Tangoe VP Sells $172,125 in Stock (TNGO)
Tangoe (NASDAQ:TNGO) VP Christopher Mezzatesta sold 7,500 shares of Tangoe stock on the open market in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $22.95, for a total transaction of $172,125.00. Following the transaction, the vice president now directly owns 10,000 shares of the company’s stock, valued at approximately $229,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Tangoe (NASDAQ:TNGO) traded down 2.30% during mid-day trading on Thursday, hitting $19.10. The stock had a trading volume of 2,000,637 shares. Tangoe has a 1-year low of $11.53 and a 1-year high of $23.72. The stock’s 50-day moving average is $23.63 and its 200-day moving average is $18.00. The company has a market cap of $717.0 million and a price-to-earnings ratio of 179.36.
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 in the prior year, the company posted $0.10 earnings per share. The company’s quarterly revenue was up 28.0% on a year-over-year basis. On average, analysts predict that Tangoe will post $0.69 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on TNGO shares. Analysts at Barclays raised their price target on shares of Tangoe 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 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 in a research note to investors on Thursday, August 8th. They now have a $28.00 price target on the stock. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $23.00.
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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