Bandwidth (NASDAQ:BAND) Stock Price Expected to Rise, Robert W. Baird Analyst Says

Bandwidth (NASDAQ:BAND) had its price target increased by Robert W. Baird from $19.00 to $22.00 in a report published on Friday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

BAND has been the topic of several other reports. Barclays reduced their price objective on Bandwidth from $28.00 to $25.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Needham & Company LLC restated a “hold” rating on shares of Bandwidth in a report on Friday. Finally, JMP Securities restated a “market outperform” rating and issued a $36.00 price target on shares of Bandwidth in a report on Tuesday, August 27th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Bandwidth currently has a consensus rating of “Hold” and an average target price of $28.33.

Bandwidth Stock Performance

NASDAQ BAND opened at $18.59 on Friday. The business’s 50-day moving average price is $17.52 and its 200 day moving average price is $18.30. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.91. Bandwidth has a twelve month low of $10.60 and a twelve month high of $25.02. The company has a market capitalization of $507.51 million, a PE ratio of -19.99 and a beta of 1.50.

Bandwidth (NASDAQ:BAND) last released its earnings results on Thursday, October 31st. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.11. The firm had revenue of $193.90 million during the quarter, compared to the consensus estimate of $182.05 million. Bandwidth had a negative net margin of 2.23% and a negative return on equity of 0.91%. Bandwidth’s revenue was up 27.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.03 earnings per share. On average, research analysts predict that Bandwidth will post 0.11 earnings per share for the current year.

Insider Buying and Selling at Bandwidth

In other Bandwidth news, CFO Daryl Raiford sold 4,350 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $16.97, for a total value of $73,819.50. Following the transaction, the chief financial officer now directly owns 71,546 shares of the company’s stock, valued at $1,214,135.62. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have sold a total of 8,525 shares of company stock valued at $146,548 in the last three months. Corporate insiders own 6.20% of the company’s stock.

Hedge Funds Weigh In On Bandwidth

Institutional investors have recently made changes to their positions in the business. Innealta Capital LLC acquired a new position in shares of Bandwidth in the 2nd quarter valued at approximately $30,000. nVerses Capital LLC raised its position in shares of Bandwidth by 80.0% during the 3rd quarter. nVerses Capital LLC now owns 1,800 shares of the company’s stock valued at $32,000 after acquiring an additional 800 shares in the last quarter. Redwood Wealth Management Group LLC acquired a new stake in shares of Bandwidth during the 2nd quarter valued at approximately $35,000. Ameritas Investment Partners Inc. raised its position in shares of Bandwidth by 31.6% during the 1st quarter. Ameritas Investment Partners Inc. now owns 2,355 shares of the company’s stock valued at $43,000 after acquiring an additional 565 shares in the last quarter. Finally, Daiwa Securities Group Inc. acquired a new stake in shares of Bandwidth during the 2nd quarter valued at approximately $57,000. 68.53% of the stock is 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.