KeyBanc analyst Brent Bracelin maintained a Buy rating on Bandwidth Inc (NASDAQ: BAND) yesterday and set a price target of $64. The company’s shares closed on Friday at $45.56, close to its 52-week high of $45.82.
Bracelin commented:
“We have increasing confidence in the upside levers to cloud software API business models like AMZN, TWLO, BAND, and SEND. Thus, we are raising our estimates and increasing our price target on BAND to $64 from $45, rolling forward to CY20.”
According to TipRanks.com, Bracelin is a top 25 analyst with an average return of 26.0% and a 78.5% success rate. Bracelin covers the Technology sector, focusing on stocks such as Tyler Technologies, Salesforce.com, and Everbridge Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Bandwidth Inc with a $43.25 average price target.
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Bandwidth Inc’s market cap is currently $857.1M and has a P/E ratio of 54.20. The company has a Price to Book ratio of 8.45.
Based on the recent corporate insider activity of 33 insiders, corporate insider sentiment is negative on the stock.
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Bandwidth, Inc. provides business communications services. It offers data Internet, voice/voice over Internet protocol, messaging. managed network, and conferencing services. The firm serves the telecom needs of small and medium businesses. It operates through the following business segments: CPaaS and Other.
