Bandwidth (NASDAQ:BAND) Shares Up 5.7%

Bandwidth Inc. (NASDAQ:BAND) shares were up 5.7% on Monday . The stock traded as high as $20.41 and last traded at $20.36. Approximately 104,321 shares traded hands during trading, a decline of 69% from the average daily volume of 332,946 shares. The stock had previously closed at $19.26.

Wall Street Analysts Forecast Growth

BAND has been the topic of several research analyst reports. Barclays lifted their price objective on Bandwidth from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. KeyCorp boosted their price target on Bandwidth from $16.00 to $21.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. Finally, Canaccord Genuity Group raised their price objective on Bandwidth from $36.00 to $38.00 and gave the company a “buy” rating in a report on Thursday, February 29th. Three 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 stock presently has a consensus rating of “Moderate Buy” and an average price target of $20.50.

Bandwidth Price Performance

The company has a market cap of $538.80 million, a price-to-earnings ratio of -19.44 and a beta of 1.44. The stock has a 50 day simple moving average of $18.20 and a two-hundred day simple moving average of $14.69. The company has a debt-to-equity ratio of 1.41, a current ratio of 2.06 and a quick ratio of 2.06.

Bandwidth (NASDAQ:BAND) last issued 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). 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 for the quarter, compared to analysts’ expectations of $154.17 million. During the same period last year, the firm earned $0.04 earnings per share. Bandwidth’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, equities research analysts predict that Bandwidth Inc. will post 0.19 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Bandwidth news, COO Anthony Bartolo sold 7,798 shares of the company’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $18.75, for a total value of $146,212.50. Following the transaction, the chief operating officer now owns 76,469 shares of the company’s stock, valued at $1,433,793.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Over the last three months, insiders sold 12,556 shares of company stock worth $239,567. Company insiders own 6.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of BAND. G2 Investment Partners Management LLC acquired a new position in Bandwidth during the 4th quarter worth about $4,079,000. Hussman Strategic Advisors Inc. boosted its stake in shares of Bandwidth by 366.7% in the fourth quarter. Hussman Strategic Advisors Inc. now owns 147,000 shares of the company’s stock valued at $2,127,000 after purchasing an additional 115,500 shares during the period. B. Riley Asset Management LLC purchased a new stake in Bandwidth during the 3rd quarter worth approximately $682,000. Palogic Value Management L.P. lifted its holdings in Bandwidth by 17.0% during the 4th quarter. Palogic Value Management L.P. now owns 300,000 shares of the company’s stock worth $4,341,000 after buying an additional 43,675 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Bandwidth by 3.0% during the 3rd quarter. Vanguard Group Inc. now owns 1,480,343 shares of the company’s stock worth $16,683,000 after buying an additional 43,411 shares in 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.