Equities research analysts at Maxim Group initiated coverage on shares of Pareteum (NYSEAMERICAN:TEUM) in a research report issued to clients and investors on Friday. The brokerage set a “buy” rating and a $7.00 price target on the technology company’s stock. Maxim Group’s price target would suggest a potential upside of 225.58% from the stock’s current price.
The analysts wrote, “SaaS, Cloud solutions for telecom services providers and connected devices with demand for mobile connectivity are driving 100%+ organic growth rates.””
Other research analysts also recently issued research reports about the company. Lake Street Capital reaffirmed a “buy” rating on shares of Pareteum in a research note on Tuesday, November 13th. TheStreet downgraded Pareteum from a “c-” rating to a “d+” rating in a research note on Monday, December 10th. Finally, Northland Securities began coverage on Pareteum in a report on Thursday, December 20th. They issued an “outperform” rating on the stock. Four investment analysts have rated the stock with a buy rating, Pareteum has an average rating of “Buy” and an average price target of $5.17.
Shares of NYSEAMERICAN TEUM opened at $2.15 on Friday. Pareteum has a 12 month low of $1.45 and a 12 month high of $3.59.
Pareteum (NYSEAMERICAN:TEUM) last issued its earnings results on Wednesday, November 7th. The technology company reported ($0.09) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($0.05). The business had revenue of $8.01 million during the quarter, compared to analysts’ expectations of $8.00 million.
A number of hedge funds have recently made changes to their positions in the stock. Ahrens Investment Partners LLC bought a new position in shares of Pareteum during the 3rd quarter worth approximately $107,000. Bank of New York Mellon Corp lifted its holdings in shares of Pareteum by 142.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 48,705 shares of the technology company’s stock worth $146,000 after purchasing an additional 28,584 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Pareteum by 46.5% in the 2nd quarter. Northern Trust Corp now owns 108,302 shares of the technology company’s stock worth $271,000 after purchasing an additional 34,358 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Pareteum by 50,516.7% in the 2nd quarter. BlackRock Inc. now owns 791,139 shares of the technology company’s stock worth $1,978,000 after purchasing an additional 789,576 shares in the last quarter. Finally, Perkins Capital Management Inc. lifted its holdings in shares of Pareteum by 23.2% in the 3rd quarter. Perkins Capital Management Inc. now owns 1,008,729 shares of the technology company’s stock worth $3,026,000 after purchasing an additional 190,000 shares in the last quarter.
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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