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Sangoma Technologies Corporation (SANG) Stock Jumps 5.4%: Will It Continue to Soar?
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Sangoma Technologies Corporation (SANG - Free Report) shares rallied 5.4% in the last trading session to close at $5.15. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 2.4% gain over the past four weeks.
Sangoma is capitalizing on the significant growth opportunity in the SMB market, which accounts for 44% of global IT spending. It invests more than $30 billion annually, to offer affordable enterprise-quality support.
This company is expected to post quarterly loss of $0.04 per share in its upcoming report, which represents no change from the year-ago quarter. Revenues are expected to be $60.89 million, down 4.4% 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, nCino (NCNO - Free Report) , finished the last trading session 1.5% higher at $31.45. NCNO has returned -0.4% over the past month.
nCino's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.13. Compared to the company's year-ago EPS, this represents a change of +44.4%. nCino currently boasts a Zacks Rank of #1 (Strong Buy).
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Sangoma Technologies Corporation (SANG) Stock Jumps 5.4%: Will It Continue to Soar?
Sangoma Technologies Corporation (SANG - Free Report) shares rallied 5.4% in the last trading session to close at $5.15. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 2.4% gain over the past four weeks.
Sangoma is capitalizing on the significant growth opportunity in the SMB market, which accounts for 44% of global IT spending. It invests more than $30 billion annually, to offer affordable enterprise-quality support.
This company is expected to post quarterly loss of $0.04 per share in its upcoming report, which represents no change from the year-ago quarter. Revenues are expected to be $60.89 million, down 4.4% 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, nCino (NCNO - Free Report) , finished the last trading session 1.5% higher at $31.45. NCNO has returned -0.4% over the past month.
nCino's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.13. Compared to the company's year-ago EPS, this represents a change of +44.4%. nCino currently boasts a Zacks Rank of #1 (Strong Buy).