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Sangoma Technologies Corporation (SANG) Soars 5.8%: Is Further Upside Left in the Stock?
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Sangoma Technologies Corporation (SANG - Free Report) shares soared 5.8% in the last trading session to close at $7.80. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 5.3% gain over the past four weeks.
Sangoma is benefiting from its comprehensive growth strategy, which includes expanding its customer base, increasing revenue through new and strategic deals, and improving financial flexibility through strong cash flow and debt reduction.
This company is expected to post quarterly loss of $0.03 per share in its upcoming report, which represents a year-over-year change of +70%. Revenues are expected to be $62.59 million, up 0.5% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Sangoma Technologies Corporation, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on SANG going forward to see if this recent jump can turn into more strength down the road.
Sangoma Technologies Corporation is a member of the Zacks Internet - Software industry. One other stock in the same industry, Udemy, Inc. (UDMY - Free Report) , finished the last trading session 7.5% lower at $7.82. UDMY has returned 6% over the past month.
For Udemy, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.07. This represents a change of +250% from what the company reported a year ago. Udemy currently has a Zacks Rank of #3 (Hold).
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Sangoma Technologies Corporation (SANG) Soars 5.8%: Is Further Upside Left in the Stock?
Sangoma Technologies Corporation (SANG - Free Report) shares soared 5.8% in the last trading session to close at $7.80. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 5.3% gain over the past four weeks.
Sangoma is benefiting from its comprehensive growth strategy, which includes expanding its customer base, increasing revenue through new and strategic deals, and improving financial flexibility through strong cash flow and debt reduction.
This company is expected to post quarterly loss of $0.03 per share in its upcoming report, which represents a year-over-year change of +70%. Revenues are expected to be $62.59 million, up 0.5% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Sangoma Technologies Corporation, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on SANG going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Sangoma Technologies Corporation is a member of the Zacks Internet - Software industry. One other stock in the same industry, Udemy, Inc. (UDMY - Free Report) , finished the last trading session 7.5% lower at $7.82. UDMY has returned 6% over the past month.
For Udemy, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.07. This represents a change of +250% from what the company reported a year ago. Udemy currently has a Zacks Rank of #3 (Hold).