Bandwidth (NASDAQ:BAND) Shares Gap Up to $65.83

Bandwidth Inc. (NASDAQ:BAND)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $65.83, but opened at $69.54. Bandwidth shares last traded at $71.60, with a volume of 1,474 shares changing hands.

A number of research firms recently commented on BAND. lowered their target price on shares of Bandwidth from $210.00 to $150.00 and set a “buy” rating for the company in a research note on Tuesday, November 9th. KeyCorp lowered their target price on shares of Bandwidth from $132.00 to $106.00 and set an “overweight” rating for the company in a research note on Friday. Morgan Stanley lowered their target price on shares of Bandwidth from $105.00 to $85.00 and set an “equal weight” rating for the company in a research note on Thursday, December 16th. Robert W. Baird lowered their target price on shares of Bandwidth from $180.00 to $140.00 and set an “outperform” rating for the company in a research note on Wednesday, October 27th. Finally, Piper Sandler raised shares of Bandwidth from a “neutral” rating to an “overweight” rating and set a $102.00 price target for the company in a research report on Wednesday. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $141.60.

The company has a market cap of $1.71 billion, a PE ratio of -43.01, a price-to-earnings-growth ratio of 86.81 and a beta of 0.46. The firm’s fifty day moving average is $71.50 and its 200 day moving average is $97.32. The company has a current ratio of 3.95, a quick ratio of 3.95 and a debt-to-equity ratio of 1.12.

Bandwidth (NASDAQ:BAND) last issued its quarterly earnings results on Monday, November 8th. The company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.08 by $0.17. The company had revenue of $130.64 million during the quarter, compared to analyst estimates of $126.08 million. Bandwidth had a negative net margin of 8.19% and a positive return on equity of 3.11%. The firm’s revenue was up 54.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.14 EPS. As a group, sell-side analysts anticipate that Bandwidth Inc. will post 0.18 EPS for the current fiscal year.

In other Bandwidth news, VP Gabriela Gonzalez sold 864 shares of Bandwidth stock in a transaction on Monday, January 3rd. The shares were sold at an average price of $72.66, for a total transaction of $62,778.24. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Lukas M. Roush sold 584 shares of Bandwidth stock in a transaction on Monday, November 22nd. The stock was sold at an average price of $67.74, for a total transaction of $39,560.16. The disclosure for this sale can be found here. In the last three months, insiders sold 2,025 shares of company stock valued at $145,820. 11.05% of the stock is owned by insiders.

Several hedge funds have recently made changes to their positions in BAND. First Horizon Advisors Inc. boosted its position in shares of Bandwidth by 772.0% during the 3rd quarter. First Horizon Advisors Inc. now owns 218 shares of the company’s stock valued at $26,000 after acquiring an additional 193 shares during the last quarter. Private Capital Group LLC boosted its position in shares of Bandwidth by 179.6% during the 3rd quarter. Private Capital Group LLC now owns 439 shares of the company’s stock valued at $40,000 after acquiring an additional 282 shares during the last quarter. Baillie Gifford & Co. boosted its position in shares of Bandwidth by 39.1% during the 3rd quarter. Baillie Gifford & Co. now owns 448 shares of the company’s stock valued at $41,000 after acquiring an additional 126 shares during the last quarter. FORA Capital LLC acquired a new position in shares of Bandwidth during the 2nd quarter valued at about $43,000. Finally, Baldwin Brothers LLC MA raised its holdings in Bandwidth by 50.0% in the 3rd quarter. Baldwin Brothers LLC MA now owns 750 shares of the company’s stock valued at $68,000 after buying an additional 250 shares during the period. 96.50% of the stock is currently owned by hedge funds and other institutional investors.

Bandwidth Company Profile (NASDAQ:BAND)

Bandwidth is a leading enterprise cloud communications company. Companies like Cisco, Google, Microsoft, RingCentral, Uber, and Zoom use Bandwidth’s APIs to easily embed voice, messaging, and emergency services into software and applications. Bandwidth is the first and only CPaaS provider offering a robust selection of communications APIs built around their own IP voice network.

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