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

Bandwidth (NASDAQ:BAND) had its target price increased by investment analysts at Barclays from $22.00 to $28.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price target would indicate a potential upside of 29.75% from the company’s previous close.

Several other equities research analysts have also commented on the company. Robert W. Baird boosted their price target on Bandwidth from $21.00 to $25.00 and gave the stock a “neutral” rating in a research note on Wednesday. KeyCorp boosted their target price on Bandwidth from $21.00 to $32.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Canaccord Genuity Group raised their price target on Bandwidth from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $25.38.

Bandwidth Price Performance

BAND stock traded down $0.96 on Wednesday, reaching $21.58. 390,323 shares of the company’s stock were exchanged, compared to its average volume of 346,933. The stock has a fifty day moving average of $18.58 and a 200-day moving average of $14.85. The firm 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 has a twelve month low of $9.34 and a twelve month high of $25.02.

Bandwidth (NASDAQ:BAND) last posted its quarterly earnings results on Wednesday, February 28th. The company reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.01). Bandwidth had a negative return on equity of 3.10% and a negative net margin of 2.72%. The company had revenue of $165.00 million for the quarter, compared to analyst estimates of $154.17 million. During the same period last year, the company earned $0.04 earnings per share. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, equities analysts predict that Bandwidth will post 0.19 EPS for the current fiscal year.

Insider Transactions at Bandwidth

In related news, COO Anthony Bartolo sold 7,798 shares of the company’s stock in a transaction 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 completion of the transaction, the chief operating officer now directly owns 76,469 shares in the company, valued at $1,433,793.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 12,556 shares of company stock worth $239,567 over the last ninety days. 6.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Bandwidth

Several institutional investors and hedge funds have recently bought and sold shares of the stock. DekaBank Deutsche Girozentrale purchased a new position in shares of Bandwidth in the 3rd quarter worth $75,000. Headlands Technologies LLC raised its holdings in shares of Bandwidth by 21.3% in the 3rd quarter. Headlands Technologies LLC now owns 9,315 shares of the company’s stock worth $105,000 after purchasing an additional 1,636 shares during the period. Raymond James & Associates acquired a new position in shares of Bandwidth in the 3rd quarter valued at about $115,000. Quest Partners LLC purchased a new stake in shares of Bandwidth during the 4th quarter worth about $145,000. Finally, Oak Harbor Wealth Partners LLC acquired a new stake in Bandwidth during the 4th quarter worth approximately $224,000. 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.