JMP Securities lowered the firm’s price target on Bandwidth to $32 from $55 and keeps an Outperform rating on the shares. The stock has dropped a disappointing 38% year to date versus a 7% increase in the Nasdaq largely due to Bandwidth’s guidance for just 1% top-line growth in 2023, the analyst tells investors in a research note.
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on BAND:
- Bandwidth Announces Additional Partial Repurchase of 0.25% Convertible Senior Notes Due 2026
- Bandwidth expands long relationship with Amazon Web Services
- Bandwidth price target raised to $19 from $17 at Citi
- Bandwidth price target lowered to $27 from $29 at KeyBanc
- Bandwidth price target lowered to $25 from $30 at Barclays