Paltalk (PALT) Receives a Hold from Maxim Group

Maxim Group analyst Allen Klee maintained a Hold rating on Paltalk (PALTResearch Report) yesterday. The company’s shares closed yesterday at $1.46.

Klee covers the Technology sector, focusing on stocks such as Research Solutions, CareCloud, Inc., and Zedge. According to TipRanks, Klee has an average return of -25.8% and a 19.00% success rate on recommended stocks.

The analyst consensus on Paltalk is currently a Hold rating.

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Based on Paltalk’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $2.64 million and a GAAP net loss of $1.13 million. In comparison, last year the company earned a revenue of $3.42 million and had a net profit of $821.68 thousand

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PeerStream, Inc. engages in the development of communications software and solutions for video, voice & text applications and data transmission. It also develops proprietary PeerStream Protocol by using multi-layered encryption, blockchain technology to offer clients maximal data security and confidentiality over distributed or decentralized networks. Its products include Paltalk, Camfrog, Backchannel, FirstMet, 50more, Firetalk, Ribbit Live, The Grade, Tinychat, and Vumber. The company was founded by Clifford Lerner and Darrell Lerner on July 19, 2005 and is headquartered in New York, NY.

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