UPDATE: Needham & Company Starts Bandwidth Inc. (BAND) at Buy

June 21, 2021 4:08 PM EDT
Get Alerts BAND Hot Sheet
Price: $129.71 +0.04%

Rating Summary:
    8 Buy, 3 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 18 | Down: 13 | New: 23
Trade Now! 
Join SI Premium – FREE

News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.
(Updated - June 21, 2021 4:20 PM EDT)

Needham & Company analyst Ryan Koontz initiates coverage on Bandwidth Inc. (NASDAQ: BAND) with a Buy rating and a price target of $155.00.

The analyst commented, "We initiate coverage of BAND with a Buy rating and a PT of $155. We see BAND as a global leader in the fast-growing CPaaS market, where it specializes in migrating voice services to the cloud (including UCaaS) from legacy telecom infrastructure and is a challenger in API-driven messaging. Despite an increasingly competitive and complex CPaaS landscape, we see BAND's innovation and scale in voice among global leaders as a sustainable advantage.

We view consensus revenue estimates as achievable and believe the easing of pandemic restrictions is unlikely to slow global CPaaS and UCaaS adoption. With the pull-back in high-growth valuations, we see BAND's current share price as an attractive entry point. Our Price Target of $155 is equivalent to an EV/Sales multiple of 7.8x our F22 estimate."

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 $131.85 yesterday.



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Analyst Comments, New Coverage

Related Entities

Needham & Company