Bandwidth CEO told JMP Securities ‘business is excellent’

JMP Securities analyst Patrick Walravens keeps an Outperform rating on Bandwidth with a $36 price target after hosting a meeting with management. CEO David Morken said, “Business is excellent… we have had a great first half. We are positioned for a solid second half,” the analyst tells investors in a research note. JMP continues to view Bandwidth as an attractive opportunity for long-term capital appreciation. The company offers a leading global cloud communications platform with coverage of 65-plus countries, addresses a large market opportunity, and its second half of 2024 guidance could prove conservatives, JMP contends.