Bandwidth (NASDAQ:BAND) Stock Price Expected to Rise, Robert W. Baird Analyst Says

Bandwidth (NASDAQ:BAND) had its target price increased by Robert W. Baird from $19.00 to $22.00 in a research report released on Friday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

BAND has been the topic of a number of other research reports. Needham & Company LLC reissued a “hold” rating on shares of Bandwidth in a report on Friday. JMP Securities reissued a “market outperform” rating and set a $36.00 price objective on shares of Bandwidth in a report on Tuesday, August 27th. Finally, Barclays lowered their price objective on Bandwidth from $28.00 to $25.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $28.33.

Bandwidth Stock Down 0.6 %

Shares of Bandwidth stock opened at $18.59 on Friday. The stock has a 50-day moving average price of $17.52 and a 200 day moving average price of $18.30. The company has a market cap of $507.51 million, a P/E ratio of -19.99 and a beta of 1.50. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.91. Bandwidth has a 1 year low of $10.60 and a 1 year high of $25.02.

Bandwidth (NASDAQ:BAND) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.11. Bandwidth had a negative return on equity of 0.91% and a negative net margin of 2.23%. The company had revenue of $193.90 million during the quarter, compared to the consensus estimate of $182.05 million. During the same period last year, the business earned $0.03 EPS. The business’s quarterly revenue was up 27.6% on a year-over-year basis. As a group, analysts expect that Bandwidth will post 0.11 EPS for the current fiscal year.

Insider Transactions at Bandwidth

In other news, CFO Daryl Raiford sold 4,350 shares of Bandwidth stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $16.97, for a total transaction of $73,819.50. Following the sale, the chief financial officer now owns 71,546 shares of the company’s stock, valued at approximately $1,214,135.62. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders have sold 8,525 shares of company stock valued at $146,548. 6.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Bandwidth

Several hedge funds and other institutional investors have recently modified their holdings of BAND. Point72 Asset Management L.P. lifted its position in shares of Bandwidth by 411.1% during the 2nd quarter. Point72 Asset Management L.P. now owns 597,933 shares of the company’s stock worth $10,093,000 after buying an additional 480,933 shares during the period. Acadian Asset Management LLC raised its position in Bandwidth by 79.8% in the 2nd quarter. Acadian Asset Management LLC now owns 613,612 shares of the company’s stock valued at $10,353,000 after purchasing an additional 272,309 shares during the last quarter. Assenagon Asset Management S.A. raised its position in Bandwidth by 185.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 341,921 shares of the company’s stock valued at $5,987,000 after purchasing an additional 222,142 shares during the last quarter. Squarepoint Ops LLC bought a new position in Bandwidth in the 2nd quarter valued at $1,113,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in Bandwidth in the 1st quarter valued at $1,143,000. Institutional investors own 68.53% of the company’s stock.

About Bandwidth

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.