Bandwidth (NASDAQ:BAND) Shares Up 5.7%

Bandwidth Inc. (NASDAQ:BAND) shot up 5.7% during trading on Monday . The company traded as high as $20.41 and last traded at $20.36. 104,321 shares were traded during mid-day trading, a decline of 69% from the average session volume of 332,946 shares. The stock had previously closed at $19.26.

Analyst Ratings Changes

A number of research firms recently commented on BAND. Canaccord Genuity Group boosted their target price on shares of Bandwidth from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday. Barclays lifted their target price on shares of Bandwidth from $22.00 to $28.00 and gave the stock an “overweight” rating in a research report on Wednesday. Robert W. Baird lifted their target price on shares of Bandwidth from $21.00 to $25.00 and gave the stock a “neutral” rating in a research report on Wednesday. JMP Securities lifted their target price on shares of Bandwidth from $32.00 to $36.00 and gave the stock a “market outperform” rating in a research report on Wednesday. Finally, KeyCorp lifted their target price on shares of Bandwidth from $21.00 to $32.00 and gave the stock an “overweight” rating in a research report on Wednesday. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Bandwidth has an average rating of “Moderate Buy” and an average price target of $25.38.

Bandwidth Price Performance

The company has a quick ratio of 2.06, a current ratio of 2.06 and a debt-to-equity ratio of 1.41. The stock has a market capitalization of $555.61 million, a PE ratio of -20.14 and a beta of 1.44. The stock’s 50-day moving average is $18.64 and its 200 day moving average is $14.89.

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

Insider Transactions at Bandwidth

In other news, COO Anthony Bartolo sold 7,798 shares of the business’s stock in a transaction on Friday, March 22nd. The shares were 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 $1,433,793.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last three months, insiders sold 12,556 shares of company stock worth $239,567. 6.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Bandwidth

Several large investors have recently bought and sold shares of BAND. DekaBank Deutsche Girozentrale bought a new stake in Bandwidth in the 3rd quarter valued at $75,000. Headlands Technologies LLC grew its holdings in Bandwidth by 21.3% during the 3rd quarter. Headlands Technologies LLC now owns 9,315 shares of the company’s stock worth $105,000 after acquiring an additional 1,636 shares during the last quarter. Quest Partners LLC bought a new stake in Bandwidth during the 4th quarter worth about $145,000. Raymond James & Associates acquired a new position in Bandwidth during the 3rd quarter valued at about $115,000. Finally, BNP Paribas Financial Markets lifted its position in Bandwidth by 84.4% during the 1st quarter. BNP Paribas Financial Markets now owns 13,690 shares of the company’s stock valued at $250,000 after purchasing an additional 6,266 shares during the period. 68.53% of the stock is currently owned by institutional investors and hedge funds.

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.