Citizens raised its price target on Bandwidth Inc. (NASDAQ:BAND) shares to $70 from $45 while maintaining a Market Outperform rating. The stock currently trades at $52.10, near its 52-week high of $53.21, following a remarkable 257% gain over the past year.
The firm cited Bandwidth's ownership of its underlying network, which enables ultra-low latency, carrier grade reliability, and deep regulatory control that helps voice AI agents succeed in production.
Citizens pointed to Salesforce selecting Bandwidth to power voice and messaging in the new Agentforce Contact Center platform as evidence of the network's increasing value.
The analyst noted Bandwidth's usage-based model should drive 18% growth this year, with 13.9% adjusted EBITDA margins and 16% free cash flow margins on cloud communications revenue. The company also benefits every other year from political campaign messaging activity.
Citizens highlighted the leadership team including founder and CEO David Morkin, CFO Daryl Raiford, CPO John Bell, and COO Devesh Agarwal.
