Morgan Stanley Issues Pessimistic Forecast for Bandwidth (NASDAQ:BAND) Stock Price

Bandwidth (NASDAQ:BAND - Get Free Report) had its target price decreased by Morgan Stanley from $18.00 to $11.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an "underweight" rating on the stock. Morgan Stanley's target price points to a potential downside of 6.94% from the stock's previous close.

Other research analysts have also issued research reports about the company. Needham & Company LLC restated a "hold" rating on shares of Bandwidth in a report on Friday, February 21st. William Blair restated an "outperform" rating on shares of Bandwidth in a research note on Friday, February 21st. Finally, Barclays lowered their target price on shares of Bandwidth from $25.00 to $22.00 and set an "overweight" rating for the company in a report on Friday, February 21st. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $27.17.

Bandwidth Stock Down 2.6 %

NASDAQ BAND traded down $0.32 on Wednesday, hitting $11.82. 214,256 shares of the company were exchanged, compared to its average volume of 288,650. The company has a market cap of $338.34 million, a PE ratio of -20.74 and a beta of 1.89. The stock has a fifty day moving average of $14.78 and a 200-day moving average of $17.04. 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 has a 12 month low of $11.47 and a 12 month high of $25.02.

Bandwidth (NASDAQ:BAND - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.02 earnings per share for the quarter, missing analysts' consensus estimates of $0.38 by ($0.36). Bandwidth had a positive return on equity of 0.53% and a negative net margin of 0.87%. The firm had revenue of $209.97 million for the quarter, compared to analyst estimates of $203.68 million. During the same period last year, the company posted $0.38 earnings per share. As a group, analysts forecast that Bandwidth will post 0.22 earnings per share for the current year.

Insider Transactions at Bandwidth

In other Bandwidth news, General Counsel Richard Brandon Asbill sold 9,878 shares of the firm's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $15.24, for a total value of $150,540.72. Following the completion of the transaction, the general counsel now owns 42,475 shares in the company, valued at $647,319. This trade represents a 18.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David A. Morken sold 13,653 shares of Bandwidth stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $15.70, for a total value of $214,352.10. Following the transaction, the chief executive officer now directly owns 142,439 shares of the company's stock, valued at $2,236,292.30. The trade was a 8.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 64,220 shares of company stock valued at $1,000,954 over the last three months. Company insiders own 6.20% of the company's stock.

Hedge Funds Weigh In On Bandwidth

Institutional investors have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Bandwidth by 4.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,185 shares of the company's stock valued at $241,000 after buying an additional 608 shares in the last quarter. Dynamic Technology Lab Private Ltd grew its holdings in Bandwidth by 1.6% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 43,366 shares of the company's stock worth $738,000 after purchasing an additional 699 shares during the period. Rhumbline Advisers increased its stake in shares of Bandwidth by 3.7% during the first quarter. Rhumbline Advisers now owns 35,603 shares of the company's stock valued at $466,000 after purchasing an additional 1,255 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of Bandwidth by 14.5% during the fourth quarter. SG Americas Securities LLC now owns 11,102 shares of the company's stock valued at $189,000 after purchasing an additional 1,407 shares during the last quarter. Finally, Covestor Ltd bought a new stake in shares of Bandwidth in the 4th quarter worth approximately $25,000. 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.