Why Bandwidth Stock Rebounded Over 6% Today

Shares of communications software outfit Bandwidth (NASDAQ: BAND) were up 6.4% today as of 12:55 p.m. ET. It's some reprieve for shareholders after the stock lost half its value in 2021. Bandwidth remains about two-thirds of the value it was at its all-time peak in late 2020, when cloud-based communications companies were flying high early on in the pandemic.

There was no specific news from Bandwidth today to cause the jump in price. However, the company is still forecasting robust growth for its software offerings, even though its stock endured a brutal 2021. Management has said to expect year-over-year revenue growth of as much as 7% in the fourth quarter of 2021, and as much as 42% for full-year 2021. Bandwidth should be releasing its final results in late February.

Image source: Getty Images.

Source Fool.com