5 Small-Cap Stocks to Buy According to Billionaire Steve Cohen

2. Bandwidth Inc. (NASDAQ:BAND)

Number of Hedge Fund Holders: 26

Market Cap as of January 9: $1.6 billion

Cohen boosted his holdings in the North Carolina-based firm by 110% between June and September, raising the total number of shares held by Point72 Asset Management to 596,204, making the hedge fund Bandwidth Inc.’s (NASDAQ:BAND) largest shareholder.

Microsoft, Uber, Zoom, and Google are some of the network companies that leverage Bandwidth Inc’s (NASDAQ:BAND) application programming interfaces (APIs) to integrate communications into software and apps.

Bandwidth Inc’s (NASDAQ:BAND) revenue increased 54% to $130.6 million in the third quarter of 2021, up from $84.8 million the previous year. Bandwidth Inc. (NASDAQ:BAND) stated in its third-quarter results report that it had signed a new contract with a $16 billion Fortune 200 managed care provider.

On November 9, Needham analyst Ryan Koontz maintained a Buy rating on Bandwidth Inc. (NASDAQ:BAND) with a price target of $130.