Lake Street Capital set a $7.00 price objective on Pareteum (NYSEAMERICAN:TEUM) in a research report sent to investors on Monday, TipRanks reports. The brokerage currently has a buy rating on the technology company’s stock.
TEUM has been the subject of a number of other research reports. Zacks Investment Research raised shares of Pareteum from a sell rating to a hold rating in a research note on Wednesday, April 24th. Maxim Group reaffirmed a buy rating and issued a $7.00 price target on shares of Pareteum in a research note on Monday, March 4th. Northland Securities reaffirmed a buy rating and issued a $7.50 price target on shares of Pareteum in a research note on Friday, March 1st. Oppenheimer started coverage on shares of Pareteum in a research note on Friday, April 26th. They issued an outperform rating and a $7.00 price target for the company. Finally, CIBC started coverage on shares of Pareteum in a research note on Friday, April 26th. They issued an outperform rating and a $7.00 price target for the company. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Pareteum presently has an average rating of Buy and an average target price of $7.70.
Shares of NYSEAMERICAN TEUM opened at $2.89 on Monday. Pareteum has a twelve month low of $1.45 and a twelve month high of $5.93.
Pareteum (NYSEAMERICAN:TEUM) last announced its earnings results on Tuesday, May 7th. The technology company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.02. The firm had revenue of $23.04 million for the quarter, compared to the consensus estimate of $20.90 million.
Institutional investors and hedge funds have recently bought and sold shares of the business. Herald Investment Management Ltd bought a new stake in shares of Pareteum during the fourth quarter worth about $3,460,000. Marshall Wace North America L.P. bought a new stake in shares of Pareteum during the first quarter worth about $5,849,000. The Manufacturers Life Insurance Company bought a new stake in shares of Pareteum during the first quarter worth about $5,765,000. Vanguard Group Inc. increased its position in shares of Pareteum by 80.6% during the third quarter. Vanguard Group Inc. now owns 2,232,888 shares of the technology company’s stock worth $6,698,000 after acquiring an additional 996,618 shares in the last quarter. Finally, Goldman Sachs Group Inc. bought a new stake in shares of Pareteum during the first quarter worth about $2,739,000.
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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