Sangoma Technologies (SANG) to Release Earnings on Thursday

Sangoma Technologies (NASDAQ:SANG – Get Rating) is scheduled to post its quarterly earnings results after the market closes on Thursday, May 11th. Analysts expect Sangoma Technologies to post earnings of ($0.06) per share for the quarter.

Sangoma Technologies (NASDAQ:SANG – Get Rating) last announced its quarterly earnings results on Thursday, February 9th. The company reported ($0.08) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.08). The business had revenue of $62.04 million for the quarter, compared to analyst estimates of $67.12 million. Sangoma Technologies had a negative return on equity of 6.00% and a negative net margin of 45.43%. On average, analysts expect Sangoma Technologies to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Sangoma Technologies Stock Down 3.2 %

Shares of NASDAQ:SANG opened at $3.58 on Wednesday. The business’s 50 day simple moving average is $3.66 and its two-hundred day simple moving average is $4.26. The firm has a market cap of $85.56 million, a P/E ratio of -1.07 and a beta of 0.69. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.50 and a current ratio of 0.78. Sangoma Technologies has a 52-week low of $3.30 and a 52-week high of $10.07.

Analyst Ratings Changes

A number of analysts recently commented on SANG shares. Northland Securities decreased their price target on Sangoma Technologies from $15.00 to $13.00 and set an “outperform” rating for the company in a research report on Monday, February 13th. Canaccord Genuity Group decreased their price target on Sangoma Technologies from $13.00 to $12.00 and set a “buy” rating for the company in a research report on Monday, February 13th. Finally, TD Securities decreased their price target on Sangoma Technologies from C$16.50 to C$14.50 in a research report on Monday, February 13th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SANG. HighTower Advisors LLC bought a new position in shares of Sangoma Technologies in the 1st quarter worth approximately $303,000. Royal Bank of Canada grew its stake in shares of Sangoma Technologies by 10.3% in the 1st quarter. Royal Bank of Canada now owns 100,861 shares of the company’s stock worth $1,438,000 after buying an additional 9,401 shares during the last quarter. PenderFund Capital Management Ltd. grew its stake in shares of Sangoma Technologies by 20.2% in the 1st quarter. PenderFund Capital Management Ltd. now owns 1,685,400 shares of the company’s stock worth $29,966,000 after buying an additional 283,430 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Sangoma Technologies by 10.8% in the 4th quarter. The Manufacturers Life Insurance Company now owns 433,136 shares of the company’s stock worth $2,030,000 after buying an additional 42,360 shares during the last quarter. Institutional investors own 31.00% of the company’s stock.

About Sangoma Technologies

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Sangoma Technologies Corp. engages in the provision of value-based Communications as a Service (CaaS) solutions for businesses. The firm’s CaaS offerings include Unified Communications as a Service, Trunking as a Service, Contact Center as a Service, Communications Platform as a Service, Video Meetings as a Service, Collaboration as a Service, Desktop as a Service, and Access Control as a Service.