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11/13 Pareteum, iPass analyst commentary at Lake Street  Pareteum price target raised to $6 from $5 at Lake Street. Lake Street analyst Eric Martinuzzi maintained a Buy rating on Pareteum Corporation (TEUM) and raised his price target to $ 6 from $5 as a result of the company's acquisition of iPass (IPAS), which he feels will change Pareteum's revenue and profit profile "for the better." Martinuzzi added that the bigger takeaway of the acquisition is Pareteum's commitment to the last mile.

Breaking News: TEUM latest news. - The Fly

12/20 Pareteum initiated at Northland  Pareteum initiated with an Outperform at Northland. Northland analyst Michael Latimore initiated Pareteum with an Outperform rating and $7.50 price target, stating that mobile virtual network operators, or MVNOs, are increasingly looking to SaaS platforms, such as from Pareteum, to replace on-premises software. He believes 90% of the addressable market is still served by legacy on-premises software today, Latimore noted, adding that the company's "highly experienced management team" has orchestrated a material turnaround.

Breaking News: TEUM latest news. - The Fly

01/11 Pareteum initiated at Maxim  Pareteum initiated with a Buy at Maxim. Maxim analyst Allen Klee initiated Parateum with a Buy rating and a price target of $7, citing the company's position as a "one-stop shop" for outsourced "cloud" solutions for telecom service companies and enterprises. With more expected connected devices through Internet of Things technology, the analyst expects the demand for Parateum's products to remain strong. Klee is also positive on the company's efforts to clean up its balance sheet and implement a lower cost structure.

Breaking News: TEUM latest news. - The Fly

And, another one, with an interesting little tid-bit considering the fact that they have $500M+ in 3-year backlog contracts (and that was three months ago) and they'll get their hands on iPass with a whole new batch of engineers to speed up that backlog conversion..

01/28 Pareteum initiated at Craig-Hallum  Pareteum initiated with a Buy at Craig-Hallum. Craig-Hallum analyst George Sutton started Pareteum with a Buy rating and $5 price target, stating that the telco industry is looking for ways to add new digital services and incumbents have a structural disadvantage, which he believes opens the door for Pareteum's cloud-based offerings. He believes the growth trajectory of Pareteum is "drastically mispriced," noting that the company has historically converted greater than 100% of backlog to revenue.

Breaking News: TEUM latest news. - The Fly

From today, Feb 13 2019:

Northland raises Pareteum estimates after iPass closing, maintains as a Top Pick. Northland analyst Michael Latimore raised his FY19 and FY20 revenue and EBITDA estimates for Pareteum after the company announced that it closed the acquisition of iPass, adding that the company has an "aggressive" cost reduction plan that should be complete by the end of Q3. Separately, he said he believes Pareteum had a strong Q4 and is up to at least 85 customers from just 4 customers a year and a half ago. Latimore, who said the stock remains one of his Top Picks for 2019, keeps an Outperform rating and $7.50 price target on Pareteum shares.

Breaking News: TEUM latest news. - The Fly

Pareteum backlog announcement increases Northland confidence in estimates. After Pareteum announced continued increases in its 3-year backlog yesterday, Northland analyst Michael Latimore said the company's announcement gives him more confidence in his estimates. The analyst, who noted that the recently complete iPass acquisition gives Pareteum 100 more people to help deploy backlog, keeps an Outperform rating and $7.50 price target on the stock.

Breaking News: TEUM latest news. - The Fly

Pareteum 'undervalued' following January wins, says Northland. Northland analyst Michael Latimore notes that Pareteum announced on Friday 12 wins in the month of January. The analyst likes that the company is winning more U.S.-based customers, and argues that the wins and associated increase in backlog give him more confidence in his estimates. Overall, Latimore believes Pareteum is undervalued, trading at only 3.76 times his FY19 revenue estimates and 2.93 times FY20. He reiterates an Outperform rating and $7.50 price target on the shares.

Breaking News: TEUM latest news. - The Fly

[quote='admin' pid='82741' dateline='1550675470']

Pareteum backlog announcement increases Northland confidence in estimates. After Pareteum announced continued increases in its 3-year backlog yesterday, Northland analyst Michael Latimore said the company's announcement gives him more confidence in his estimates. The analyst, who noted that the recently complete iPass acquisition gives Pareteum 100 more people to help deploy backlog, keeps an Outperform rating and $7.50 price target on the stock.

Breaking News: TEUM latest news. - The Fly

Pareteum 'undervalued' following January wins, says Northland. Northland analyst Michael Latimore notes that Pareteum announced on Friday 12 wins in the month of January. The analyst likes that the company is winning more U.S.-based customers, and argues that the wins and associated increase in backlog give him more confidence in his estimates. Overall, Latimore believes Pareteum is undervalued, trading at only 3.76 times his FY19 revenue estimates and 2.93 times FY20. He reiterates an Outperform rating and $7.50 price target on the shares.

Breaking News: TEUM latest news. - The Fly

Here is Maxim rept

[quote='admin' pid='82741' dateline='1550675470']

Pareteum backlog announcement increases Northland confidence in estimates. After Pareteum announced continued increases in its 3-year backlog yesterday, Northland analyst Michael Latimore said the company's announcement gives him more confidence in his estimates. The analyst, who noted that the recently complete iPass acquisition gives Pareteum 100 more people to help deploy backlog, keeps an Outperform rating and $7.50 price target on the stock.

Breaking News: TEUM latest news. - The Fly

Pareteum 'undervalued' following January wins, says Northland. Northland analyst Michael Latimore notes that Pareteum announced on Friday 12 wins in the month of January. The analyst likes that the company is winning more U.S.-based customers, and argues that the wins and associated increase in backlog give him more confidence in his estimates. Overall, Latimore believes Pareteum is undervalued, trading at only 3.76 times his FY19 revenue estimates and 2.93 times FY20. He reiterates an Outperform rating and $7.50 price target on the shares.

Breaking News: TEUM latest news. - The Fly

And here is the LakeStreet rept

Welcome aboard BAM60! We haven't seen this report, so it's very much appreciated, many thanks.

We couldn't agree more with the following, from the Lake Street report:

In the early innings of a completed turnaround, Pareteum seems to be overlooked by many investors. Pareteum transitioned from a low margin, people intensive business model to a high margin, scalable Communications Platform As A Service (CPAAS) company resulting in an attractive, unnoticed opportunity.

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But it is getting more noticed by the day!

Somewhat older (October last year), but a good introduction, DawsonJames report

Here are the main price targets from analyst houses:

  • Lake street (Nov 19 2018): $6
  • Taglich Brothers (Feb 2019): $7.50
  • Maxim (Jan 2019): $7
  • Dawson James (Oct 2018) $5

And here are the estimates for revenue, adjusted EBITDA and adjusted EPS:

2018 2019 2020 2021 2022
Teum Nov 18 144 202 266 322
- Adj EBITDA 40 57 78 107
- Adj EPS 0.38 0.54 0.73 1.01
Lake St Nov 18 31.6 80 160
- Adj EBITDA 4.6 14.4 27.5
- Adj EPS 0.02 0.07 0.12
Taglich Feb 19 31.3 113
- Adj EPS -0.10 0.15
Maxim Jan 19 31.6 108 174.2
- Adj EBITDA 6.18 22.65 41.53
- Adj EPS -0.02 0.06 0.14
DawsJames Oct 19 30.9 59.8 75.2
- EBITDA 2.5 11.4 21.7
- EPS -0.25 -0.27 -0.26
  • The first estimates comes from the company itself in its presentation for the iPass acquisition and could serve as a benchmark
  • Dawson James uses EBITDA and EPS estimates (GAAP numbers) rather than the adjusted (non-GAAP) ones.
  • Some reports (like Dawson James) clearly not included iPass 

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