In a report released today, Richard Davis from Canaccord Genuity maintained a Buy rating on Bandwidth Inc (NASDAQ: BAND), with a price target of $40. The company’s shares opened today at $34.59, close to its 52-week high of $35.89.
According to TipRanks.com, Davis is a top 25 analyst with an average return of 29.1% and a 76.3% success rate. Davis covers the Technology sector, focusing on stocks such as Altair Engineering Inc, Upland Software, and Microsoft Corp.
Currently, the analyst consensus on Bandwidth Inc is Strong Buy and the average price target is $38.40, representing an 11.0% upside.
In a report issued on April 24, Dougherty also maintained a Buy rating on the stock with a $40 price target.
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The company has a one-year high of $35.89 and a one-year low of $18.05. Currently, Bandwidth Inc has an average volume of 109K.
Based on the recent corporate insider activity of 6 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of BAND in relation to earlier this year.
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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.
