Bandwidth’s (BAND) Outperform Rating Reiterated at William Blair

Bandwidth (NASDAQ:BAND)‘s stock had its “outperform” rating restated by equities research analysts at William Blair in a report released on Friday,RTT News reports.

Several other research analysts have also commented on the stock. Morgan Stanley raised their price target on shares of Bandwidth from $17.00 to $18.00 and gave the company an “underweight” rating in a report on Wednesday, December 18th. Needham & Company LLC restated a “hold” rating on shares of Bandwidth in a report on Friday. Robert W. Baird raised their price target on shares of Bandwidth from $19.00 to $22.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Finally, Barclays cut their price target on shares of Bandwidth from $25.00 to $22.00 and set an “overweight” rating on the stock in a report on Friday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Bandwidth has a consensus rating of “Moderate Buy” and an average target price of $28.33.

Bandwidth Trading Down 2.6 %

Shares of BAND traded down $0.46 during mid-day trading on Friday, hitting $17.00. The company had a trading volume of 748,618 shares, compared to its average volume of 302,053. The business’s 50-day simple moving average is $17.44 and its 200-day simple moving average is $17.84. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.83. Bandwidth has a 1-year low of $11.90 and a 1-year high of $25.02. The stock has a market cap of $467.67 million, a PE ratio of -18.28 and a beta of 1.54.

Bandwidth (NASDAQ:BAND) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.36). Bandwidth had a negative net margin of 2.23% and a negative return on equity of 0.89%. The business had revenue of $209.97 million during the quarter, compared to analysts’ expectations of $203.68 million. During the same quarter in the previous year, the business posted $0.38 EPS. Sell-side analysts forecast that Bandwidth will post 0.08 earnings per share for the current year.

Insider Activity

In other news, General Counsel Richard Brandon Asbill sold 5,561 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $21.26, for a total transaction of $118,226.86. Following the completion of the transaction, the general counsel now owns 41,825 shares of the company’s stock, valued at approximately $889,199.50. The trade was a 11.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO David A. Morken sold 15,410 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $21.26, for a total transaction of $327,616.60. Following the transaction, the chief executive officer now directly owns 101,821 shares of the company’s stock, valued at approximately $2,164,714.46. This trade represents a 13.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 51,417 shares of company stock worth $1,063,184 over the last 90 days. Company insiders own 6.20% of the company’s stock.

Hedge Funds Weigh In On Bandwidth

Several hedge funds and other institutional investors have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Bandwidth by 4.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,185 shares of the company’s stock valued at $241,000 after purchasing an additional 608 shares in the last quarter. Dynamic Technology Lab Private Ltd raised its holdings in Bandwidth by 1.6% during the 4th quarter. Dynamic Technology Lab Private Ltd now owns 43,366 shares of the company’s stock worth $738,000 after buying an additional 699 shares during the period. Los Angeles Capital Management LLC grew its stake in Bandwidth by 3.6% during the 3rd quarter. Los Angeles Capital Management LLC now owns 21,221 shares of the company’s stock valued at $372,000 after acquiring an additional 740 shares in the last quarter. Quarry LP grew its stake in Bandwidth by 157.6% during the 3rd quarter. Quarry LP now owns 2,035 shares of the company’s stock valued at $36,000 after acquiring an additional 1,245 shares in the last quarter. Finally, SG Americas Securities LLC grew its stake in Bandwidth by 14.5% during the 4th quarter. SG Americas Securities LLC now owns 11,102 shares of the company’s stock valued at $189,000 after acquiring an additional 1,407 shares in the last quarter. 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.