JMP Securities Lowers Bandwidth (NASDAQ:BAND) Price Target to $32.00

Bandwidth (NASDAQ:BAND – Get Rating) had its price objective reduced by investment analysts at JMP Securities from $55.00 to $32.00 in a report issued on Wednesday, The Fly reports. The firm presently has an “outperform” rating on the stock. JMP Securities’ price objective suggests a potential upside of 106.45% from the company’s current price.

Other research analysts also recently issued reports about the company. KeyCorp lowered their price objective on Bandwidth from $29.00 to $27.00 and set an “overweight” rating for the company in a research note on Friday, February 24th. Barclays lowered their price objective on Bandwidth from $30.00 to $25.00 and set an “overweight” rating for the company in a research note on Friday, February 24th. Morgan Stanley decreased their price target on Bandwidth from $23.00 to $21.00 and set an “equal weight” rating for the company in a research note on Friday, February 24th. Citigroup increased their price target on Bandwidth from $17.00 to $19.00 and gave the stock a “neutral” rating in a research note on Monday, February 27th. Finally, Piper Sandler cut Bandwidth from an “overweight” rating to a “neutral” rating and increased their price target for the stock from $18.00 to $25.00 in a research note on Tuesday, January 17th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $26.89.

Bandwidth Stock Performance

BAND stock opened at $15.50 on Wednesday. The company has a current ratio of 2.45, a quick ratio of 2.45 and a debt-to-equity ratio of 1.77. The firm has a market cap of $394.32 million, a P/E ratio of -21.83 and a beta of 1.26. Bandwidth has a 12-month low of $9.20 and a 12-month high of $34.89. The stock’s 50 day simple moving average is $21.30 and its 200 day simple moving average is $18.77.

Bandwidth (NASDAQ:BAND – Get Rating) last issued its quarterly earnings data on Thursday, February 23rd. The company reported $0.04 EPS for the quarter, hitting analysts’ consensus estimates of $0.04. The firm had revenue of $157.00 million during the quarter, compared to the consensus estimate of $146.96 million. Bandwidth had a negative return on equity of 0.49% and a net margin of 3.41%. The firm’s revenue was up 24.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.09 EPS. As a group, equities research analysts predict that Bandwidth will post -0.02 EPS for the current year.

Insider Activity at Bandwidth

In other news, Director Lukas M. Roush bought 9,200 shares of the firm’s stock in a transaction that occurred on Friday, March 3rd. The stock was acquired at an average price of $15.99 per share, with a total value of $147,108.00. Following the completion of the purchase, the director now directly owns 23,890 shares of the company’s stock, valued at approximately $382,001.10. The acquisition was disclosed in a filing with the SEC, which is available at this link. Company insiders own 5.79% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of BAND. Millennium Management LLC boosted its stake in Bandwidth by 395.6% during the fourth quarter. Millennium Management LLC now owns 729,722 shares of the company’s stock valued at $16,747,000 after buying an additional 582,494 shares in the last quarter. Capital Research Global Investors lifted its holdings in shares of Bandwidth by 27.5% during the first quarter. Capital Research Global Investors now owns 2,324,883 shares of the company’s stock valued at $75,303,000 after purchasing an additional 501,958 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Bandwidth by 254.7% during the first quarter. Renaissance Technologies LLC now owns 468,200 shares of the company’s stock valued at $15,165,000 after purchasing an additional 336,200 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Bandwidth during the third quarter valued at $2,499,000. Finally, Federated Hermes Inc. purchased a new stake in shares of Bandwidth during the second quarter valued at $3,132,000. Institutional investors own 71.12% of the company’s stock.

About Bandwidth

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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.