Bandwidth (NASDAQ:BAND) Price Target Raised to $25.00 at Robert W. Baird

Bandwidth (NASDAQ:BAND) had its price objective hoisted by Robert W. Baird from $21.00 to $25.00 in a report released on Wednesday morning, Benzinga reports. Robert W. Baird currently has a neutral rating on the stock.

Other equities analysts have also issued research reports about the stock. Barclays raised their price objective on shares of Bandwidth from $20.00 to $22.00 and gave the company an overweight rating in a research report on Thursday, February 29th. Canaccord Genuity Group raised 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. Finally, KeyCorp increased their price objective on Bandwidth from $16.00 to $21.00 and gave the company an overweight rating in a research report on Thursday, February 29th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Bandwidth currently has a consensus rating of Moderate Buy and a consensus price target of $25.38.

Bandwidth Price Performance

Shares of NASDAQ:BAND opened at $21.15 on Wednesday. The stock has a market cap of $555.61 million, a price-to-earnings 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 12 month low of $9.34 and a 12 month high of $25.02. The stock’s 50 day moving average price is $18.64 and its 200 day moving average price is $14.89.

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

Insider Buying and Selling

In other news, COO Anthony Bartolo sold 7,798 shares of the stock in a transaction 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 completion of the sale, the chief operating officer now owns 76,469 shares in the company, valued at $1,433,793.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders sold 12,556 shares of company stock valued at $239,567. Company insiders own 6.20% of the company’s stock.

Institutional Trading of Bandwidth

A number of hedge funds have recently made changes to their positions in the stock. DekaBank Deutsche Girozentrale purchased a new position in Bandwidth during the third quarter valued at approximately $75,000. Swiss National Bank grew its holdings in shares of Bandwidth by 3.0% during the 3rd quarter. Swiss National Bank now owns 51,900 shares of the company’s stock valued at $585,000 after acquiring an additional 1,500 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Bandwidth by 3.0% in the third quarter. Vanguard Group Inc. now owns 1,480,343 shares of the company’s stock worth $16,683,000 after acquiring an additional 43,411 shares during the last quarter. Dark Forest Capital Management LP raised its holdings in shares of Bandwidth by 59.7% during the third quarter. Dark Forest Capital Management LP now owns 52,331 shares of the company’s stock worth $590,000 after acquiring an additional 19,563 shares in the last quarter. Finally, Hussman Strategic Advisors Inc. acquired a new stake in Bandwidth during the third quarter valued at $355,000. 68.53% of the stock is owned by hedge funds and other institutional investors.

About Bandwidth

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.