Piper Sandler Reiterates Neutral Rating on Bandwidth Inc. (BAND)

Piper Sandler analyst James Fish reiterated a Neutral rating and $19.00 price target on Bandwidth Inc. (NASDAQ: BAND).

The analyst commented, "Earlier today Bandwidth hosted its Reverb 2024 user conference announcing new products, updated UI and integrations, and updating usage data in the underlying platform. Incremental announcements from the event include: 1) The new Universal Platform with standardized APIs; 2) Updated usage data including 9B minutes and 4B messages each month; 3) Coming integration with Zoom CCaaS, Kore.AI, Omilia, Webex and more; and 4) New products like the Bandwidth Registration Center, Number Reputation Management and Alternat Location Routing among others. The message from the event seems to be focused on expanding the core solution to more recurring, platform enhancing products that can help "smooth out" the lumpiness of the political traffic impact in even years. While we believe the Universal Platform, Maestro, and the product suite enhancements are steps in the right direction, we remain concerned with out-year expectations, and as such, reiterate our Neutral rating."

For an analyst ratings summary and ratings history on Bandwidth Inc. click here. For more ratings news on Bandwidth Inc. click here.

Shares of Bandwidth Inc. closed at $16.32 yesterday.

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