Barclays Boosts Bandwidth (NASDAQ:BAND) Price Target to $28.00

Bandwidth (NASDAQ:BAND) had its price target upped by research analysts at Barclays from $22.00 to $28.00 in a report released on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s target price points to a potential upside of 29.75% from the stock’s current price.

Other analysts have also issued research reports about the stock. Robert W. Baird raised their price objective on shares of Bandwidth from $21.00 to $25.00 and gave the stock a “neutral” rating in a report on Wednesday. KeyCorp raised their price target on Bandwidth from $21.00 to $32.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Canaccord Genuity Group boosted their price objective on Bandwidth from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $25.38.

Bandwidth Trading Down 4.3 %

Shares of Bandwidth stock traded down $0.96 during trading on Wednesday, hitting $21.58. The stock had a trading volume of 390,323 shares, compared to its average volume of 346,933. The stock has a 50 day simple moving average of $18.58 and a 200 day simple moving average of $14.85. The company has a quick ratio of 2.06, a current ratio of 2.06 and a debt-to-equity ratio of 1.41. Bandwidth has a 1 year low of $9.34 and a 1 year high of $25.02. The company has a market capitalization of $566.91 million, a PE ratio of -20.46 and a beta of 1.44.

Bandwidth (NASDAQ:BAND) last released its quarterly earnings results 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). The company had revenue of $165.00 million for the quarter, compared to the consensus estimate of $154.17 million. Bandwidth had a negative return on equity of 3.10% and a negative net margin of 2.72%. The business’s revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.04 EPS. On average, research analysts expect that Bandwidth will post 0.19 EPS for the current fiscal year.

Insider Transactions at Bandwidth

In other 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 value of $146,212.50. Following the sale, the chief operating officer now owns 76,469 shares of the company’s stock, valued at $1,433,793.75. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders sold 12,556 shares of company stock valued at $239,567 in the last ninety days. 6.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Bandwidth

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of 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 purchasing an additional 43,411 shares during the last quarter. Palogic Value Management L.P. lifted its stake in Bandwidth by 17.0% in the fourth 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 last quarter. G2 Investment Partners Management LLC bought a new position in shares of Bandwidth in the 4th quarter valued at about $4,079,000. Parcion Private Wealth LLC raised 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 valued at $3,132,000 after purchasing an additional 2,153 shares during the period. Finally, Hussman Strategic Advisors Inc. grew its holdings in Bandwidth by 366.7% during the fourth quarter. Hussman Strategic Advisors Inc. now owns 147,000 shares of the company’s stock worth $2,127,000 after purchasing an additional 115,500 shares during the period. 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.