Shares of Tangoe Inc (NASDAQ:TNGO) have earned an average recommendation of “Hold” from the six brokerages that are covering the company, Market Beat.com reports. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $10.30.
In other news, major shareholder Alexander R. Slusky purchased 2,684,576 shares of the business’s stock in a transaction dated Friday, November 13th. The shares were bought at an average cost of $7.16 per share, for a total transaction of $19,221,564.16. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Shares of Tangoe (NASDAQ:TNGO) traded down 2.86% on Monday, hitting $8.15. The stock had a trading volume of 26,057 shares. Tangoe has a one year low of $5.84 and a one year high of $14.92. The stock’s market capitalization is $321.35 million. The firm’s 50 day moving average is $8.14 and its 200-day moving average is $9.03.
Tangoe (NASDAQ:TNGO) last announced its quarterly earnings data on Thursday, November 5th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by $0.07. The company earned $56.60 million during the quarter, compared to analyst estimates of $58.51 million. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.18 earnings per share. Equities research analysts expect that Tangoe will post $0.34 earnings per share for the current fiscal year.
A number of research firms have issued reports on TNGO. Zacks Investment Research cut Tangoe from a “hold” rating to a “sell” rating in a research note on Wednesday, November 11th. Barclays reissued a “sell” rating and issued a $8.00 target price (down from $10.00) on shares of Tangoe in a research note on Monday, November 9th. Northland Securities decreased their target price on Tangoe from $9.00 to $8.00 and set a “market perform” rating for the company in a research note on Monday, November 9th. Roth Capital decreased their target price on Tangoe from $16.00 to $13.50 and set a “buy” rating for the company in a research note on Friday, November 6th. Finally, Deutsche Bank decreased their target price on Tangoe from $10.00 to $8.00 and set a “hold” rating for the company in a research note on Friday, November 6th.
Tangoe, Inc. (NASDAQ:TNGO) is a global provider of connection lifecycle management (CLM), software and services to a range of enterprises and service providers. CLM covers the entire spectrum of an enterprise’s connection-based assets and services, such as voice and data services, mobile devices and usage, cloud software, infrastructure and services, machine-to-machine connections, enterprise social and information technology connections, and encompasses the entire lifecycle of these assets and services, including planning and sourcing, procurement and provisioning, inventory and usage management, mobile device management (MDM), real-time telecommunications expense management (rTEM), invoice processing and payment, expense allocation and accounting, and asset decommissioning and disposal. The Company’s on-demand Matrix Solution Suite includes software components in categories, including asset management, expense management, usage management and analytics.