Post by
ace1mccoy on Oct 02, 2021 4:32pm
Research Recommendation
Just released to clients a detailed 7 page research report and recommendation for Sangoma STC
Here's a summary of Keystone Financial's comments.
Emerging SaaS Unified Communication Small-Cap Poste Solid Fiscal 2021 Growth, Completes Transformational Acquisition & Issue Strong Growth Guidance for Fiscal 2022 – Maintain BUY
NEAR TERM: BUY
LONG TERM: BUY
ACTION NOTES: Management’s fiscal 2022 adjusted EBITDA guidance of US$41-US$43 million equates to a midpoint of approximately CAD$53.2 million. Based off this, Sangoma trades with a forward EV/Adj. EBITDA multiple of 16.4 times. Using a justified EV/Adj. EBITDA multiple of 19 times, we estimate Sangoma’s fair value at approximately $4.20 per share. Please note that this valuation is reliant on current market conditions over the past 18 months. If companies within the unified communications sector continue to trade with similar historical multiples, we remain confident Sangoma will achieve a similar valuation and can offer upside to shareholders from its current price.
Upgrade Near-term BUY and Maintain Long-Term BUY.
We expect shares to be volatile near term in an uncertain market but Sangoma trades at a significant discount to peers in its current range or lower.
Canadian Small-Cap Growth Stock Research
Comment by
retiredcf on Oct 04, 2021 6:50am
Ryan Irvine is regarded as one of the best on the street and his firm only recommends around a dozen stocks per year after sifting through the data of thousands. GLTA