Bandwith shares are trading higher after the company reported better-than-expected Q2 financial results and issued Q3 and FY23 revenue guidance. Additionally, Morgan Stanley and Barclays raised their respective price targets on the stock.
Portfolio Pulse from Benzinga Newsdesk
Bandwidth Inc. reported better-than-expected Q2 financial results and issued Q3 and FY23 revenue guidance. Following this, Morgan Stanley and Barclays raised their price targets on the stock, leading to a rise in Bandwidth's share price.
August 04, 2023 | 2:05 pm
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Bandwidth's shares are trading higher after positive Q2 results and increased revenue guidance. The stock's price targets were also raised by Morgan Stanley and Barclays.
The better-than-expected Q2 results and positive revenue guidance for Q3 and FY23 indicate a strong financial performance by Bandwidth. This, coupled with the raised price targets by Morgan Stanley and Barclays, has led to an increase in the company's share price. Therefore, the short-term impact on the stock is likely to be positive.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100