Piper Sandler sees catalysts ahead for Bandwidth Inc; upgrades
13/01/2022 12:53
** Piper Sandler upgrades cloud-based communications
platform-as-a-service (CPaaS) provider BAND.O to "overweight"
from "neutral"
** Brokerage sees BAND benefiting from multiple
opportunities and use-cases, 2022 catalysts, messaging & audio
usage, non-audio API (application programming interface)
traction, and a stronger investment behind growth
** "While there may still be some more bumps over the next
few months related to world-normalization, high-growth multiple
resets, and return of large customers, we see a strong setup for
2022" - Piper Sandler
** Brokerage adds that BAND will benefit from continued
conversion to Unified communications as a service and Contact
Center as a Service seats, adoption of Enhanced-911 services,
and foray into new use-cases
** 11 of 13 brokerages rate the stock "buy" or higher, two
"hold"; their median PT is $120 - Refinitiv
** Company's shares fell ~53% last year
(Reporting by Subhadeep Chakravarty in Bengaluru)
((subhadeep.chakravarty@thomsonreuters.com))