Pareteum (TEUM) Lifted to “Hold” at Zacks Investment Research
Zacks Investment Research upgraded shares of Pareteum (NYSEAMERICAN:TEUM) from a sell rating to a hold rating in a research report report published on Thursday.
According to Zacks, “Pareteum Corporation is a provider of mobile software defined network architecture platforms for the telecommunications industry. The company empowers Mobile Network Operators, Virtual Operators, Enablers and Aggregators with a full suite of applications, superior industry expertise and high quality customer service. Pareteum Corporation, formerly known as Elephant Talk Communications Corp., is based in New York. “
Several other brokerages have also recently commented on TEUM. TheStreet cut shares of Pareteum from a c- rating to a d+ rating in a research note on Monday, December 10th. Northland Securities began coverage on shares of Pareteum in a research note on Thursday, December 20th. They issued an outperform rating on the stock. Craig Hallum began coverage on shares of Pareteum in a research note on Monday, January 28th. They issued a buy rating on the stock. Finally, Maxim Group began coverage on shares of Pareteum in a research note on Friday, January 11th. They issued a buy rating and a $7.00 price target on the stock. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus target price of $5.75.
Pareteum (NYSEAMERICAN:TEUM) last released its earnings results on Tuesday, March 12th. The technology company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.03. The firm had revenue of $14.31 million for the quarter, compared to analysts’ expectations of $13.40 million.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Northern Trust Corp raised its position in shares of Pareteum by 46.5% during the 2nd quarter. Northern Trust Corp now owns 108,302 shares of the technology company’s stock valued at $271,000 after buying an additional 34,358 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Pareteum by 80.6% during the 3rd quarter. Vanguard Group Inc. now owns 2,232,888 shares of the technology company’s stock valued at $6,698,000 after buying an additional 996,618 shares in the last quarter. Vanguard Group Inc raised its position in shares of Pareteum by 80.6% during the 3rd quarter. Vanguard Group Inc now owns 2,232,888 shares of the technology company’s stock valued at $6,698,000 after buying an additional 996,618 shares in the last quarter. Ahrens Investment Partners LLC purchased a new stake in shares of Pareteum during the 3rd quarter valued at about $107,000. Finally, BlackRock Inc. raised its position in shares of Pareteum by 4.8% during the 3rd quarter. BlackRock Inc. now owns 828,925 shares of the technology company’s stock valued at $2,487,000 after buying an additional 37,786 shares in the last quarter.
Pareteum Corporation operates a communications cloud services platform in Europe and internationally. Its platform provides mobility, messaging, and security services and applications, with a single-sign-on, application program interface (API), and software development suite. The company's platform hosts integrated IT/back office and core network functionality for mobile network operators, as well as for enterprises to implement and leverage mobile communications solutions on a SaaS, PaaS, or IaaS basis.
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