KeyCorp Reaffirms “Buy” Rating for Bandwidth (BAND)

KeyCorp reiterated their buy rating on shares of Bandwidth (NASDAQ:BAND) in a research note published on Thursday morning. The brokerage currently has a $29.00 price target on the stock.

“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.”,” KeyCorp’s analyst commented.

Several other research analysts have also issued reports on BAND. JMP Securities initiated coverage on shares of Bandwidth in a research note on Tuesday, December 5th. They set an outperform rating and a $36.00 target price on the stock. Canaccord Genuity initiated coverage on shares of Bandwidth in a research note on Tuesday, December 5th. They set a buy rating and a $28.00 target price on the stock. Robert W. Baird initiated coverage on shares of Bandwidth in a research note on Tuesday, December 5th. They set an outperform rating and a $28.00 target price on the stock. Finally, Morgan Stanley initiated coverage on shares of Bandwidth in a research note on Tuesday, December 5th. They set an overweight rating and a $28.00 target price on the stock. Five research analysts have rated the stock with a buy rating, Bandwidth has a consensus rating of Buy and a consensus price target of $29.80.

Bandwidth (NASDAQ:BAND) traded down $0.63 during trading hours on Thursday, hitting $21.49. 266,000 shares of the stock were exchanged, compared to its average volume of 174,783. Bandwidth has a 12 month low of $18.05 and a 12 month high of $24.99.

In other Bandwidth news, major shareholder James A. Bowen sold 158,526 shares of the firm’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 document filed with the SEC, which is available through the SEC website.

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About Bandwidth

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.

Analyst Recommendations for Bandwidth (NASDAQ:BAND)

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