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

Bandwidth (NASDAQ:BAND)‘s stock had its “market outperform” rating restated by JMP Securities in a research report issued on Thursday,Benzinga reports. They currently have a $36.00 target price on the stock. JMP Securities’ price target points to a potential upside of 148.96% from the stock’s current price.

A number of other equities analysts have also recently commented on BAND. William Blair reissued an “outperform” rating on shares of Bandwidth in a research note on Friday, February 21st. Needham & Company LLC started coverage on shares of Bandwidth in a research note on Wednesday, May 7th. They issued a “buy” rating and a $20.00 price target for the company. Morgan Stanley cut their price target on shares of Bandwidth from $18.00 to $11.00 and set an “underweight” rating for the company in a research note on Wednesday, April 16th. Barclays cut their price target on shares of Bandwidth from $25.00 to $22.00 and set an “overweight” rating for the company in a research note on Friday, February 21st. Finally, Robert W. Baird lowered their price objective on shares of Bandwidth from $20.00 to $15.00 and set a “neutral” rating for the company in a report on Thursday, May 8th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.80.

Bandwidth Price Performance

Shares of NASDAQ:BAND opened at $14.46 on Thursday. The company has a 50 day moving average of $13.31 and a 200 day moving average of $16.40. The stock has a market cap of $413.90 million, a P/E ratio of -25.37 and a beta of 1.88. Bandwidth has a 12 month low of $11.33 and a 12 month high of $23.90. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.90.

Bandwidth (NASDAQ:BAND) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.29 by $0.07. The company had revenue of $174.24 million during the quarter, compared to analysts’ expectations of $168.96 million. Bandwidth had a negative net margin of 0.87% and a positive return on equity of 0.53%. Bandwidth’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.27 earnings per share. As a group, sell-side analysts forecast that Bandwidth will post 0.22 EPS for the current fiscal year.

Insider Transactions at Bandwidth

In related news, insider Devin M. Krupka sold 3,770 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $15.70, for a total transaction of $59,189.00. Following the completion of the sale, the insider now directly owns 19,188 shares in the company, valued at $301,251.60. This represents a 16.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Daryl Raiford sold 24,253 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $15.58, for a total transaction of $377,861.74. Following the sale, the chief financial officer now owns 113,795 shares of the company’s stock, valued at $1,772,926.10. This represents a 17.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 63,721 shares of company stock worth $992,965. 6.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Bandwidth

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Covestor Ltd bought a new position in Bandwidth in the 4th quarter worth $25,000. New Age Alpha Advisors LLC bought a new position in Bandwidth in the 4th quarter worth $50,000. SBI Securities Co. Ltd. bought a new position in Bandwidth in the 4th quarter worth $69,000. US Bancorp DE raised its holdings in Bandwidth by 11,281.3% in the 1st quarter. US Bancorp DE now owns 5,463 shares of the company’s stock worth $72,000 after purchasing an additional 5,415 shares in the last quarter. Finally, Harbor Capital Advisors Inc. bought a new position in Bandwidth in the 1st quarter worth $72,000. 68.53% of the stock is currently owned by institutional investors.

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.