Bandwidth (NASDAQ:BAND) Hits New 12-Month High at $24.65

Bandwidth Inc. (NASDAQ:BAND)’s stock price hit a new 52-week high during trading on Tuesday . The stock traded as high as $24.65 and last traded at $24.58, with a volume of 219906 shares changing hands. The stock had previously closed at $20.51.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on BAND. Canaccord Genuity Group upped their target price on shares of Bandwidth from $36.00 to $38.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. KeyCorp upped their price objective on shares of Bandwidth from $16.00 to $21.00 and gave the stock an “overweight” rating in a research note on Thursday, February 29th. Finally, Barclays lifted their target price on shares of Bandwidth from $20.00 to $22.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $20.50.

Bandwidth Price Performance

The company has a current ratio of 2.06, a quick ratio of 2.06 and a debt-to-equity ratio of 1.41. The stock has a market capitalization of $604.74 million, a P/E ratio of -23.41 and a beta of 1.44. The company has a fifty day simple moving average of $18.37 and a two-hundred day simple moving average of $14.76.

Bandwidth (NASDAQ:BAND) last posted its quarterly earnings results on Wednesday, February 28th. The company reported $0.23 earnings per share 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 business had revenue of $165.00 million for the quarter, compared to the consensus estimate of $154.17 million. During the same period last year, the firm earned $0.04 earnings per share. The company’s quarterly revenue was up 5.1% on a year-over-year basis. Sell-side analysts expect that Bandwidth Inc. will post 0.19 EPS for the current fiscal year.

Insider Buying and Selling at Bandwidth

In other Bandwidth news, COO Anthony Bartolo sold 7,798 shares of the firm’s stock in a transaction that occurred 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 directly 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 available through this hyperlink. Over the last ninety days, insiders have sold 12,556 shares of company stock valued at $239,567. 6.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Bandwidth

A number of hedge funds and other institutional investors have recently made changes to their positions in BAND. Raymond James & Associates bought a new position in shares of Bandwidth during the third quarter worth $115,000. Parcion Private Wealth LLC boosted its position in shares of Bandwidth by 3.1% during the third quarter. Parcion Private Wealth LLC now owns 214,275 shares of the company’s stock worth $2,415,000 after purchasing an additional 6,459 shares in the last quarter. Hussman Strategic Advisors Inc. bought a new position in shares of Bandwidth during the third quarter worth $355,000. Swiss National Bank boosted its position in shares of Bandwidth by 3.0% during the third quarter. Swiss National Bank now owns 51,900 shares of the company’s stock worth $585,000 after purchasing an additional 1,500 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC bought a new position in shares of Bandwidth during the third quarter worth $388,000. 68.53% of the stock is owned by 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.