Bandwidth (NASDAQ:BAND) Price Target Raised to $18.00

Bandwidth (NASDAQ:BAND) had its price target increased by Morgan Stanley from $17.00 to $18.00 in a research report report published on Wednesday morning,Benzinga reports. Morgan Stanley currently has an underweight rating on the stock.

BAND has been the topic of a number of other reports. Robert W. Baird increased their price target on shares of Bandwidth from $19.00 to $22.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. JMP Securities reiterated a “market outperform” rating and issued a $36.00 target price on shares of Bandwidth in a report on Tuesday, August 27th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Bandwidth in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $28.83.

Bandwidth Trading Up 0.8 %

BAND opened at $18.12 on Wednesday. Bandwidth has a fifty-two week low of $11.90 and a fifty-two week high of $25.02. The company has a market cap of $498.48 million, a price-to-earnings ratio of -19.48 and a beta of 1.51. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.29 and a quick ratio of 1.29. The firm has a 50 day simple moving average of $19.26 and a 200 day simple moving average of $18.19.

Bandwidth (NASDAQ:BAND) last issued its earnings results on Thursday, October 31st. The company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.32 by $0.11. Bandwidth had a negative net margin of 2.23% and a negative return on equity of 0.89%. The company had revenue of $193.90 million during the quarter, compared to analysts’ expectations of $182.05 million. During the same quarter in the previous year, the company posted $0.03 EPS. The business’s revenue for the quarter was up 27.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Bandwidth will post 0.08 earnings per share for the current year.

Insider Buying and Selling at Bandwidth

In related news, General Counsel Richard Brandon Asbill sold 5,561 shares of Bandwidth stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $21.26, for a total value of $118,226.86. Following the sale, the general counsel now owns 41,825 shares of the company’s stock, valued at approximately $889,199.50. This trade represents a 11.74 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Devin M. Krupka sold 3,658 shares of the business’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 value of $77,769.08. Following the completion of the sale, the insider now owns 11,097 shares in the company, valued at $235,922.22. The trade was a 24.79 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 44,733 shares of company stock valued at $948,310. 6.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Bandwidth

Hedge funds have recently made changes to their positions in the business. Innealta Capital LLC bought a new stake in shares of Bandwidth in the second quarter worth $30,000. nVerses Capital LLC increased its stake in Bandwidth by 80.0% in the 3rd quarter. nVerses Capital LLC now owns 1,800 shares of the company’s stock valued at $32,000 after buying an additional 800 shares during the last quarter. Quarry LP lifted its position in Bandwidth by 157.6% during the 3rd quarter. Quarry LP now owns 2,035 shares of the company’s stock worth $36,000 after buying an additional 1,245 shares in the last quarter. Redwood Wealth Management Group LLC acquired a new position in shares of Bandwidth during the 2nd quarter worth about $35,000. Finally, Daiwa Securities Group Inc. bought a new position in shares of Bandwidth in the 2nd quarter valued at about $57,000. 68.53% of the stock is owned by institutional investors.

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.