Tangoe Rating Lowered to Equal Weight at Barclays (TNGO)
Tangoe (NASDAQ:TNGO) was downgraded by equities researchers at Barclays from an “overweight” rating to an “equal weight” rating in a research report issued on Thursday. They currently have a $15.00 price target on the stock, down from their previous price target of $22.00. Barclays’ price objective points to a potential upside of 5.71% from the company’s current price.
Shares of Tangoe (NASDAQ:TNGO) opened at 13.77 on Thursday. Tangoe has a 52 week low of $11.33 and a 52 week high of $26.05. The stock’s 50-day moving average is $14.09 and its 200-day moving average is $15.62. The company has a market cap of $534.0 million and a price-to-earnings ratio of 225.40.
Tangoe (NASDAQ:TNGO) last released its earnings data on Wednesday, August 6th. The company reported $0.18 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.18. The company had revenue of $52.70 million for the quarter, compared to the consensus estimate of $52.90 million. During the same quarter last year, the company posted $0.16 earnings per share. Tangoe’s revenue was up 13.6% compared to the same quarter last year. On average, analysts predict that Tangoe will post $0.74 earnings per share for the current fiscal year.
TNGO has been the subject of a number of other recent research reports. Analysts at Raymond James reiterated a “strong-buy” rating on shares of Tangoe in a research note on Thursday, August 7th. They now have a $19.00 price target on the stock, down previously from $22.00. Separately, analysts at Stifel Nicolaus cut their price target on shares of Tangoe from $20.00 to $18.00 in a research note on Thursday, August 7th. They now have a “buy” rating on the stock. Finally, analysts at BMO Capital Markets reiterated an “outperform” rating on shares of Tangoe in a research note on Thursday, August 7th. They now have a $19.00 price target on the stock, down previously from $23.00. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $19.67.
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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