Bandwidth (NASDAQ:BAND) Shares Gap Up – What’s Next?

Bandwidth Inc. (NASDAQ:BAND) shares gapped up before the market opened on Thursday . The stock had previously closed at $18.84, but opened at $22.88. Bandwidth shares last traded at $21.63, with a volume of 176,031 shares trading hands.

Wall Street Analysts Forecast Growth

Several research firms recently commented on BAND. Barclays reduced their price target on shares of Bandwidth from $28.00 to $25.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. JMP Securities reaffirmed a “market outperform” rating and set a $36.00 price target on shares of Bandwidth in a research note on Tuesday, August 27th. Robert W. Baird boosted their price target on Bandwidth from $19.00 to $22.00 and gave the company a “neutral” rating in a report on Friday. Finally, Needham & Company LLC restated a “hold” rating on shares of Bandwidth in a report on Friday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $26.14.

Bandwidth Stock Performance

The company has a debt-to-equity ratio of 0.91, a current ratio of 1.16 and a quick ratio of 1.16. The company has a market cap of $510.47 million, a PE ratio of -20.11 and a beta of 1.51. The business has a fifty day simple moving average of $17.47 and a two-hundred day simple moving average of $18.27.

Bandwidth (NASDAQ:BAND) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.01. The firm had revenue of $174.00 million during the quarter, compared to analysts’ expectations of $173.18 million. Bandwidth had a negative return on equity of 1.89% and a negative net margin of 3.21%. The firm’s quarterly revenue was up 19.2% on a year-over-year basis. During the same period in the prior year, the business posted ($0.09) EPS. Research analysts anticipate that Bandwidth Inc. will post 0.11 earnings per share for the current year.

Insider Transactions at Bandwidth

In related news, CFO Daryl Raiford sold 4,350 shares of the business’s stock in a transaction 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 transaction, the chief financial officer now directly owns 71,546 shares in the company, valued at $1,214,135.62. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last three months, insiders have sold 8,525 shares of company stock valued at $146,548. Corporate insiders own 6.20% of the company’s stock.

Institutional Investors Weigh In On Bandwidth

Institutional investors have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Bandwidth by 100.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,132 shares of the company’s stock worth $386,000 after purchasing an additional 10,571 shares during the last quarter. BNP Paribas Financial Markets raised its stake in shares of 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 buying an additional 6,266 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in shares of Bandwidth in the 1st quarter valued at about $1,143,000. Vanguard Group Inc. lifted its holdings in shares of Bandwidth by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 1,536,051 shares of the company’s stock valued at $28,048,000 after buying an additional 16,181 shares during the period. Finally, Acadian Asset Management LLC boosted its stake in shares of Bandwidth by 15.7% in the first quarter. Acadian Asset Management LLC now owns 341,303 shares of the company’s stock worth $6,231,000 after buying an additional 46,342 shares during the last quarter. Institutional investors and hedge funds 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.