Pareteum (NYSEAMERICAN:TEUM) Posts Quarterly Earnings Results

Pareteum (NYSEAMERICAN:TEUM) posted its quarterly earnings results on Tuesday. The technology company reported $0.01 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.02, Morningstar.com reports. The company had revenue of $34.15 million for the quarter, compared to analyst estimates of $27.31 million. Pareteum updated its FY 2019 guidance to EPS.

Shares of TEUM stock traded down $0.47 on Wednesday, hitting $3.19. 6,725,629 shares of the company’s stock were exchanged, compared to its average volume of 3,861,005. Pareteum has a 12 month low of $1.45 and a 12 month high of $5.93.

TEUM has been the topic of a number of recent analyst reports. Northland Securities reissued a “buy” rating on shares of Pareteum in a report on Tuesday, June 18th. Lake Street Capital set a $7.00 target price on Pareteum and gave the stock a “buy” rating in a report on Monday, July 1st. Maxim Group reissued a “buy” rating and set a $9.00 target price on shares of Pareteum in a report on Friday, June 28th. CIBC initiated coverage on Pareteum in a report on Friday, April 26th. They set an “outperform” rating and a $7.00 target price on the stock. Finally, Zacks Investment Research raised Pareteum from a “sell” rating to a “hold” rating in a report on Wednesday, April 24th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $7.70.

Hedge funds have recently made changes to their positions in the stock. Marshall Wace North America L.P. acquired a new position in Pareteum in the 1st quarter worth about $5,849,000. EAM Global Investors LLC acquired a new position in Pareteum in the 1st quarter worth about $1,821,000. Perkins Capital Management Inc. increased its holdings in Pareteum by 38.8% in the 1st quarter. Perkins Capital Management Inc. now owns 1,345,407 shares of the technology company’s stock worth $6,122,000 after purchasing an additional 376,428 shares in the last quarter. Laurion Capital Management LP increased its holdings in Pareteum by 106.0% in the 1st quarter. Laurion Capital Management LP now owns 594,677 shares of the technology company’s stock worth $2,706,000 after purchasing an additional 305,977 shares in the last quarter. Finally, Timpani Capital Management LLC acquired a new position in Pareteum in the 1st quarter worth about $1,254,000.

Pareteum Company Profile

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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Earnings History for Pareteum (NYSEAMERICAN:TEUM)

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