Bandwidth (NASDAQ:BAND) Shares Up 5.7%

Bandwidth Inc. (NASDAQ:BAND)’s stock price shot up 5.7% on Monday . The company traded as high as $20.41 and last traded at $20.36. 104,321 shares changed hands during trading, a decline of 69% from the average session volume of 332,946 shares. The stock had previously closed at $19.26.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on BAND. Canaccord Genuity Group upped their target price on Bandwidth from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday. KeyCorp upped their price target on Bandwidth from $21.00 to $32.00 and gave the stock an “overweight” rating in a report on Wednesday. Barclays upped their price target on Bandwidth from $22.00 to $28.00 and gave the stock an “overweight” rating in a report on Wednesday. JMP Securities upped their price target on Bandwidth from $32.00 to $36.00 and gave the stock a “market outperform” rating in a report on Wednesday. Finally, Robert W. Baird upped their price target on Bandwidth from $21.00 to $25.00 and gave the stock a “neutral” rating in a report on Wednesday. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $25.38.

Bandwidth Price Performance

The company has a debt-to-equity ratio of 1.41, a quick ratio of 2.06 and a current ratio of 2.06. The company has a market cap of $555.61 million, a P/E ratio of -20.14 and a beta of 1.44. The firm has a 50 day moving average price of $18.64 and a two-hundred day moving average price of $14.89.

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 the consensus estimate of $0.24 by ($0.01). The firm had revenue of $165.00 million for the quarter, compared to the consensus estimate of $154.17 million. Bandwidth had a negative return on equity of 3.10% and a negative net margin of 2.72%. The firm’s revenue was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.04 EPS. On average, analysts predict that Bandwidth Inc. will post 0.19 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, COO Anthony Bartolo sold 7,798 shares of the company’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $18.75, for a total transaction of $146,212.50. Following the sale, the chief operating officer now directly owns 76,469 shares in the company, valued at $1,433,793.75. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders sold a total of 12,556 shares of company stock worth $239,567 in the last quarter. 6.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. DekaBank Deutsche Girozentrale bought a new position in Bandwidth in the 3rd quarter worth about $75,000. Headlands Technologies LLC increased its position in shares of Bandwidth by 21.3% in the third quarter. Headlands Technologies LLC now owns 9,315 shares of the company’s stock worth $105,000 after purchasing an additional 1,636 shares during the last quarter. Raymond James & Associates purchased a new stake in Bandwidth in the third quarter valued at approximately $115,000. Quest Partners LLC bought a new stake in Bandwidth during the fourth quarter valued at approximately $145,000. Finally, Oak Harbor Wealth Partners LLC purchased a new position in Bandwidth in the 4th quarter worth approximately $224,000. Institutional investors own 68.53% of the company’s stock.

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.