Several other research firms have also issued reports on BAND. KeyCorp boosted their target price on Bandwidth from $120.00 to $125.00 and gave the stock an overweight rating in a research report on Thursday, June 11th. JMP Securities increased their target price on shares of Bandwidth from $95.00 to $99.00 and gave the stock a market outperform rating in a report on Friday, May 1st. Morgan Stanley lifted their price target on shares of Bandwidth from $95.00 to $115.00 and gave the stock an equal weight rating in a research report on Wednesday, July 22nd. William Blair initiated coverage on shares of Bandwidth in a research report on Monday, May 11th. They issued an outperform rating for the company. Finally, Zacks Investment Research lowered Bandwidth from a buy rating to a hold rating and set a $145.00 target price on the stock. in a report on Thursday, July 23rd. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of Buy and an average target price of $140.57.
Shares of NASDAQ BAND opened at $144.78 on Thursday. The company’s 50 day simple moving average is $130.29 and its 200 day simple moving average is $92.98. The company has a debt-to-equity ratio of 0.82, a current ratio of 12.89 and a quick ratio of 12.89. Bandwidth has a fifty-two week low of $42.61 and a fifty-two week high of $156.99. The firm has a market capitalization of $3.45 billion, a P/E ratio of -141.94 and a beta of 0.80.
In other Bandwidth news, CFO Jeffrey A. Hoffman sold 10,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 21,366 shares of the company’s stock, valued at approximately $2,027,419.74. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO David A. Morken sold 87,870 shares of the firm’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $127.69, for a total transaction of $11,220,120.30. Following the transaction, the chief executive officer now directly owns 64,066 shares of the company’s stock, valued at $8,180,587.54. The disclosure for this sale can be found here. Insiders sold a total of 147,271 shares of company stock worth $17,862,643 over the last ninety days. 11.05% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in BAND. US Bancorp DE increased its stake in Bandwidth by 69.3% in the 1st quarter. US Bancorp DE now owns 1,657 shares of the company’s stock valued at $111,000 after buying an additional 678 shares during the last quarter. Nuveen Asset Management LLC boosted its stake in shares of Bandwidth by 9.8% during the 1st quarter. Nuveen Asset Management LLC now owns 86,006 shares of the company’s stock worth $5,788,000 after buying an additional 7,674 shares during the last quarter. Paloma Partners Management Co acquired a new stake in shares of Bandwidth in the first quarter valued at about $494,000. Geode Capital Management LLC increased its position in shares of Bandwidth by 22.9% in the first quarter. Geode Capital Management LLC now owns 257,712 shares of the company’s stock valued at $17,341,000 after acquiring an additional 48,099 shares during the last quarter. Finally, BNP Paribas Arbitrage SA raised its holdings in Bandwidth by 124.4% during the first quarter. BNP Paribas Arbitrage SA now owns 6,904 shares of the company’s stock worth $465,000 after acquiring an additional 3,827 shares in the last quarter. Institutional investors and hedge funds own 84.67% of the company’s stock.
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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