Bandwidth (NASDAQ:BAND) Price Target Raised to $32.00 at KeyCorp

Bandwidth (NASDAQ:BAND) had its price objective increased by equities researchers at KeyCorp from $21.00 to $32.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. KeyCorp’s price target would indicate a potential upside of 48.70% from the stock’s current price.

A number of other brokerages have also weighed in on BAND. Canaccord Genuity Group raised their target price on shares of Bandwidth from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday. Barclays boosted their price objective on Bandwidth from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. Finally, Robert W. Baird increased their target price on Bandwidth from $21.00 to $25.00 and gave the company a “neutral” rating in a research report on Wednesday. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Bandwidth currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.38.

Bandwidth Trading Up 1.7 %

Shares of BAND opened at $21.52 on Wednesday. The company has a debt-to-equity ratio of 1.41, a quick ratio of 2.06 and a current ratio of 2.06. Bandwidth has a 52-week low of $9.34 and a 52-week high of $25.02. The firm has a market cap of $565.35 million, a price-to-earnings ratio of -19.21 and a beta of 1.44. The business’s fifty day moving average is $18.65 and its 200-day moving average is $14.94.

Bandwidth (NASDAQ:BAND) last released its quarterly earnings data 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). Bandwidth had a negative net margin of 2.72% and a negative return on equity of 3.10%. The business had revenue of $165.00 million during the quarter, compared to analyst estimates of $154.17 million. During the same period last year, the business earned $0.04 earnings per share. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. Equities analysts anticipate that Bandwidth will post 0.19 EPS for the current fiscal year.

Insider Buying and Selling

In other Bandwidth 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 value of $146,212.50. Following the sale, the chief operating officer now owns 76,469 shares in the company, valued at approximately $1,433,793.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 12,556 shares of company stock valued at $239,567 in the last three months. Insiders own 6.20% of the company’s stock.

Hedge Funds Weigh In On Bandwidth

A number of hedge funds and other institutional investors have recently made changes to their positions in BAND. DekaBank Deutsche Girozentrale bought a new position in Bandwidth during the 3rd quarter worth approximately $75,000. Headlands Technologies LLC increased its position in shares of Bandwidth by 21.3% during the third quarter. Headlands Technologies LLC now owns 9,315 shares of the company’s stock worth $105,000 after buying an additional 1,636 shares during the period. Raymond James & Associates bought a new position in Bandwidth during the third quarter worth $115,000. Quest Partners LLC acquired a new position in Bandwidth in the fourth quarter valued at $145,000. Finally, Oak Harbor Wealth Partners LLC bought a new stake in Bandwidth during the fourth quarter valued at $224,000. 68.53% of the stock is owned by institutional investors and hedge funds.

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.