Bandwidth (NASDAQ:BAND) Given New $32.00 Price Target at KeyCorp

Bandwidth (NASDAQ:BAND) had its price target lifted by KeyCorp from $21.00 to $32.00 in a research note issued to investors on Wednesday, Benzinga reports. They currently have an overweight rating on the stock.

Several other equities analysts have also commented on BAND. Canaccord Genuity Group increased their target price on shares of Bandwidth from $38.00 to $40.00 and gave the company a buy rating in a report on Wednesday. Barclays raised their price objective on Bandwidth from $20.00 to $22.00 and gave the company an overweight rating in a research note on Thursday, February 29th. Finally, Robert W. Baird lifted their price objective on Bandwidth from $21.00 to $25.00 and gave the stock a neutral rating in a report on Wednesday. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $25.38.

Bandwidth Trading Down 6.2 %

Shares of BAND stock opened at $21.15 on Wednesday. The business has a 50-day moving average price of $18.64 and a two-hundred day moving average price of $14.89. Bandwidth has a 12-month low of $9.34 and a 12-month high of $25.02. The company has a quick ratio of 2.06, a current ratio of 2.06 and a debt-to-equity ratio of 1.41. The firm has a market cap of $555.61 million, a P/E ratio of -20.14 and a beta of 1.44.

Bandwidth (NASDAQ:BAND) last released its 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 firm had revenue of $165.00 million during the quarter, compared to the consensus estimate of $154.17 million. During the same quarter in the previous year, the firm earned $0.04 EPS. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. Equities analysts anticipate 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 stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $18.75, for a total transaction of $146,212.50. Following the sale, the chief operating officer now directly owns 76,469 shares of the company’s stock, valued at approximately $1,433,793.75. The sale 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 valued at $239,567 in the last quarter. 6.20% of the stock is owned by insiders.

Institutional Trading of Bandwidth

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Bandwidth by 3.0% in the 3rd quarter. Vanguard Group Inc. now owns 1,480,343 shares of the company’s stock worth $16,683,000 after buying an additional 43,411 shares during the last quarter. Palogic Value Management L.P. grew its position in Bandwidth by 17.0% in the 4th quarter. Palogic Value Management L.P. now owns 300,000 shares of the company’s stock worth $4,341,000 after purchasing an additional 43,675 shares during the period. G2 Investment Partners Management LLC purchased a new stake in Bandwidth during the 4th quarter valued at $4,079,000. Parcion Private Wealth LLC raised its stake in Bandwidth by 1.0% during the 4th quarter. Parcion Private Wealth LLC now owns 216,428 shares of the company’s stock valued at $3,132,000 after buying an additional 2,153 shares during the last quarter. Finally, Hussman Strategic Advisors Inc. lifted its holdings in shares of Bandwidth by 366.7% during the 4th quarter. Hussman Strategic Advisors Inc. now owns 147,000 shares of the company’s stock valued at $2,127,000 after buying an additional 115,500 shares during the period. 68.53% of the stock is currently 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.