Pareteum Corp (TEUM) Gets a Buy Rating from Maxim Group

By Carrie Williams

In a report released yesterday, Allen Klee from Maxim Group maintained a Buy rating on Pareteum Corp (TEUMResearch Report), with a price target of $9. The company’s shares closed yesterday at $2.64.

Klee noted:

“Management preannounced 2Q19 results that will exceed consensus estimates for revenue of $26.2M and adjusted EBITDA of $4.1M.”

According to TipRanks.com, Klee is ranked 0 out of 5 stars with an average return of -16.7% and a 27.7% success rate. Klee covers the Technology sector, focusing on stocks such as Dolphin Entertainment Inc, Sify Technologies Limited, and ATN International Inc.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Pareteum Corp with a $8 average price target, a 203.0% upside from current levels. In a report issued on June 27, Lake Street also maintained a Buy rating on the stock with a $6.50 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 5.12M.

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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.