Bandwidth (NASDAQ:BAND) Given New $36.00 Price Target at JMP Securities

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

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

Bandwidth Trading Down 6.2 %

Shares of BAND opened at $21.15 on Wednesday. The firm has a market cap of $555.61 million, a P/E ratio of -20.14 and a beta of 1.44. The company has a debt-to-equity ratio of 1.41, a current ratio of 2.06 and a quick ratio of 2.06. Bandwidth has a 1 year low of $9.34 and a 1 year high of $25.02. The company has a 50 day simple moving average of $18.64 and a two-hundred day simple moving average of $14.89.

Bandwidth (NASDAQ:BAND) last posted its earnings results on Wednesday, February 28th. The company reported $0.23 earnings per share 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 analysts’ expectations of $154.17 million. Bandwidth had a negative net margin of 2.72% and a negative return on equity of 3.10%. The business’s revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.04 earnings per share. On average, equities analysts expect that Bandwidth will post 0.19 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Bandwidth news, COO Anthony Bartolo sold 7,798 shares of Bandwidth stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $18.75, for a total transaction 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 approximately $1,433,793.75. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold 12,556 shares of company stock worth $239,567 in the last three months. Corporate insiders own 6.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Raymond James & Associates bought a new stake in Bandwidth during the 3rd quarter valued at $115,000. Hussman Strategic Advisors Inc. purchased a new stake in shares of Bandwidth during the third quarter valued at about $355,000. Swiss National Bank lifted 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 valued at $585,000 after buying an additional 1,500 shares during the last quarter. Campbell & CO Investment Adviser LLC bought a new stake in shares of Bandwidth in the 3rd quarter valued at about $388,000. Finally, Headlands Technologies LLC grew its position in shares of Bandwidth by 21.3% in the 3rd quarter. Headlands Technologies LLC now owns 9,315 shares of the company’s stock worth $105,000 after buying an additional 1,636 shares during the last quarter. Hedge funds and other institutional investors 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.