Sangoma Technologies (TSE:STC) Stock Price Down 13.4% Following Analyst Downgrade

Sangoma Technologies Co. (TSE:STC)’s share price was down 13.4% during trading on Thursday after TD Securities lowered their price target on the stock from C$11.00 to C$10.00. TD Securities currently has a buy rating on the stock. Sangoma Technologies traded as low as C$6.48 and last traded at C$7.35. Approximately 99,763 shares changed hands during mid-day trading, an increase of 257% from the average daily volume of 27,937 shares. The stock had previously closed at C$8.49.

Several other equities research analysts have also recently commented on the stock. Canaccord Genuity Group dropped their price target on shares of Sangoma Technologies from C$10.00 to C$8.50 and set a “speculative buy” rating on the stock in a research report on Thursday. Acumen Capital cut their price objective on Sangoma Technologies from C$12.50 to C$12.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Stifel Nicolaus set a C$12.00 target price on Sangoma Technologies and gave the company a “buy” rating in a research note on Thursday, May 22nd. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Sangoma Technologies presently has an average rating of “Buy” and a consensus target price of C$10.63.

Sangoma Technologies Trading Down 13.9%

The firm has a market cap of C$244.93 million, a P/E ratio of -34.81 and a beta of 1.20. The company has a debt-to-equity ratio of 27.33, a quick ratio of 0.69 and a current ratio of 0.86. The company has a 50 day moving average of C$7.98 and a 200 day moving average of C$7.63.

Sangoma Technologies (TSE:STC) last released its quarterly earnings results on Wednesday, September 17th. The company reported C$0.01 EPS for the quarter. Sangoma Technologies had a negative net margin of 2.81% and a negative return on equity of 2.61%. During the same period last year, the business earned ($0.05) EPS. Analysts predict that Sangoma Technologies Co. will post 0.01 EPS for the current fiscal year.

Sangoma Technologies Company Profile

Sangoma Technologies Corp is a provider of hardware and software components that enable Internet protocol communications systems for both telecom and datacom applications. It is engaged in the development, manufacturing, distribution, and support of voice and data connectivity components for software-based communication applications.