Maxim Group analyst Allen Klee reiterated a Buy rating on Pareteum Corp (TEUM) today and set a price target of $9. The company’s shares closed yesterday at $3.91, close to its 52-week high of $4.30.
Klee noted:
“4Q18 257% y/y, outperformed our expectations of $13.5M while adjusted EBITDA of $2.3M, up 4x y/y, missed our estimate of $2.8M.”
According to TipRanks.com, Klee is ranked 0 out of 5 stars with an average return of -7.2% and a 40.9% success rate. Klee covers the Technology sector, focusing on stocks such as Sify Technologies Limited, Dolphin Entertainment Inc, and Atlantic Tele-Network.
Pareteum Corp has an analyst consensus of Strong Buy, with a price target consensus of $7.17, representing an 83.4% upside. In a report issued on March 1, Northland Securities also maintained a Buy rating on the stock with a $7.50 price target.
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The company has a one-year high of $4.30 and a one-year low of $1.45. Currently, Pareteum Corp has an average volume of 1.8M.
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Pareteum Corp. engages in the provision of mobile networking software and services. It offers mobile proprietary Software Defined Network Architecture platforms for the telecommunications industry utilizing messaging and security capabilities for the Mobile Virtual Network Operators, Internet-of-Things markets, Mobile, and Enterprise markets.
