Maxim Group analyst Allen Klee maintained a Buy rating on Pareteum Corp (TEUM) today and set a price target of $7. The company’s shares closed on Friday at $3.97, close to its 52-week high of $4.11.
Klee wrote:
“For 4Q18, we expect revenue of $13.5M, up 236% y/y and Adjusted EBITDA of $2.8M, almost triple y/y. Results include Artilium, which closed in October 2018.”
According to TipRanks.com, Klee has 0 stars on 0-5 star ranking scale with an average return of -6.1% and a 46.8% success rate. Klee covers the Technology sector, focusing on stocks such as Sify Technologies Limited, Dolphin Entertainment Inc, and Atlantic Tele-Network.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Pareteum Corp with a $6.50 average price target, a 63.7% upside from current levels. In a report issued on February 19, Northland Securities also reiterated a Buy rating on the stock with a $7.50 price target.
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The company has a one-year high of $4.11 and a one-year low of $1.45. Currently, Pareteum Corp has an average volume of 1.53M.
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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.
