Neutral Tandem Rating Increased to Buy at Bank of America (TNDM)
Shares of Neutral Tandem (NASDAQ:TNDM) traded up 13.05% on Friday, hitting $14.12. 485,930 shares of the company’s stock traded hands. Neutral Tandem has a 52 week low of $12.358 and a 52 week high of $30.25. The stock’s 50-day moving average is $15.01 and its 200-day moving average is $19.71. The company’s market cap is $324.5 million.
Neutral Tandem (NASDAQ:TNDM) last posted its quarterly earnings results on Thursday, July 31st. The company reported ($0.83) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.91) by $0.08. The company had revenue of $10.26 million for the quarter, compared to the consensus estimate of $10.36 million. The company’s quarterly revenue was up 85.5% on a year-over-year basis. Analysts expect that Neutral Tandem will post $-3.50 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Deutsche Bank reiterated a “buy” rating on shares of Neutral Tandem in a research note on Friday. They now have a $25.00 price target on the stock. Separately, analysts at William Blair initiated coverage on shares of Neutral Tandem in a research note on Tuesday, July 15th. They set an “outperform” rating and a $2.00 price target on the stock. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $20.75.
Neutral Tandem, Inc provides tandem interconnection services principally to competitive carriers, including wireless, wireline, cable and broadband telephony companies.
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