Bandwidth (NASDAQ:BAND) announced its earnings results on Thursday. The company reported $0.13 earnings per share (EPS) for the quarter, MarketWatch Earnings reports. Bandwidth had a negative net margin of 9.21% and a negative return on equity of 1.45%. The firm had revenue of $76.79 million for the quarter, compared to analysts’ expectations of $70.44 million.
Shares of NASDAQ BAND opened at $144.78 on Friday. Bandwidth has a one year low of $42.61 and a one year high of $156.99. The company has a debt-to-equity ratio of 0.82, a quick ratio of 12.89 and a current ratio of 12.89. The firm has a fifty day moving average of $130.29 and a 200 day moving average of $92.98. The firm has a market cap of $3.45 billion, a PE ratio of -141.94 and a beta of 0.80.
In other Bandwidth news, CFO Jeffrey A. Hoffman sold 10,000 shares of the business’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $94.89, for a total transaction of $948,900.00. Following the transaction, the chief financial officer now owns 21,366 shares of the company’s stock, valued at $2,027,419.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John C. Murdock sold 250 shares of the firm’s stock in a transaction on Monday, July 6th. The stock was sold at an average price of $131.90, for a total value of $32,975.00. Following the completion of the sale, the director now directly owns 141,381 shares of the company’s stock, valued at $18,648,153.90. The disclosure for this sale can be found here. Insiders have sold 147,271 shares of company stock valued at $17,862,643 in the last three months. Insiders own 11.05% of the company’s stock.
Several research firms have recently weighed in on BAND. Morgan Stanley boosted their target price on Bandwidth from $115.00 to $120.00 and gave the company an “equal weight” rating in a research report on Friday. BidaskClub upgraded shares of Bandwidth from a “buy” rating to a “strong-buy” rating in a research report on Thursday. KeyCorp raised their target price on shares of Bandwidth from $125.00 to $175.00 and gave the stock an “overweight” rating in a report on Friday. Needham & Company LLC lifted their price target on shares of Bandwidth from $120.00 to $170.00 and gave the stock a “buy” rating in a research note on Friday. Finally, William Blair began coverage on Bandwidth in a report on Monday, May 11th. They issued an “outperform” rating on the stock. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $140.57.
Bandwidth Company Profile
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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