Maxim Group analyst Allen Klee initiated coverage with a Buy rating on Pareteum Corp (TEUM) today and set a price target of $7. The company’s shares closed yesterday at $2.15.
Klee commented:
“SaaS, Cloud solutions for telecom services providers and connected devices with demand for mobile connectivity are driving 100%+ organic growth rates.”
According to TipRanks.com, Klee has currently no stars on a ranking scale of 0-5 stars, with an average return of -12.8% and a 25.0% 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 Moderate Buy, with a price target consensus of $7.50.
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The company has a one-year high of $3.59 and a one-year low of $1.45. Currently, Pareteum Corp has an average volume of 928.1K.
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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.
