Equities researchers at Lake Street Capital started coverage on shares of Pareteum (NYSEAMERICAN:TEUM) in a research note issued to investors on Monday, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $5.00 price target on the technology company’s stock. Lake Street Capital’s price target would indicate a potential upside of 67.79% from the company’s current price.

Separately, Taglich Brothers assumed coverage on shares of Pareteum in a research note on Tuesday, May 29th. They issued a “buy” rating and a $3.50 price target for the company.

Shares of NYSEAMERICAN:TEUM opened at $2.98 on Monday. Pareteum has a twelve month low of $0.54 and a twelve month high of $3.59.

Pareteum (NYSEAMERICAN:TEUM) last issued its quarterly earnings results on Monday, August 6th. The technology company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.05. The company had revenue of $6.00 million during the quarter, compared to analyst estimates of $4.63 million.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Northern Trust Corp raised its holdings in shares of Pareteum by 46.5% in the 2nd quarter. Northern Trust Corp now owns 108,302 shares of the technology company’s stock worth $271,000 after purchasing an additional 34,358 shares in the last quarter. Bard Associates Inc. raised its holdings in shares of Pareteum by 39.3% during the second quarter. Bard Associates Inc. now owns 1,245,038 shares of the technology company’s stock valued at $3,113,000 after acquiring an additional 351,325 shares during the period. BlackRock Inc. raised its holdings in shares of Pareteum by 50,516.7% during the second quarter. BlackRock Inc. now owns 791,139 shares of the technology company’s stock valued at $1,978,000 after acquiring an additional 789,576 shares during the period. Perkins Capital Management Inc. raised its holdings in shares of Pareteum by 42.8% during the second quarter. Perkins Capital Management Inc. now owns 818,729 shares of the technology company’s stock valued at $2,047,000 after acquiring an additional 245,500 shares during the period. Finally, Commonwealth Equity Services LLC raised its holdings in shares of Pareteum by 157.2% during the second quarter. Commonwealth Equity Services LLC now owns 49,090 shares of the technology company’s stock valued at $123,000 after acquiring an additional 30,000 shares during the period.

About Pareteum

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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