Bandwidth (NASDAQ:BAND) Stock Rating Lowered by Morgan Stanley

Morgan Stanley cut shares of Bandwidth (NASDAQ:BANDFree Report) from an equal weight rating to an underweight rating in a research note published on Friday morning, MarketBeat reports. Morgan Stanley currently has $15.00 price objective on the stock, down from their previous price objective of $18.00.

BAND has been the topic of a number of other reports. Needham & Company LLC restated a hold rating on shares of Bandwidth in a research note on Friday, May 10th. Canaccord Genuity Group lifted their price target on Bandwidth from $38.00 to $40.00 and gave the company a buy rating in a research note on Wednesday, May 8th. Robert W. Baird lifted their price target on Bandwidth from $21.00 to $25.00 and gave the company a neutral rating in a research note on Wednesday, May 8th. JMP Securities lifted their price target on Bandwidth from $32.00 to $36.00 and gave the company a market outperform rating in a research note on Wednesday, May 8th. Finally, KeyCorp lifted their price target on Bandwidth from $21.00 to $32.00 and gave the company an overweight rating in a research note on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus target price of $25.63.

Get Our Latest Analysis on Bandwidth

Bandwidth Price Performance

BAND stock opened at $15.58 on Friday. The business has a 50 day moving average price of $19.58 and a 200 day moving average price of $16.72. The stock has a market cap of $420.78 million, a price-to-earnings ratio of -13.91 and a beta of 1.49. Bandwidth has a fifty-two week low of $9.34 and a fifty-two week high of $25.02. The company has a quick ratio of 2.36, a current ratio of 2.36 and a debt-to-equity ratio of 1.41.

Bandwidth (NASDAQ:BANDGet Free Report) last posted its earnings results on Tuesday, May 7th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.08). Bandwidth had a negative return on equity of 2.49% and a negative net margin of 4.60%. Equities research analysts anticipate that Bandwidth will post 0.22 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, COO Anthony Bartolo sold 7,798 shares of the firm’s 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 sale, the chief operating officer now 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 available at the SEC website. In related news, CFO Daryl Raiford sold 13,410 shares of the firm’s stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $20.01, for a total value of $268,334.10. Following the sale, the chief financial officer now directly owns 68,076 shares in the company, valued at approximately $1,362,200.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Anthony Bartolo sold 7,798 shares of Bandwidth 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 transaction, the chief operating officer now owns 76,469 shares in the company, valued at $1,433,793.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,073 shares of company stock valued at $722,990. Insiders own 6.20% of the company’s stock.

Hedge Funds Weigh In On Bandwidth

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted 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 acquiring an additional 16,181 shares in the last quarter. Acadian Asset Management LLC boosted its position in shares of Bandwidth by 15.7% in the first quarter. Acadian Asset Management LLC now owns 341,303 shares of the company’s stock worth $6,231,000 after buying an additional 46,342 shares during the period. Palogic Value Management L.P. boosted its position in shares of Bandwidth by 17.0% in the fourth 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 during the period. G2 Investment Partners Management LLC acquired a new stake in shares of Bandwidth in the fourth quarter worth $4,079,000. Finally, Parcion Private Wealth LLC boosted its position in shares of Bandwidth by 1.0% in the fourth quarter. Parcion Private Wealth LLC now owns 216,428 shares of the company’s stock worth $3,132,000 after buying an additional 2,153 shares during the period. 68.53% of the stock is currently owned by institutional investors and hedge funds.

About Bandwidth

(Get Free Report)

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.

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