This Cloud Stock Is a Bargain Despite Increasing Sales by 54% Last Quarter
Bandwidth (NASDAQ: BAND) delivered better-than-expected numbers when it released its third-quarter earnings report on Nov. 8, crushing Wall Street's estimates by a comfortable margin thanks to the growth in its customer base and an increase in spending by existing customers.
Share prices for the cloud communications platform-as-a-service (CPaaS) provider have severely underperformed the market so far in 2021, crashing 48% -- but it looks like a turnaround may be in the cards, as investors cheered the latest report. Bandwidth's stock price jumped nearly 3% after earnings, and it wouldn't be surprising to see them head higher and close the year strongly. Let's look at Bandwidth's Q3 numbers and check why it remains a solid bet on the fast-growing cloud communications market.
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Source Fool.com
