Finally, BMO Capital Markets decreased their price target on shares of Sangoma Technologies from C$30.00 to C$20.00 in a research note on Wednesday, September 28th.
Sangoma Technologies Trading Down 3.9 %
NASDAQ SANG traded down $0.19 during mid-day trading on Monday, reaching $4.70. 1,400 shares of the stock were exchanged, compared to its average volume of 2,937. Sangoma Technologies has a one year low of $4.64 and a one year high of $22.21. The stock has a 50 day simple moving average of $5.93 and a 200-day simple moving average of $7.72. The stock has a market cap of $104.76 million and a P/E ratio of -1.41. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.78 and a quick ratio of 0.56.
Sangoma Technologies (NASDAQ:SANG – Get Rating) last announced its earnings results on Monday, September 26th. The company reported ($0.23) earnings per share 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 the consensus estimate of $69.10 million. On average, analysts anticipate that Sangoma Technologies will post -0.5 EPS for the current year.
Institutional Investors Weigh In On Sangoma Technologies
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Pembroke Management LTD boosted its stake in Sangoma Technologies by 80.1% in the second quarter. Pembroke Management LTD now owns 1,945,884 shares of the company’s stock valued at $21,171,000 after acquiring an additional 865,406 shares during the last quarter. PenderFund Capital Management Ltd. boosted its stake in 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 acquiring an additional 283,430 shares during the last quarter. PCJ Investment Counsel Ltd. boosted its stake in Sangoma Technologies by 30.6% in the first quarter. PCJ Investment Counsel Ltd. now owns 202,654 shares of the company’s stock valued at $2,881,000 after acquiring an additional 47,500 shares during the last quarter. CLARET ASSET MANAGEMENT Corp boosted its stake in Sangoma Technologies by 128.5% in the second quarter. CLARET ASSET MANAGEMENT Corp now owns 68,493 shares of the company’s stock valued at $578,000 after acquiring an additional 38,524 shares during the last quarter. Finally, HighTower Advisors LLC bought a new stake in shares of Sangoma Technologies in the first quarter valued at approximately $303,000. 32.79% of the stock is owned by institutional investors.
Sangoma Technologies Company Profile
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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.
Further Reading
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