In a report released today, Richard Valera from Needham maintained a Buy rating on Bandwidth (BAND), with a price target of $120.00. The company’s shares closed last Thursday at $107.27, close to its 52-week high of $119.98.
According to TipRanks.com, Valera is a 5-star analyst with an average return of 10.2% and a 62.5% success rate. Valera covers the Technology sector, focusing on stocks such as Zoom Video Communications, Trimble Navigation, and Altair Engineering.
Currently, the analyst consensus on Bandwidth is a Strong Buy with an average price target of $100.67, which is a -9.0% downside from current levels. In a report issued on May 11, William Blair also initiated coverage with a Buy rating on the stock.
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The company has a one-year high of $119.98 and a one-year low of $42.61. Currently, Bandwidth has an average volume of 481.3K.
Based on the recent corporate insider activity of 53 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of BAND in relation to earlier this year.
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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. The CPaaS segment includes software-powered communication platform such as, voice calling and messaging services. The Other Segment provides legacy services. The company was founded by Henry Kaestner and David Morken in 1999 and is headquartered in Raleigh, NC.
