Neutral Tandem Trading Up 15.9% on Earnings Beat (TNDM)
Neutral Tandem (NASDAQ:TNDM)’s share price was up 15.9% during trading on Friday after the company announced better than expected quarterly earnings, Analyst Ratings News reports. The company traded as high as $15.52 and last traded at $14.47, with a volume of 370,801 shares changing hands. The stock had previously closed at $12.49.
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.
A number of research firms have recently commented on TNDM. 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. Analysts at Deutsche Bank upgraded shares of Neutral Tandem from a “hold” rating to a “buy” rating in a research note on Wednesday, May 14th. They now have a $25.00 price target on the stock, down previously from $28.00. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Neutral Tandem currently has a consensus rating of “Buy” and an average target price of $22.00.
The stock has a 50-day moving average of $15.01 and a 200-day moving average of $19.71. The company’s market cap is $331.6 million.
Neutral Tandem, Inc provides tandem interconnection services principally to competitive carriers, including wireless, wireline, cable and broadband telephony companies.
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