Bandwidth (NASDAQ:BAND) Receives “Outperform” Rating from William Blair

William Blair reissued their outperform rating on shares of Bandwidth (NASDAQ:BAND) in a research report report published on Friday,RTT News reports.

A number of other research firms also recently issued reports on BAND. Barclays decreased their price objective on shares of Bandwidth from $25.00 to $22.00 and set an “overweight” rating for the company in a report on Friday. Needham & Company LLC restated a “hold” rating on shares of Bandwidth in a research note on Friday. Morgan Stanley upped their price objective on Bandwidth from $17.00 to $18.00 and gave the company an “underweight” rating in a research note on Wednesday, December 18th. Finally, Robert W. Baird increased their price objective on Bandwidth from $19.00 to $22.00 and gave the company a “neutral” rating in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Bandwidth has a consensus rating of “Moderate Buy” and an average target price of $28.33.

Bandwidth Trading Down 2.6 %

Shares of BAND stock opened at $17.00 on Friday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.29 and a current ratio of 1.29. The company has a market capitalization of $467.67 million, a price-to-earnings ratio of -18.28 and a beta of 1.54. Bandwidth has a 52-week low of $11.90 and a 52-week high of $25.02. The company has a 50-day simple moving average of $17.44 and a two-hundred day simple moving average of $17.84.

Bandwidth (NASDAQ:BAND) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.36). Bandwidth had a negative return on equity of 0.89% and a negative net margin of 2.23%. The business had revenue of $209.97 million during the quarter, compared to analysts’ expectations of $203.68 million. During the same period in the prior year, the firm posted $0.38 EPS. Research analysts anticipate that Bandwidth will post 0.08 EPS for the current fiscal year.

Insider Activity

In other news, CFO Daryl Raiford sold 4,371 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $20.70, for a total transaction of $90,479.70. Following the sale, the chief financial officer now directly owns 93,451 shares in the company, valued at $1,934,435.70. This represents a 4.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, General Counsel Richard Brandon Asbill sold 5,561 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $21.26, for a total transaction of $118,226.86. Following the completion of the transaction, the general counsel now owns 41,825 shares of the company’s stock, valued at $889,199.50. This trade represents a 11.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 51,417 shares of company stock valued at $1,063,184 over the last quarter. Company insiders own 6.20% of the company’s stock.

Institutional Trading of Bandwidth

A number of hedge funds and other institutional investors have recently bought and sold shares of BAND. Vanguard Group Inc. boosted its holdings in Bandwidth by 4.3% in the 4th quarter. Vanguard Group Inc. now owns 1,769,027 shares of the company’s stock valued at $30,109,000 after purchasing an additional 73,623 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Bandwidth by 9.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,249,120 shares of the company’s stock worth $21,260,000 after buying an additional 112,269 shares in the last quarter. State Street Corp boosted its stake in Bandwidth by 3.7% during the third quarter. State Street Corp now owns 655,768 shares of the company’s stock valued at $11,482,000 after buying an additional 23,352 shares during the period. Renaissance Technologies LLC grew its position in Bandwidth by 15.3% during the fourth quarter. Renaissance Technologies LLC now owns 651,300 shares of the company’s stock worth $11,085,000 after buying an additional 86,200 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in Bandwidth by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 570,910 shares of the company’s stock worth $9,720,000 after buying an additional 2,243 shares in the last quarter. Institutional investors 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.