Q2 2023 EPS Estimates for Sangoma Technologies Co. Boosted by Analyst (NASDAQ:SANG)

Sangoma Technologies Co. (NASDAQ:SANGGet Rating) – Equities research analysts at William Blair increased their Q2 2023 earnings estimates for Sangoma Technologies in a research report issued 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 forecast of ($0.15). William Blair currently 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.

Several other research analysts have also weighed in on the stock. Lake Street Capital dropped their price objective on shares of Sangoma Technologies from $15.00 to $12.00 in a research note on Monday. Canaccord Genuity Group dropped their price objective on shares of Sangoma Technologies from $21.00 to $13.00 in a research note on Wednesday, September 28th. BMO Capital Markets dropped their price objective on shares of Sangoma Technologies from C$30.00 to C$20.00 in a research note on Wednesday, September 28th. Finally, TD Securities dropped their price objective on shares of Sangoma Technologies from C$17.50 to C$16.50 in a research note on Monday.

Sangoma Technologies Stock Down 2.8 %

Sangoma Technologies stock opened at $4.25 on Wednesday. The firm has a market cap of $94.72 million and a PE ratio of -1.27. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.56 and a current ratio of 0.78. The firm’s 50 day moving average price is $5.70 and its two-hundred day moving average price is $7.56. Sangoma Technologies has a twelve month low of $4.25 and a twelve month high of $20.80.

Sangoma Technologies (NASDAQ:SANGGet Rating) last released its quarterly earnings results on Monday, September 26th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.11). Sangoma Technologies had a negative net margin of 46.82% and a negative return on equity of 5.30%. The firm had revenue of $62.50 million for the quarter, compared to analyst estimates of $69.10 million.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of SANG. Pembroke Management LTD boosted its holdings in shares of Sangoma Technologies by 3.5% during the 1st quarter. Pembroke Management LTD now owns 1,080,478 shares of the company’s stock worth $19,211,000 after buying an additional 36,949 shares during the period. Tarbox Family Office Inc. bought a new stake in shares of Sangoma Technologies during the 2nd quarter worth $127,000. PCJ Investment Counsel Ltd. boosted its holdings in shares of Sangoma Technologies by 30.6% during the 1st quarter. PCJ Investment Counsel Ltd. now owns 202,654 shares of the company’s stock worth $2,881,000 after buying an additional 47,500 shares during the period. National Bank of Canada FI boosted its holdings in shares of Sangoma Technologies by 11.5% during the 1st quarter. National Bank of Canada FI now owns 23,807 shares of the company’s stock worth $336,000 after buying an additional 2,465 shares during the period. Finally, Avantax Advisory Services Inc. boosted its holdings in shares of Sangoma Technologies by 27.3% during the 3rd quarter. Avantax Advisory Services Inc. now owns 15,348 shares of the company’s stock worth $81,000 after buying an additional 3,295 shares during the period. Institutional investors and hedge funds own 32.79% of the company’s stock.

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

Earnings History and Estimates for Sangoma Technologies (NASDAQ:SANG)

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