Needham Remains Bullish on Bandwidth Inc. (BAND)

Bandwidth Inc. (NASDAQ:BAND) is one of the best small cap tech stocks to buy according to hedge funds. Needham lifted the price target on Bandwidth Inc. (NASDAQ:BAND) to $60 from $45 on May 14, maintaining a Buy rating on the shares. The rating update came after the firm hosted the company at the 21st annual Needham Technology & Media Conference for a fireside chat with CEO David Morken and CFO Daryl Raiford. The firm stated that key topics of conversations included the considerable competitive advantage provided by the company’s owned network, Agentforce contact center opportunity, and how the second half of the year volumes can provide upside to current guidance, as well as how voice AI can drive outsized growth going forward.

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Bandwidth Inc. (NASDAQ:BAND) also received a rating update from Citizens on May 15, with the firm lifting the price target on the stock to $70 from $45. It maintained an Outperform rating on the shares, stating that the company’s management struck a highly positive tone on business trends.

Bandwidth Inc. (NASDAQ:BAND) provides cloud communications software services and is also involved in delivering experiences through text messaging, voice calling, and emergency services applications.

While we acknowledge the risk and potential of BAND as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than BAND and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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