Bandwidth (NASDAQ:BAND) Earns “Market Outperform” Rating from JMP Securities

JMP Securities reiterated their market outperform rating on shares of Bandwidth (NASDAQ:BAND) in a research report report published on Tuesday morning, Benzinga reports. They currently have a $36.00 target price on the stock.

A number of other brokerages have also recently issued reports on BAND. Barclays dropped their price objective on Bandwidth from $28.00 to $25.00 and set an overweight rating on the stock in a research note on Friday, August 2nd. Robert W. Baird decreased their price objective on shares of Bandwidth from $25.00 to $19.00 and set a neutral rating for the company in a research report on Friday, August 2nd. Canaccord Genuity Group upped their target price on shares of Bandwidth from $38.00 to $40.00 and gave the company a buy rating in a report on Wednesday, May 8th. Morgan Stanley cut Bandwidth from an equal weight rating to an underweight rating and reduced their price target for the stock from $18.00 to $15.00 in a report on Friday, June 14th. Finally, KeyCorp boosted their price target on Bandwidth from $21.00 to $32.00 and gave the stock an overweight rating in a research report on Wednesday, May 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Hold and an average price target of $25.71.

Bandwidth Price Performance

NASDAQ BAND opened at $17.58 on Tuesday. The firm’s 50 day moving average is $17.79 and its 200-day moving average is $18.18. The company has a quick ratio of 2.36, a current ratio of 2.36 and a debt-to-equity ratio of 1.41. The company has a market capitalization of $474.80 million, a PE ratio of -15.70 and a beta of 1.48. Bandwidth has a 12-month low of $9.34 and a 12-month high of $25.02.

Bandwidth (NASDAQ:BAND) last released its earnings results on Thursday, August 1st. The company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.01. Bandwidth had a negative net margin of 3.21% and a negative return on equity of 1.92%. The business had revenue of $174.00 million during the quarter, compared to the consensus estimate of $173.18 million. During the same quarter last year, the firm earned ($0.09) earnings per share. The firm’s revenue for the quarter was up 19.2% compared to the same quarter last year. Equities research analysts anticipate that Bandwidth will post 0.16 earnings per share for the current fiscal year.

Insider Buying and Selling at Bandwidth

In other Bandwidth news, CFO Daryl Raiford sold 7,600 shares of Bandwidth stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $20.80, for a total value of $158,080.00. Following the completion of the sale, the chief financial officer now owns 60,476 shares in the company, valued at approximately $1,257,900.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Kade Ross sold 3,500 shares of the business’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $16.92, for a total value of $59,220.00. Following the completion of the transaction, the insider now owns 23,322 shares of the company’s stock, valued at $394,608.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Daryl Raiford sold 7,600 shares of the business’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $20.80, for a total value of $158,080.00. Following the completion of the transaction, the chief financial officer now directly owns 60,476 shares of the company’s stock, valued at approximately $1,257,900.80. The disclosure for this sale can be found here. Insiders have sold a total of 17,044 shares of company stock valued at $329,336 in the last ninety days. 6.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of BAND. Janney Montgomery Scott LLC raised its stake in Bandwidth by 25.2% during the fourth quarter. Janney Montgomery Scott LLC now owns 73,235 shares of the company’s stock worth $1,060,000 after acquiring an additional 14,752 shares in the last quarter. Panagora Asset Management Inc. bought a new stake in shares of Bandwidth during the fourth quarter worth about $471,000. Quest Partners LLC bought a new stake in shares of Bandwidth during the fourth quarter worth about $145,000. Oak Harbor Wealth Partners LLC bought a new stake in shares of Bandwidth during the fourth quarter worth about $224,000. Finally, Olympiad Research LP grew its holdings in shares of Bandwidth by 65.4% during the fourth quarter. Olympiad Research LP now owns 16,917 shares of the company’s stock worth $245,000 after purchasing an additional 6,686 shares during the last quarter. Institutional investors and hedge funds own 68.53% of the company’s stock.

Bandwidth Company Profile

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.