Insider Selling: Tangoe VP Sells 3,270 Shares of Stock (TNGO)
Tangoe (NASDAQ:TNGO) VP Scott Snyder sold 3,270 shares of the company’s stock on the open market in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $23.03, for a total transaction of $75,308.10. Following the completion of the sale, the vice president now directly owns 10,000 shares in the company. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
A number of analysts have recently weighed in on TNGO shares. Analysts at Barclays Capital raised their price target on shares of Tangoe (NASDAQ:TNGO) from $23.00 to $25.00 in a research note to investors on Friday, August 9th. Separately, analysts at Stifel Nicolaus raised their price target on shares of Tangoe (NASDAQ:TNGO) from $20.00 to $22.00 in a research note to investors on Thursday, August 8th. They now have a “buy” rating on the stock. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of Tangoe (NASDAQ:TNGO) in a research note to investors on Thursday, August 8th. They now have a $28.00 price target on the stock.
One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $23.00.
Shares of Tangoe (NASDAQ:TNGO) traded down 0.38% on Wednesday, hitting $23.52. The stock had a trading volume of 479,120 shares. Tangoe has a 1-year low of $11.53 and a 1-year high of $23.72. The stock has a 50-day moving average of $20.06 and a 200-day moving average of $15.58. The company has a market cap of $882.9 million and a price-to-earnings ratio of 216.61.
Tangoe (NASDAQ:TNGO) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.16 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.16. The company had revenue of $46.40 million for the quarter, compared to the consensus estimate of $45.90 million. During the same quarter last year, the company posted $0.10 earnings per share. Tangoe’s revenue was up 28.0% compared to the same quarter last year. On average, analysts predict that Tangoe will post $0.69 earnings per share for the current fiscal year.
Tangoe, Inc (NASDAQ:TNGO) is a global provider of communications lifecycle management (CLM), software and services to a range of enterprises, including large and medium-sized businesses and other organizations.
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