Maxim Group reaffirmed their buy rating on shares of Pareteum (NYSEAMERICAN:TEUM) in a research note issued to investors on Wednesday, AnalystRatings.com reports. Maxim Group currently has a $9.00 price objective on the technology company’s stock.
“We believe a short report on TEUM issued on Friday drew inaccurate conclusions based on cherry picking some announced customers and highlighting prior challenges.”,” Maxim Group’s analyst wrote.
TEUM has been the topic of a number of other research reports. Zacks Investment Research downgraded shares of Pareteum from a hold rating to a sell rating in a research report on Friday, February 22nd. Northland Securities restated a buy rating and issued a $7.50 price target on shares of Pareteum in a research report on Friday, March 1st. Oppenheimer initiated coverage on shares of Pareteum in a research report on Friday, April 26th. They issued an outperform rating and a $7.00 price target on the stock. CIBC initiated coverage on shares of Pareteum in a research report on Friday, April 26th. They issued an outperform rating and a $7.00 price target on the stock. Finally, Lake Street Capital set a $7.00 price target on shares of Pareteum and gave the stock a buy rating in a research report on Monday. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of Buy and a consensus price target of $7.70.
NYSEAMERICAN:TEUM opened at $2.89 on Wednesday. Pareteum has a one year low of $1.45 and a one year high of $5.93.
Pareteum (NYSEAMERICAN:TEUM) last posted its earnings results on Tuesday, May 7th. The technology company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.03) by $0.02. The business had revenue of $23.04 million for the quarter, compared to analyst estimates of $20.90 million.
Several institutional investors have recently added to or reduced their stakes in TEUM. Thoroughbred Financial Services LLC acquired a new position in shares of Pareteum during the 4th quarter valued at $40,000. One Wealth Advisors LLC acquired a new position in shares of Pareteum during the 1st quarter valued at $41,000. Raymond James Financial Services Advisors Inc. acquired a new position in shares of Pareteum during the 1st quarter valued at $63,000. Jefferies Group LLC acquired a new position in shares of Pareteum during the 1st quarter valued at $65,000. Finally, Ahrens Investment Partners LLC acquired a new position in shares of Pareteum during the 1st quarter valued at $67,000.
Pareteum Company Profile
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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