Since coming public in late July, Tangoe (NASDAQ:TNGO) has been on fire, with its stock soaring more than 80% to above $22. Of course, just like anything red-hot, investors should take care before handling — there’s already some signs the momentum could taper off.
Tangoe is a developer of software called communications lifecycle management, or CLM. It helps with all the key aspects of a company’s communications assets like planning, sourcing, procurement, usage, accounting and device management.
Tangoe’s solution is cloud-based, which makes it easier to update the software and provide better analytics. But the main benefit is that it helps to substantially reduce costs, such as by dealing with billing errors, avoiding mobile overages and so on.
So far, business has been good. In the latest quarterly re