Bandwidth price target raised to $27 from $20 at B. Riley

B. Riley analyst Erik Suppiger raised the firm’s price target on Bandwidth (BAND) to $27 from $20 and keeps a Buy rating on the shares. Advances in AI voice technology, including developments from Google Gemini and OpenAI, are expected to expand demand for AI-driven voice services and benefit Bandwidth’s communications platform business, the analyst tells investors in a research note. While the outlook for core cloud communications and earnings remains unchanged, the FY27 revenue estimate is reduced due to lower expected messaging surcharge pass-through revenue, which does not impact profitability, the firm says.