Bandwidth (NASDAQ:BAND) Sets New 12-Month High at $173.00

Bandwidth Inc (NASDAQ:BAND)’s stock price hit a new 52-week high during trading on Wednesday . The company traded as high as $173.00 and last traded at $166.50, with a volume of 1065 shares trading hands. The stock had previously closed at $169.17.

BAND has been the subject of several recent research reports. BidaskClub raised Bandwidth from a “hold” rating to a “buy” rating in a research report on Thursday, September 3rd. Needham & Company LLC lifted their price objective on Bandwidth from $120.00 to $170.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Morgan Stanley raised their price target on shares of Bandwidth from $115.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Friday, July 31st. Canaccord Genuity restated a “buy” rating and set a $175.00 target price on shares of Bandwidth in a research report on Thursday, July 30th. Finally, KeyCorp increased their price target on Bandwidth from $125.00 to $175.00 and gave the stock an “overweight” rating in a research note on Friday, July 31st. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Bandwidth has an average rating of “Buy” and an average target price of $140.57.

The company has a quick ratio of 11.85, a current ratio of 11.85 and a debt-to-equity ratio of 0.87. The company has a 50 day moving average of $151.00 and a 200 day moving average of $114.03. The firm has a market cap of $4.09 billion, a price-to-earnings ratio of -165.85 and a beta of 0.80.

Bandwidth (NASDAQ:BAND) last posted its quarterly earnings data on Thursday, July 30th. The company reported $0.13 earnings per share (EPS) for the quarter. Bandwidth had a negative return on equity of 1.42% and a negative net margin of 9.21%. The company had revenue of $76.79 million for the quarter, compared to the consensus estimate of $70.44 million. As a group, equities research analysts expect that Bandwidth Inc will post -0.32 earnings per share for the current fiscal year.

In other Bandwidth news, insider Kade Ross sold 500 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $166.60, for a total value of $83,300.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO David A. Morken sold 1,577 shares of Bandwidth stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $130.56, for a total value of $205,893.12. Following the completion of the transaction, the chief executive officer now owns 2,404 shares of the company’s stock, valued at $313,866.24. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,828 shares of company stock valued at $1,287,357. 11.05% of the stock is owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Whittier Trust Co. bought a new stake in Bandwidth in the second quarter valued at $43,000. Oppenheimer Asset Management Inc. acquired a new position in Bandwidth during the 1st quarter valued at about $27,000. Liberty One Investment Management LLC bought a new position in Bandwidth in the 2nd quarter worth about $59,000. Carroll Financial Associates Inc. increased its stake in shares of Bandwidth by 563.5% in the second quarter. Carroll Financial Associates Inc. now owns 564 shares of the company’s stock valued at $71,000 after purchasing an additional 479 shares during the period. Finally, Strs Ohio bought a new stake in shares of Bandwidth during the second quarter valued at approximately $165,000. Hedge funds and other institutional investors own 89.87% of the company’s stock.

Bandwidth Company Profile (NASDAQ:BAND)

Bandwidth Inc operates as a cloud-based software-powered communications platform-as-a-service (CPaaS) provider in the United States. The company operates through two segments, CPaaS and Other. Its platform enables enterprises to create, scale, and operate voice or text communications services across mobile application or connected device.

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