In a report released today, Michael Latimore from Northland Securities maintained a Buy rating on Pareteum Corp (TEUM), with a price target of $7.50. The company’s shares opened today at $4.06, close to its 52-week high of $4.11.
Latimore commented:
“We met with TEUM’s CEO, CEO of EMEA and head of sales at Barcelona this week. We believe customer activity is robust among MVNOs, enterprises and IoT providers. Cloud services and IoT were big themes at the show, and TEUM aligns perfectly with them. New credit facility provides additional flexibility for growth. Reiterating Outperform rating and $7.50 target.”
According to TipRanks.com, Latimore is a 5-star analyst with an average return of 16.4% and a 58.9% success rate. Latimore covers the Technology sector, focusing on stocks such as Everbridge Inc, Veritone Inc, and Orbcomm Inc.
Currently, the analyst consensus on Pareteum Corp is a Strong Buy with an average price target of $6.50.
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Based on Pareteum Corp’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $7.02 million. In comparison, last year the company had a GAAP net loss of $7.52 million.
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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.
