Bandwidth (NASDAQ:BAND) Price Target Increased to $28.00 by Analysts at Barclays

Bandwidth (NASDAQ:BAND) had its price target hoisted by Barclays from $22.00 to $28.00 in a research report released on Wednesday, Benzinga reports. Barclays currently has an overweight rating on the stock.

A number of other equities analysts have also issued reports on BAND. KeyCorp raised their target price on shares of Bandwidth from $21.00 to $32.00 and gave the stock an overweight rating in a research report on Wednesday. Robert W. Baird lifted their price objective on shares of Bandwidth from $21.00 to $25.00 and gave the company a neutral rating in a research note on Wednesday. Finally, Canaccord Genuity Group upped 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. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $25.38.

Bandwidth Trading Up 0.4 %

NASDAQ BAND opened at $21.61 on Wednesday. Bandwidth has a 12 month low of $9.34 and a 12 month high of $25.02. The company has a market capitalization of $567.69 million, a price-to-earnings ratio of -19.29 and a beta of 1.44. The company has a debt-to-equity ratio of 1.41, a current ratio of 2.36 and a quick ratio of 2.06. The firm’s fifty day moving average price is $18.67 and its 200 day moving average price is $15.06.

Bandwidth (NASDAQ:BAND) last posted its earnings results on Wednesday, February 28th. The company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.01). The firm had revenue of $165.00 million for the quarter, compared to analyst estimates of $154.17 million. Bandwidth had a negative return on equity of 2.49% and a negative net margin of 4.60%. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.04 EPS. On average, sell-side analysts expect that Bandwidth will post 0.19 earnings per share for the current fiscal year.

Insider Activity at Bandwidth

In other news, COO Anthony Bartolo sold 7,798 shares of the stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $18.75, for a total transaction of $146,212.50. Following the completion of the transaction, 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 document filed with the SEC, which is accessible through this link. Insiders sold a total of 12,556 shares of company stock worth $239,567 over the last 90 days. Company insiders own 6.20% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of Bandwidth by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 1,536,051 shares of the company’s stock worth $28,048,000 after purchasing an additional 16,181 shares during the period. Acadian Asset Management LLC increased its holdings in Bandwidth by 15.7% in the first quarter. Acadian Asset Management LLC now owns 341,303 shares of the company’s stock valued at $6,231,000 after buying an additional 46,342 shares in the last quarter. Palogic Value Management L.P. lifted its position in shares of Bandwidth by 17.0% during the 4th quarter. Palogic Value Management L.P. now owns 300,000 shares of the company’s stock valued at $4,341,000 after acquiring an additional 43,675 shares during the period. G2 Investment Partners Management LLC purchased a new stake in shares of Bandwidth during the 4th quarter worth approximately $4,079,000. Finally, Parcion Private Wealth LLC grew its holdings in shares of Bandwidth by 1.0% in the 4th quarter. Parcion Private Wealth LLC now owns 216,428 shares of the company’s stock worth $3,132,000 after acquiring an additional 2,153 shares during the period. Hedge funds and other institutional investors own 68.53% of the company’s stock.

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.