Bandwidth (NASDAQ:BAND) Price Target Raised to $28.00 at Barclays

Bandwidth (NASDAQ:BAND) had its target price increased by Barclays from $22.00 to $28.00 in a research report released on Wednesday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

BAND has been the subject of a number of other research reports. KeyCorp lifted their price objective on Bandwidth from $21.00 to $32.00 and gave the company an overweight rating in a research report on Wednesday. Robert W. Baird lifted their price target on Bandwidth from $21.00 to $25.00 and gave the company a neutral rating in a report on Wednesday. Finally, Canaccord Genuity Group boosted their price target on Bandwidth from $38.00 to $40.00 and gave the company a buy rating in a research note on Wednesday. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $25.38.

Bandwidth Trading Down 6.2 %

NASDAQ:BAND opened at $21.15 on Wednesday. The stock has a market cap of $555.61 million, a PE ratio of -20.14 and a beta of 1.44. Bandwidth has a fifty-two week low of $9.34 and a fifty-two week high of $25.02. The company has a debt-to-equity ratio of 1.41, a current ratio of 2.06 and a quick ratio of 2.06. The stock’s 50-day moving average is $18.64 and its two-hundred day moving average is $14.89.

Bandwidth (NASDAQ:BAND) last announced its quarterly earnings data on Wednesday, February 28th. The company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $165.00 million for the quarter, compared to analysts’ expectations of $154.17 million. During the same period in the previous year, the firm posted $0.04 earnings per share. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. As a group, equities research analysts forecast that Bandwidth will post 0.19 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Bandwidth news, COO Anthony Bartolo sold 7,798 shares of the stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $18.75, for a total transaction of $146,212.50. Following the transaction, the chief operating officer now owns 76,469 shares in the company, valued at $1,433,793.75. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In the last ninety days, insiders sold 12,556 shares of company stock worth $239,567. 6.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Bandwidth

Large investors have recently made changes to their positions in the business. DekaBank Deutsche Girozentrale acquired a new stake in Bandwidth in the 3rd quarter valued at approximately $75,000. Headlands Technologies LLC grew its stake in shares of Bandwidth by 21.3% in the third 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. Raymond James & Associates acquired a new stake in shares of Bandwidth in the third quarter worth $115,000. Quest Partners LLC bought a new position in Bandwidth during the fourth quarter worth $145,000. Finally, Oak Harbor Wealth Partners LLC acquired a new position in Bandwidth during the 4th quarter valued at $224,000. 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.