After Canaccord Genuity and JMP Securities gave Bandwidth (NASDAQ: BAND) a Buy rating last month, the company received another Buy, this time from KeyBanc. Analyst Alex Kurtz maintained a Buy rating on Bandwidth today and set a price target of $91.00. The company’s shares closed last Monday at $83.22, close to its 52-week high of $90.63.
According to TipRanks.com, Kurtz is a 5-star analyst with an average return of 12.3% and a 65.3% success rate. Kurtz covers the Technology sector, focusing on stocks such as Zoom Video Communications, Sprout Social, and Atlassian.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Bandwidth with a $86.33 average price target, a -1.4% downside from current levels. In a report released today, JMP Securities also maintained a Buy rating on the stock with a $95.00 price target.
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Based on Bandwidth’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $1.01 million. In comparison, last year the company had a GAAP net loss of $1.29 million.
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Bandwidth, Inc. provides cloud-based 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.
