Bandwidth (NASDAQ:BAND) Given New $19.00 Price Target at Robert W. Baird

Bandwidth (NASDAQ:BAND) had its price target reduced by Robert W. Baird from $25.00 to $19.00 in a research note published on Friday, Benzinga reports. They currently have a neutral rating on the stock.

Several other research firms also recently weighed in on BAND. JMP Securities boosted their price target on shares of Bandwidth from $32.00 to $36.00 and gave the stock a market outperform rating in a research note on Wednesday, May 8th. Barclays lowered their price target on shares of Bandwidth from $28.00 to $25.00 and set an overweight rating for the company in a research note on Friday. Morgan Stanley downgraded shares of Bandwidth from an equal weight rating to an underweight rating and lowered their price target for the stock from $18.00 to $15.00 in a research note on Friday, June 14th. Canaccord Genuity Group boosted their price target on shares of Bandwidth from $38.00 to $40.00 and gave the stock a buy rating in a research note on Wednesday, May 8th. Finally, KeyCorp boosted their price target on shares of Bandwidth from $21.00 to $32.00 and gave the stock an overweight rating in a research note on Wednesday, May 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Hold and a consensus price target of $25.71.

Bandwidth Stock Down 4.8 %

NASDAQ BAND opened at $15.21 on Friday. Bandwidth has a 52-week low of $9.34 and a 52-week high of $25.02. The company has a quick ratio of 2.36, a current ratio of 2.36 and a debt-to-equity ratio of 1.41. The company has a fifty day moving average of $18.75 and a 200-day moving average of $17.87.

Bandwidth (NASDAQ:BAND) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.01. Bandwidth had a negative net margin of 3.21% and a negative return on equity of 1.92%. The company had revenue of $174.00 million during the quarter, compared to the consensus estimate of $173.18 million. During the same period in the previous year, the firm posted ($0.09) EPS. The firm’s revenue was up 19.2% compared to the same quarter last year. On average, research analysts forecast that Bandwidth will post 0.16 earnings per share for the current fiscal year.

Insider Buying and Selling at Bandwidth

In other Bandwidth news, insider Devin M. Krupka sold 2,500 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $21.61, for a total value of $54,025.00. Following the transaction, the insider now owns 7,262 shares in the company, valued at $156,931.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Devin M. Krupka sold 2,500 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $21.61, for a total transaction of $54,025.00. Following the transaction, the insider now owns 7,262 shares in the company, valued at $156,931.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Lukas M. Roush purchased 4,963 shares of Bandwidth stock in a transaction that occurred on Friday, June 14th. The shares were bought at an average price of $16.12 per share, for a total transaction of $80,003.56. Following the transaction, the director now directly owns 43,167 shares of the company’s stock, valued at $695,852.04. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 32,973 shares of company stock worth $664,643. 6.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Bandwidth

Several hedge funds and other institutional investors have recently modified their holdings of BAND. Vanguard Group Inc. increased its position in shares of Bandwidth by 3.0% during the third quarter. Vanguard Group Inc. now owns 1,480,343 shares of the company’s stock valued at $16,683,000 after buying an additional 43,411 shares during the period. SG Americas Securities LLC purchased a new stake in Bandwidth in the fourth quarter worth about $238,000. Hussman Strategic Advisors Inc. grew its holdings in Bandwidth by 366.7% in the fourth quarter. Hussman Strategic Advisors Inc. now owns 147,000 shares of the company’s stock worth $2,127,000 after purchasing an additional 115,500 shares during the period. Janney Montgomery Scott LLC grew its holdings in Bandwidth by 25.2% in the fourth quarter. Janney Montgomery Scott LLC now owns 73,235 shares of the company’s stock worth $1,060,000 after purchasing an additional 14,752 shares during the period. Finally, Panagora Asset Management Inc. purchased a new stake in Bandwidth in the fourth quarter worth about $471,000. Hedge funds and other institutional investors 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.