Bandwidth price target lowered to $14 from $18 at Piper Sandler

Piper Sandler analyst James Fish lowered the firm’s price target on Bandwidth to $14 from $18 and keeps a Neutral rating on the shares. The company reported results slightly above estimates, as messaging continues to post upside despite a slightly more challenging macro environment, the analyst tells investors in a research note. However, the firm believes bears of the stock will likely remain skeptical around the medium-targets and margins.