Sangoma Technologies (CVE:STC) Trading Up 6.4%

Sangoma Technologies Co. (CVE:STC)’s stock price was up 6.4% during mid-day trading on Friday . The stock traded as high as C$4.00 and last traded at C$3.99. Approximately 92,846 shares changed hands during trading, a decline of 68% from the average daily volume of 292,342 shares. The stock had previously closed at C$3.75.

Analysts Set New Price Targets

Several research analysts have recently issued reports on STC shares. TD Securities upgraded shares of Sangoma Technologies from a “hold” rating to a “buy” rating and boosted their price objective for the stock from C$5.50 to C$6.50 in a report on Friday, February 9th. Acumen Capital boosted their price objective on shares of Sangoma Technologies from C$7.00 to C$7.50 in a report on Friday, February 9th.

Sangoma Technologies Stock Performance

The company has a debt-to-equity ratio of 23.80, a quick ratio of 0.69 and a current ratio of 0.97. The firm’s 50-day moving average price is C$3.99 and its two-hundred day moving average price is C$3.99. The firm has a market capitalization of C$531.28 million and a price-to-earnings ratio of 997.50.

Sangoma Technologies (CVE:STC) last issued its earnings results on Thursday, February 8th. The company reported C($0.14) earnings per share for the quarter, missing the consensus estimate of C($0.12) by C($0.02). The firm had revenue of C$84.79 million for the quarter, compared to analyst estimates of C$87.86 million. Sell-side analysts predict that Sangoma Technologies Co. will post 0.01 earnings per share for the current year.

About Sangoma Technologies

Sangoma Technologies Corporation develops, manufactures, distributes, and supports voice and data connectivity components for software-based communication applications worldwide. The company offers Switchvox, a business phone system; PBXact, a phone system; Internet protocol (IP) phones; service provider and voice over Internet protocol gateways; Switchvox Cloud, a unified communications solution; SIPstation SIP Trunking, a hosted session initiation protocol trunking service; PBXact Cloud, a cloud based private branch exchange service; and FAXStation, a fax-over-IP solution.