Bandwidth (NASDAQ:BAND) Price Target Raised to $22.00 at Robert W. Baird

Bandwidth (NASDAQ:BAND) had its price target increased by Robert W. Baird from $19.00 to $22.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Robert W. Baird’s price target indicates a potential upside of 10.55% from the company’s current price.

Other equities research analysts have also recently issued reports about the company. Barclays cut their target price on Bandwidth from $28.00 to $25.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Needham & Company LLC restated a “hold” rating on shares of Bandwidth in a research report on Friday. Finally, JMP Securities restated a “market outperform” rating and issued a $36.00 price target on shares of Bandwidth in a research note on Tuesday, August 27th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $26.14.

Bandwidth Trading Up 2.1 %

NASDAQ BAND opened at $19.90 on Friday. The firm has a market capitalization of $543.27 million, a PE ratio of -17.46 and a beta of 1.51. Bandwidth has a one year low of $10.22 and a one year high of $25.02. The company has a 50-day simple moving average of $17.41 and a 200-day simple moving average of $18.26. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.16 and a current ratio of 1.16.

Bandwidth (NASDAQ:BAND) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.01. The business had revenue of $174.00 million for the quarter, compared to the consensus estimate of $173.18 million. Bandwidth had a negative return on equity of 1.89% and a negative net margin of 3.21%. The business’s revenue was up 19.2% on a year-over-year basis. During the same quarter last year, the business posted ($0.09) EPS. On average, equities analysts forecast that Bandwidth will post 0.11 earnings per share for the current year.

Insider Transactions at Bandwidth

In related news, CFO Daryl Raiford sold 4,350 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $16.97, for a total value of $73,819.50. Following the completion of the sale, the chief financial officer now owns 71,546 shares in the company, valued at approximately $1,214,135.62. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 8,525 shares of company stock valued at $146,548 over the last ninety days. Corporate insiders own 6.20% of the company’s stock.

Institutional Investors Weigh In On Bandwidth

Several hedge funds have recently bought and sold shares of BAND. Mirae Asset Global Investments Co. Ltd. lifted its position in Bandwidth by 100.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,132 shares of the company’s stock worth $386,000 after buying an additional 10,571 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of Bandwidth by 84.4% in the 1st quarter. BNP Paribas Financial Markets now owns 13,690 shares of the company’s stock valued at $250,000 after buying an additional 6,266 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in Bandwidth in the first quarter worth approximately $1,143,000. Vanguard Group Inc. raised its position in Bandwidth by 1.1% during the first quarter. Vanguard Group Inc. now owns 1,536,051 shares of the company’s stock valued at $28,048,000 after acquiring an additional 16,181 shares in the last quarter. Finally, Acadian Asset Management LLC increased its stake in shares of Bandwidth by 15.7% during the 1st quarter. Acadian Asset Management LLC now owns 341,303 shares of the company’s stock worth $6,231,000 after purchasing an additional 46,342 shares during the last quarter. 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.