Tangoe is The Best SaaS Stock In Our Universe, Says Roth Capital
In a research report issued today, Roth Capital analyst Richard Baldry reiterated a Buy rating on Tangoe (NASDAQ:TNGO) with a $25 price target.
Baldry commented: “With Concur Technologies poised to be acquired by SAP, we view Tangoe as the best software-as-a-service (SaaS) stock in our universe for investors to reallocate capital to. With similar corporate expense management businesses and large addressable markets, TNGO is profitable and poised to accelerate growth, and dominates its space as CNQR did, in our view. Given what we view as a highly attractive valuation on a severe pullback, we reiterate our Buy rating.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Richard Baldry has a total average return of 10.0% and a 72.2% success rate. Baldry has a -17.7% average return when recommending TNGO, and is ranked #916 out of 3304 analysts.