Bandwidth (NASDAQ:BAND) Shares Gap Up to $65.83

Bandwidth Inc. (NASDAQ:BAND)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $65.83, but opened at $69.54. Bandwidth shares last traded at $71.60, with a volume of 1,474 shares.

Several research firms have issued reports on BAND. Robert W. Baird cut their price objective on Bandwidth from $180.00 to $140.00 and set an “outperform” rating for the company in a research report on Wednesday, October 27th. Barclays began coverage on Bandwidth in a research report on Wednesday, October 20th. They issued an “overweight” rating and a $160.00 price objective for the company. cut their price objective on Bandwidth from $210.00 to $150.00 and set a “buy” rating for the company in a research report on Tuesday, November 9th. KeyCorp cut their price objective on Bandwidth from $132.00 to $106.00 and set an “overweight” rating for the company in a research report on Friday. Finally, Needham & Company LLC cut their price objective on Bandwidth from $155.00 to $130.00 and set a “buy” rating for the company in a research report on Tuesday, November 9th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $141.60.

The stock has a market cap of $1.71 billion, a PE ratio of -43.01, a PEG ratio of 86.81 and a beta of 0.46. The business has a 50-day moving average of $71.50 and a 200 day moving average of $97.32. The company has a debt-to-equity ratio of 1.12, a quick ratio of 3.95 and a current ratio of 3.95.

Bandwidth (NASDAQ:BAND) last posted its quarterly earnings data on Monday, November 8th. The company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.17. Bandwidth had a positive return on equity of 3.11% and a negative net margin of 8.19%. The firm had revenue of $130.64 million during the quarter, compared to analysts’ expectations of $126.08 million. During the same quarter last year, the business posted $0.14 EPS. The firm’s quarterly revenue was up 54.1% compared to the same quarter last year. Equities analysts expect that Bandwidth Inc. will post 0.18 EPS for the current fiscal year.

In other Bandwidth news, VP Gabriela Gonzalez sold 864 shares of the firm’s stock in a transaction dated Monday, January 3rd. The stock was sold at an average price of $72.66, for a total value of $62,778.24. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Lukas M. Roush sold 584 shares of the firm’s stock in a transaction dated Monday, November 22nd. The stock was sold at an average price of $67.74, for a total value of $39,560.16. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,025 shares of company stock worth $145,820. 11.05% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. First Horizon Advisors Inc. lifted its stake in shares of Bandwidth by 772.0% in the 3rd quarter. First Horizon Advisors Inc. now owns 218 shares of the company’s stock valued at $26,000 after purchasing an additional 193 shares in the last quarter. FORA Capital LLC acquired a new position in shares of Bandwidth in the 2nd quarter valued at about $43,000. Private Capital Group LLC lifted its stake in shares of Bandwidth by 179.6% in the 3rd quarter. Private Capital Group LLC now owns 439 shares of the company’s stock valued at $40,000 after purchasing an additional 282 shares in the last quarter. Baillie Gifford & Co. lifted its stake in shares of Bandwidth by 39.1% in the 3rd quarter. Baillie Gifford & Co. now owns 448 shares of the company’s stock valued at $41,000 after purchasing an additional 126 shares in the last quarter. Finally, First Mercantile Trust Co. lifted its stake in shares of Bandwidth by 74.7% in the 2nd quarter. First Mercantile Trust Co. now owns 678 shares of the company’s stock valued at $94,000 after purchasing an additional 290 shares in the last quarter. 96.50% of the stock is currently owned by institutional investors and hedge funds.

About Bandwidth (NASDAQ:BAND)

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.

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