Robert W. Baird Issues Positive Forecast for Bandwidth (NASDAQ:BAND) Stock Price

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

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

Bandwidth Stock Down 4.1 %

Shares of Bandwidth stock opened at $18.70 on Friday. The company has a fifty day moving average price of $17.50 and a 200 day moving average price of $18.29. 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 $10.22 and a twelve month high of $25.02. The stock has a market cap of $510.51 million, a price-to-earnings ratio of -20.11 and a beta of 1.50.

Bandwidth (NASDAQ:BAND) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.11. Bandwidth had a negative net margin of 2.23% and a negative return on equity of 0.91%. The firm had revenue of $193.90 million during the quarter, compared to analysts’ expectations of $182.05 million. During the same period in the prior year, the company earned $0.03 EPS. The firm’s revenue was up 27.6% on a year-over-year basis. Equities research analysts forecast that Bandwidth will post 0.11 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Daryl Raiford sold 4,350 shares of the stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 71,546 shares in the company, valued at approximately $1,214,135.62. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 8,525 shares of company stock worth $146,548 over the last quarter. 6.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BAND. Mirae Asset Global Investments Co. Ltd. boosted its position in Bandwidth by 100.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,132 shares of the company’s stock worth $386,000 after acquiring an additional 10,571 shares during the period. BNP Paribas Financial Markets boosted 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 worth $250,000 after acquiring an additional 6,266 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in Bandwidth during the 1st quarter worth $1,143,000. Vanguard Group Inc. boosted its position in Bandwidth by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 1,536,051 shares of the company’s stock worth $28,048,000 after acquiring an additional 16,181 shares during the period. Finally, Acadian Asset Management LLC boosted its position in Bandwidth by 15.7% during the 1st quarter. Acadian Asset Management LLC now owns 341,303 shares of the company’s stock worth $6,231,000 after acquiring an additional 46,342 shares during the period. Institutional investors and hedge funds own 68.53% of the company’s stock.

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.