KeyCorp Boosts Bandwidth (NASDAQ:BAND) Price Target to $32.00

Bandwidth (NASDAQ:BAND) had its target price hoisted by equities research analysts at KeyCorp from $21.00 to $32.00 in a report released on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. KeyCorp’s price objective suggests a potential upside of 48.29% from the company’s current price.

BAND has been the topic of a number of other reports. Canaccord Genuity Group lifted their price target on Bandwidth from $38.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday. Robert W. Baird boosted their target price on shares of Bandwidth from $21.00 to $25.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, Barclays raised their price target on shares of Bandwidth from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Thursday, February 29th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Bandwidth presently has a consensus rating of “Moderate Buy” and an average target price of $25.38.

Bandwidth Stock Down 4.3 %

Shares of BAND stock traded down $0.96 on Wednesday, hitting $21.58. The stock had a trading volume of 390,323 shares, compared to its average volume of 346,933. Bandwidth has a one year low of $9.34 and a one year high of $25.02. The business has a 50 day moving average price of $18.58 and a 200 day moving average price of $14.85. The company has a market cap of $566.91 million, a PE ratio of -20.46 and a beta of 1.44. The company has a quick ratio of 2.06, a current ratio of 2.06 and a debt-to-equity ratio of 1.41.

Bandwidth (NASDAQ:BAND) last posted its quarterly 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). Bandwidth had a negative net margin of 2.72% and a negative return on equity of 3.10%. The business had revenue of $165.00 million during the quarter, compared to the consensus estimate of $154.17 million. During the same quarter in the prior year, the firm posted $0.04 EPS. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. Research analysts anticipate that Bandwidth will post 0.19 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, COO Anthony Bartolo sold 7,798 shares of the company’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $18.75, for a total value of $146,212.50. Following the sale, the chief operating officer now owns 76,469 shares in the company, valued at $1,433,793.75. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold 12,556 shares of company stock worth $239,567 in the last 90 days. Insiders own 6.20% of the company’s stock.

Institutional Investors Weigh In On Bandwidth

Hedge funds have recently added to or reduced their stakes in the business. DekaBank Deutsche Girozentrale acquired a new position in shares of Bandwidth in the 3rd quarter valued at about $75,000. Headlands Technologies LLC raised its position in Bandwidth by 21.3% during the third quarter. Headlands Technologies LLC now owns 9,315 shares of the company’s stock valued at $105,000 after acquiring an additional 1,636 shares in the last quarter. Raymond James & Associates purchased a new stake in Bandwidth in the 3rd quarter worth approximately $115,000. Quest Partners LLC acquired a new stake in shares of Bandwidth during the 4th quarter worth approximately $145,000. Finally, Oak Harbor Wealth Partners LLC purchased a new position in shares of Bandwidth during the 4th quarter valued at approximately $224,000. 68.53% of the stock is owned by hedge funds and other institutional investors.

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.