Bandwidth (NASDAQ:BAND) PT Raised to $28.00

Bandwidth (NASDAQ:BAND) had its price objective boosted by Barclays from $22.00 to $28.00 in a research note issued to investors on Wednesday, Benzinga reports. Barclays currently has an overweight rating on the stock.

A number of other research firms have also commented on BAND. Robert W. Baird lifted their price objective on Bandwidth from $21.00 to $25.00 and gave the stock a neutral rating in a research note on Wednesday. Canaccord Genuity Group boosted their price target on shares of Bandwidth from $38.00 to $40.00 and gave the stock a buy rating in a research report on Wednesday. Finally, KeyCorp increased their price objective on shares of Bandwidth from $21.00 to $32.00 and gave the stock an overweight rating in a research report on Wednesday. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $25.38.

Bandwidth Trading Down 6.2 %

Shares of NASDAQ BAND opened at $21.15 on Wednesday. The firm has a 50 day moving average price of $18.64 and a two-hundred day moving average price of $14.89. The stock has a market cap of $555.61 million, a P/E ratio of -20.14 and a beta of 1.44. Bandwidth has a 52-week low of $9.34 and a 52-week high of $25.02. The company has a debt-to-equity ratio of 1.41, a quick ratio of 2.06 and a current ratio of 2.06.

Bandwidth (NASDAQ:BAND) last posted its quarterly earnings data on Wednesday, February 28th. The company reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.01). The company had revenue of $165.00 million during the quarter, compared to analyst estimates of $154.17 million. Bandwidth had a negative net margin of 2.72% and a negative return on equity of 3.10%. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.04 earnings per share. As a group, equities analysts forecast that Bandwidth will post 0.19 EPS for the current year.

Insider Buying and Selling at Bandwidth

In other news, COO Anthony Bartolo sold 7,798 shares of the firm’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $18.75, for a total value of $146,212.50. Following the completion of the sale, the chief operating officer now directly owns 76,469 shares in the company, valued at approximately $1,433,793.75. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Over the last ninety days, insiders sold 12,556 shares of company stock valued at $239,567. Corporate insiders own 6.20% of the company’s stock.

Institutional Investors Weigh In On Bandwidth

A number of hedge funds have recently added to or reduced their stakes in BAND. DekaBank Deutsche Girozentrale acquired a new position in shares of Bandwidth during the third quarter worth approximately $75,000. Headlands Technologies LLC increased its stake in Bandwidth by 21.3% during the 3rd quarter. Headlands Technologies LLC now owns 9,315 shares of the company’s stock valued at $105,000 after purchasing an additional 1,636 shares in the last quarter. Raymond James & Associates bought a new stake in Bandwidth during the 3rd quarter valued at $115,000. Quest Partners LLC acquired a new position in Bandwidth during the fourth quarter worth $145,000. Finally, Oak Harbor Wealth Partners LLC bought a new position in shares of Bandwidth in the fourth quarter valued at $224,000. Institutional investors and hedge funds own 68.53% of the company’s stock.

Bandwidth Company Profile

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.