JMP Securities Reaffirms “Market Outperform” Rating for Bandwidth (NASDAQ:BAND)

Bandwidth (NASDAQ:BAND)‘s stock had its “market outperform” rating restated by investment analysts at JMP Securities in a research note issued on Tuesday, Benzinga reports. They currently have a $36.00 price target on the stock. JMP Securities’ price target suggests a potential upside of 110.40% from the stock’s previous close.

BAND has been the topic of several other reports. Robert W. Baird dropped their price objective on shares of Bandwidth from $25.00 to $19.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. KeyCorp lifted their price target on Bandwidth from $21.00 to $32.00 and gave the company an “overweight” rating in a research report on Wednesday, May 8th. Morgan Stanley lowered Bandwidth from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $18.00 to $15.00 in a report on Friday, June 14th. Barclays reduced their price objective on shares of Bandwidth from $28.00 to $25.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Bandwidth in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $25.71.

Bandwidth Stock Down 0.9 %

Shares of NASDAQ:BAND opened at $17.11 on Tuesday. The company has a market capitalization of $462.11 million, a PE ratio of -15.28 and a beta of 1.48. Bandwidth has a 1 year low of $9.34 and a 1 year high of $25.02. The company has a debt-to-equity ratio of 1.41, a current ratio of 2.36 and a quick ratio of 2.36. The business has a fifty day moving average price of $17.75 and a two-hundred day moving average price of $18.19.

Bandwidth (NASDAQ:BAND) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.29 EPS for the quarter, topping the consensus estimate 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 business had revenue of $174.00 million for the quarter, compared to analyst estimates of $173.18 million. During the same quarter in the previous year, the firm posted ($0.09) earnings per share. The company’s revenue for the quarter was up 19.2% on a year-over-year basis. Analysts forecast that Bandwidth will post 0.16 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Daryl Raiford sold 13,410 shares of the stock in a transaction on Friday, May 31st. The shares were sold at an average price of $20.01, for a total transaction of $268,334.10. Following the transaction, the chief financial officer now owns 68,076 shares of the company’s stock, valued at approximately $1,362,200.76. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CFO Daryl Raiford sold 13,410 shares of the firm’s stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $20.01, for a total transaction of $268,334.10. Following the transaction, the chief financial officer now directly owns 68,076 shares in the company, valued at approximately $1,362,200.76. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Lukas M. Roush acquired 4,963 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were bought at an average cost of $16.12 per share, with a total value of $80,003.56. Following the purchase, the director now owns 43,167 shares of the company’s stock, valued at approximately $695,852.04. The disclosure for this purchase can be found here. Insiders sold a total of 26,279 shares of company stock valued at $524,941 over the last quarter. 6.20% of the stock is owned by corporate insiders.

Institutional Trading of Bandwidth

Institutional investors have recently modified their holdings of the company. Janney Montgomery Scott LLC lifted its stake 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 acquiring an additional 14,752 shares during the period. Panagora Asset Management Inc. bought a new stake in Bandwidth during the fourth quarter worth about $471,000. Quest Partners LLC purchased a new stake in Bandwidth in the fourth quarter worth about $145,000. Oak Harbor Wealth Partners LLC bought a new position in shares of Bandwidth during the fourth quarter valued at approximately $224,000. Finally, Olympiad Research LP lifted its holdings in shares of Bandwidth by 65.4% during the fourth quarter. Olympiad Research LP now owns 16,917 shares of the company’s stock valued at $245,000 after purchasing an additional 6,686 shares during the last quarter. 68.53% of the stock is currently owned by hedge funds and other institutional investors.

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.