Fly News Breaks for February 21, 2020
Feb 21, 2020 | 08:16 EDT
Needham analyst Richard Valera raised his price target on Bandwidth to $85 and kept his Buy rating after its Q4 earnings beat, noting that the company returned to its "beat and raise ways" after a quarter marred by longer than expected deployment cycles with some of its key customers. Based on Bandwidth's "conservative guidance stance, solid visibility, and strong new customer additions", Valera believes that the company can continue its beat-and-raise trend for the remainder of 2020.
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