After Northland Securities and Maxim Group gave Pareteum Corp (NASDAQ: TEUM) a Buy rating last month, the company received another Buy, this time from Oppenheimer. Analyst Timothy Horan initiated coverage with a Buy rating on Pareteum Corp today and set a price target of $7. The company’s shares opened today at $4.06.
Horan observed:
“Pareteum has a software solution for enabling MVNOs, IOT and applications on one network/cloud. It offers operating support, billing systems and now intelligent network routing/transport. This has been attempted for the past 20 years with little success, but TEUM has made it possible by leveraging new technologies (smart/dual SIMs, cloud, LTE-Pro, improved WiFi and connector technologies, 5G), filling demand from dozens of new devices/applications for wireless connectivity, and using a partnership approach with MNOs. This is a B2B SaaS/Cloud company like Alibaba enablign the same OTT concept as Lyft/Airbnb/NFLX, the neutral IP transport platforms of EQIX/ AWS/CCOI on long-haul and GTT’s SDWAN for last mile, but with a full-service SaaS. This is a large $40B TAM, with rapid growth and high barriers to entry.”
According to TipRanks.com, Horan is a top 100 analyst with an average return of 17.1% and a 77.3% success rate. Horan covers the Technology sector, focusing on stocks such as Interxion Holding NV, Boingo Wireless Inc, and Zayo Group Holdings.
Currently, the analyst consensus on Pareteum Corp is a Strong Buy with an average price target of $7.88, a 94.1% upside from current levels. In a report issued on April 12, Northland Securities also assigned a Buy rating to the stock with a $7.50 price target.
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The company has a one-year high of $5.93 and a one-year low of $1.45. Currently, Pareteum Corp has an average volume of 3.59M.
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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.
