Bandwidth (NASDAQ:BAND) PT Raised to $36.00 at JMP Securities

Bandwidth (NASDAQ:BAND) had its price target lifted by JMP Securities from $32.00 to $36.00 in a report published on Wednesday, Benzinga reports. JMP Securities currently has a market outperform rating on the stock.

Other equities research analysts also recently issued reports about the stock. Canaccord Genuity Group increased their price objective on shares of Bandwidth from $38.00 to $40.00 and gave the company a buy rating in a research report on Wednesday. Barclays lifted their price target on Bandwidth from $22.00 to $28.00 and gave the stock an overweight rating in a report on Wednesday. KeyCorp increased their price objective on Bandwidth from $21.00 to $32.00 and gave the company an overweight rating in a report on Wednesday. Finally, Robert W. Baird upped their price target on Bandwidth from $21.00 to $25.00 and gave the company a neutral rating in a report on Wednesday. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $25.38.

Bandwidth Stock Down 6.2 %

Bandwidth stock opened at $21.15 on Wednesday. The firm has a market capitalization of $555.61 million, a P/E ratio of -20.14 and a beta of 1.44. The stock’s fifty day simple moving average is $18.64 and its 200-day simple moving average is $14.89. Bandwidth has a twelve month low of $9.34 and a twelve month high of $25.02. The company has a current ratio of 2.06, a quick ratio of 2.06 and a debt-to-equity ratio of 1.41.

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

Insiders Place Their Bets

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 value of $146,212.50. Following the completion of the sale, the chief operating officer now directly 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 through this hyperlink. Insiders have sold a total of 12,556 shares of company stock valued at $239,567 over the last quarter. Company insiders own 6.20% of the company’s stock.

Institutional Trading of Bandwidth

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