Bandwidth (NASDAQ:BAND) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Bandwidth (NASDAQ:BAND) from a hold rating to a buy rating in a research note released on Saturday,Wall Street Zen reports.

Other equities research analysts have also issued reports about the company. Piper Sandler lifted their price target on Bandwidth from $38.00 to $52.00 and gave the company a “neutral” rating in a report on Wednesday, August 19th. B. Riley Financial boosted their price target on Bandwidth from $55.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, July 9th. Bank of America started coverage on Bandwidth in a report on Wednesday, September 16th. They issued a “neutral” rating and a $60.00 price objective on the stock. Citigroup reaffirmed a “market outperform” rating on shares of Bandwidth in a research report on Friday. Finally, Zacks Research cut shares of Bandwidth from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 3rd. Four equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $66.67.

Bandwidth Price Performance

Shares of NASDAQ:BAND opened at $42.97 on Friday. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.87. Bandwidth has a 1 year low of $12.50 and a 1 year high of $79.08. The business has a fifty day simple moving average of $51.45 and a 200 day simple moving average of $40.89. The firm has a market cap of $1.38 billion, a price-to-earnings ratio of -358.05, a P/E/G ratio of 4.32 and a beta of 3.01.

Bandwidth (NASDAQ:BAND) last issued its earnings results on Thursday, October 29th. The company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.03. Bandwidth had a return on equity of 1.85% and a net margin of 0.27%. The firm had revenue of $234.02 million for the quarter, compared to the consensus estimate of $233.15 million. The business’s revenue for the quarter was up 21.9% compared to the same quarter last year. As a group, sell-side analysts predict that Bandwidth will post 0.63 earnings per share for the current fiscal year.

Insider Transactions at Bandwidth

In other Bandwidth news, Director Lukas Roush sold 1,500 shares of the stock in a transaction on Friday, October 16th. The shares were sold at an average price of $49.04, for a total transaction of $73,560.00. Following the transaction, the director directly owned 58,769 shares of the company’s stock, valued at $2,882,031.76. This represents a 2.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Rebecca Bottorff sold 2,713 shares of the firm’s stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $49.15, for a total value of $133,343.95. Following the transaction, the insider owned 10,704 shares in the company, valued at approximately $526,101.60. This trade represents a 20.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 25,050 shares of company stock valued at $1,228,342 in the last three months. 5.26% of the stock is currently owned by company insiders.

Institutional Trading of Bandwidth

Several large investors have recently made changes to their positions in the stock. Sterling Capital Management LLC increased its holdings in shares of Bandwidth by 850.0% during the 3rd quarter. Sterling Capital Management LLC now owns 988 shares of the company’s stock valued at $60,000 after acquiring an additional 884 shares during the last quarter. TD Waterhouse Canada Inc. acquired a new stake in Bandwidth in the 2nd quarter worth approximately $70,000. State of Alaska Department of Revenue lifted its holdings in Bandwidth by 43.1% in the 3rd quarter. State of Alaska Department of Revenue now owns 1,262 shares of the company’s stock worth $76,000 after purchasing an additional 380 shares during the last quarter. Integrated Wealth Concepts LLC bought a new stake in Bandwidth during the second quarter worth approximately $94,000. Finally, Simplicity Wealth LLC bought a new stake in Bandwidth during the third quarter worth approximately $202,000. Institutional investors own 68.53% of the company’s stock.

About Bandwidth

Bandwidth Inc (NASDAQ:BAND) is a cloud communications company that provides application programming interfaces (APIs) and related network services for integrating voice, messaging and emergency communications into software applications. Its platform is designed for businesses, communications providers and technology companies that need to build communications capabilities into customer-facing products and internal workflows.

The company’s offerings include programmable voice, text messaging and toll-free messaging services, as well as emergency calling capabilities through its E911 solution.