Barclays Cuts Bandwidth (NASDAQ:BAND) Price Target to $45.00

Bandwidth (NASDAQ:BANDGet Rating) had its price objective dropped by Barclays from $80.00 to $45.00 in a research note issued on Tuesday, The Fly reports. Barclays‘s price target suggests a potential upside of 67.47% from the company’s current price.

Several other equities analysts also recently commented on the company. Needham & Company LLC cut their target price on Bandwidth from $130.00 to $45.00 and set a “buy” rating for the company in a research report on Friday, February 25th. Canaccord Genuity Group dropped their price target on Bandwidth from $150.00 to $86.00 and set a “buy” rating for the company in a report on Thursday, February 24th. Robert W. Baird dropped their price target on Bandwidth from $200.00 to $48.00 in a report on Thursday, February 24th. JMP Securities lowered their target price on Bandwidth from $206.00 to $100.00 and set an “outperform” rating for the company in a research note on Thursday, February 24th. Finally, Canaccord Genuity Group lowered their target price on Bandwidth from $150.00 to $86.00 and set a “buy” rating for the company in a research note on Thursday, February 24th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $84.07.

Shares of BAND stock opened at $26.87 on Tuesday. The stock has a 50 day moving average price of $32.51. The company has a debt-to-equity ratio of 1.18, a current ratio of 4.42 and a quick ratio of 4.42. Bandwidth has a 12 month low of $24.01 and a 12 month high of $145.97. The company has a market cap of $677.34 million, a P/E ratio of -24.43 and a beta of 0.72.

Bandwidth (NASDAQ:BANDGet Rating) last announced its quarterly earnings data on Tuesday, February 22nd. The company reported $0.09 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.13) by $0.22. The company had revenue of $126.00 million during the quarter, compared to the consensus estimate of $118.18 million. Bandwidth had a positive return on equity of 2.80% and a negative net margin of 5.57%. The company’s quarterly revenue was up 11.5% on a year-over-year basis. During the same quarter last year, the company earned $0.06 EPS. On average, equities analysts expect that Bandwidth will post -0.42 EPS for the current year.

In other news, Director Brian D. Bailey acquired 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 8th. The stock was acquired at an average cost of $27.43 per share, for a total transaction of $274,300.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Gabriela Gonzalez sold 863 shares of the stock in a transaction dated Tuesday, February 22nd. The stock was sold at an average price of $50.73, for a total value of $43,779.99. The disclosure for this sale can be found here. Insiders purchased 21,135 shares of company stock valued at $616,629 in the last quarter. 11.05% of the stock is currently owned by corporate insiders.

Large investors have recently bought and sold shares of the stock. First Horizon Advisors Inc. grew its holdings in shares of Bandwidth by 772.0% during the third quarter. First Horizon Advisors Inc. now owns 218 shares of the company’s stock worth $26,000 after buying an additional 193 shares in the last quarter. Orion Capital Management LLC boosted its position in Bandwidth by 100.0% during the fourth quarter. Orion Capital Management LLC now owns 400 shares of the company’s stock valued at $29,000 after purchasing an additional 200 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in Bandwidth by 270.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 740 shares of the company’s stock valued at $46,000 after purchasing an additional 540 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in Bandwidth during the third quarter valued at approximately $104,000. Finally, Ensign Peak Advisors Inc acquired a new position in Bandwidth during the fourth quarter valued at approximately $244,000. Institutional investors and hedge funds own 99.14% of the company’s stock.

About Bandwidth (Get Rating)

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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