Bandwidth (NASDAQ:BAND)‘s stock had its “buy” rating reiterated by stock analysts at KeyCorp in a research report issued to clients and investors on Thursday. They currently have a $29.00 price target on the stock. KeyCorp’s target price indicates a potential upside of 34.57% from the stock’s previous close.
The analysts wrote, “We continue to see upside to $29 based on: a favorable risk/reward at 2.1x FTM EV/S vs. the peer average of 4.1x; (2) strong secular tailwinds tied to embedded voice-calling capabilities; (3) accelerating CPaaS growth prospects, which could exceed 20% y/y in 2H18; (4) rising exposure to technology titans such as Google, Microsoft, and Cisco; and (5) a disciplined track record of profitable growth in the past. Key Investment Points Results: Results at the top end of pre-IPO guidance.””
BAND has been the subject of several other research reports. JMP Securities initiated coverage on shares of Bandwidth in a report on Tuesday, December 5th. They issued an “outperform” rating and a $36.00 price target for the company. Morgan Stanley initiated coverage on shares of Bandwidth in a research report on Tuesday, December 5th. They issued an “overweight” rating and a $28.00 price objective on the stock. Canaccord Genuity initiated coverage on shares of Bandwidth in a research report on Tuesday, December 5th. They issued a “buy” rating and a $28.00 price objective on the stock. Finally, Robert W. Baird initiated coverage on shares of Bandwidth in a research report on Tuesday, December 5th. They issued an “outperform” rating and a $28.00 price objective on the stock. Five equities research analysts have rated the stock with a buy rating, The stock has an average rating of “Buy” and an average price target of $29.80.
In related news, major shareholder James A. Bowen sold 158,526 shares of the business’s stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $18.60, for a total value of $2,948,583.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Bandwidth Company Profile
Bandwidth Inc, formerly Bandwidth.com, Inc, is a cloud-based communications platform-as-a-service provider (CPaaS) that enables enterprises to create, scale and operate voice or text communications services across any mobile application or connected device or enterprises. The Company has two operating and reportable segments, CPaaS and Other.
Receive News & Ratings for Bandwidth Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bandwidth and related companies with MarketBeat.com's FREE daily email newsletter.