Pareteum Corp (NYSEAMERICAN:TEUM) Receives Average Recommendation of “Buy” from Analysts
Shares of Pareteum Corp (NYSEAMERICAN:TEUM) have been assigned an average recommendation of “Buy” from the eight research firms that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12 month target price among analysts that have covered the stock in the last year is $7.50.
A number of research firms recently weighed in on TEUM. Zacks Investment Research downgraded shares of GenMark Diagnostics from a “hold” rating to a “sell” rating in a research note on Wednesday, April 24th. Lake Street Capital set a $7.00 price target on shares of Pareteum and gave the stock a “buy” rating in a research note on Monday, July 1st. Maxim Group restated a “buy” rating and set a $9.00 price objective on shares of Pareteum in a report on Friday, June 28th. Oppenheimer initiated coverage on shares of Pareteum in a report on Friday, April 26th. They set an “outperform” rating and a $7.00 price objective for the company. Finally, CIBC initiated coverage on shares of Pareteum in a report on Friday, April 26th. They set an “outperform” rating and a $7.00 price objective for the company.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Perkins Capital Management Inc. boosted its holdings in Pareteum by 38.8% during the first quarter. Perkins Capital Management Inc. now owns 1,345,407 shares of the technology company’s stock worth $6,122,000 after purchasing an additional 376,428 shares during the last quarter. ACG Wealth bought a new stake in Pareteum during the first quarter worth $134,000. Tibra Equities Europe Ltd bought a new stake in Pareteum during the first quarter worth $1,059,000. Advisor Group Inc. raised its position in Pareteum by 2,234.8% during the first quarter. Advisor Group Inc. now owns 189,892 shares of the technology company’s stock worth $864,000 after acquiring an additional 181,759 shares in the last quarter. Finally, Alpine Global Management LLC bought a new stake in Pareteum during the first quarter worth $145,000.
Pareteum (NYSEAMERICAN:TEUM) last released its quarterly earnings results on Tuesday, May 7th. The technology company reported ($0.01) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.03) by $0.02. The firm had revenue of $23.04 million during the quarter, compared to analyst estimates of $20.90 million.
Pareteum Corporation operates a communications cloud services platform in Europe and internationally. Its platform provides mobility, messaging, and security services and applications, with a single-sign-on, application program interface (API), and software development suite. The company's platform hosts integrated IT/back office and core network functionality for mobile network operators, as well as for enterprises to implement and leverage mobile communications solutions on a SaaS, PaaS, or IaaS basis.
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