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

Bandwidth (NASDAQ:BAND)‘s stock had its “outperform” rating reissued by stock analysts at William Blair in a research note issued on Friday,RTT News reports.

BAND has been the topic of a number of other reports. Robert W. Baird boosted their price target on shares of Bandwidth from $19.00 to $22.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Needham & Company LLC reiterated a “hold” rating on shares of Bandwidth in a research note on Friday. Barclays dropped their price target on shares of Bandwidth from $25.00 to $22.00 and set an “overweight” rating on the stock in a research note on Friday. Finally, Morgan Stanley boosted their price target on shares of Bandwidth from $17.00 to $18.00 and gave the stock an “underweight” rating in a research note on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $28.33.

Bandwidth Trading Down 2.6 %

Shares of Bandwidth stock opened at $17.00 on Friday. Bandwidth has a 1 year low of $11.90 and a 1 year high of $25.02. 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 P/E ratio of -29.82 and a beta of 1.54. The company’s fifty day moving average is $17.44 and its two-hundred day moving average is $17.86.

Bandwidth (NASDAQ:BAND) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.36). The business had revenue of $209.97 million for the quarter, compared to analysts’ expectations of $203.68 million. Bandwidth had a positive return on equity of 0.53% and a negative net margin of 0.87%. During the same period in the previous year, the business posted $0.38 earnings per share. Analysts forecast that Bandwidth will post 0.22 earnings per share for the current year.

Insiders Place Their Bets

In other Bandwidth news, CFO Daryl Raiford sold 4,371 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $20.70, for a total value of $90,479.70. Following the sale, the chief financial officer now owns 93,451 shares of the company’s stock, valued at $1,934,435.70. This represents a 4.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David A. Morken sold 2,777 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $17.39, for a total transaction of $48,292.03. Following the transaction, the chief executive officer now directly owns 109,783 shares in the company, valued at $1,909,126.37. The trade was a 2.47 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 51,417 shares of company stock worth $1,063,184. 6.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Bandwidth

Institutional investors and hedge funds have recently modified their holdings of the company. Covestor Ltd purchased a new position in shares of Bandwidth during the fourth quarter valued at approximately $25,000. Quarry LP raised its stake in Bandwidth by 157.6% during the third quarter. Quarry LP now owns 2,035 shares of the company’s stock worth $36,000 after purchasing an additional 1,245 shares during the period. New Age Alpha Advisors LLC purchased a new position in Bandwidth during the fourth quarter worth approximately $50,000. SBI Securities Co. Ltd. purchased a new position in Bandwidth during the fourth quarter worth approximately $69,000. Finally, Meeder Asset Management Inc. purchased a new position in Bandwidth during the third quarter worth approximately $74,000. Hedge funds and other 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.