Bandwidth (NASDAQ:BAND) PT Raised to $25.00 at Robert W. Baird

Bandwidth (NASDAQ:BAND) had its price target lifted by stock analysts at Robert W. Baird from $21.00 to $25.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Robert W. Baird’s price target indicates a potential upside of 10.91% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. Barclays increased their target price on shares of Bandwidth from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Thursday, February 29th. Canaccord Genuity Group boosted their target price on Bandwidth from $36.00 to $38.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. Finally, KeyCorp increased their price target on Bandwidth from $16.00 to $21.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $21.14.

Bandwidth Stock Performance

Shares of Bandwidth stock opened at $22.54 on Wednesday. The company has a quick ratio of 2.06, a current ratio of 2.06 and a debt-to-equity ratio of 1.41. The stock’s fifty day moving average is $18.58 and its two-hundred day moving average is $14.85. Bandwidth has a 52 week low of $9.34 and a 52 week high of $25.02. The company has a market capitalization of $592.13 million, a PE ratio of -21.47 and a beta of 1.44.

Bandwidth (NASDAQ:BAND) last announced its quarterly earnings data on Wednesday, February 28th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.01). Bandwidth had a negative return on equity of 3.10% and a negative net margin of 2.72%. The firm had revenue of $165.00 million during the quarter, compared to the consensus estimate of $154.17 million. During the same period last year, the company earned $0.04 EPS. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, analysts expect that Bandwidth will post 0.19 earnings per share for the current year.

Insider Activity

In related news, COO Anthony Bartolo sold 7,798 shares of the business’s stock in a transaction on Friday, March 22nd. The shares were 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 in the company, valued at $1,433,793.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 12,556 shares of company stock valued at $239,567 in the last ninety days. Insiders own 6.20% of the company’s stock.

Institutional Investors Weigh In On Bandwidth

Several hedge funds have recently bought and sold shares of BAND. DekaBank Deutsche Girozentrale purchased a new stake in Bandwidth during the third quarter worth $75,000. Headlands Technologies LLC raised its holdings in Bandwidth by 21.3% in the 3rd quarter. Headlands Technologies LLC now owns 9,315 shares of the company’s stock worth $105,000 after purchasing an additional 1,636 shares during the period. Raymond James & Associates purchased a new position in Bandwidth during the third quarter worth approximately $115,000. Quest Partners LLC acquired a new stake in Bandwidth in the fourth quarter valued at approximately $145,000. Finally, Oak Harbor Wealth Partners LLC acquired a new position in shares of Bandwidth during the 4th quarter worth about $224,000. 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.