Bandwidth (NASDAQ:BAND) Price Target Lowered to $22.00 at Barclays

Bandwidth (NASDAQ:BAND - Free Report) had its price objective cut by Barclays from $25.00 to $22.00 in a report released on Friday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other research analysts have also commented on BAND. Needham & Company LLC reiterated a "hold" rating on shares of Bandwidth in a research report on Friday, November 1st. Morgan Stanley lifted their target price on Bandwidth from $17.00 to $18.00 and gave the stock an "underweight" rating in a report on Wednesday, December 18th. Finally, Robert W. Baird increased their price target on Bandwidth from $19.00 to $22.00 and gave the company a "neutral" rating in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $28.33.

Bandwidth Price Performance

BAND stock traded down $0.20 during mid-day trading on Friday, hitting $16.75. The company had a trading volume of 357,430 shares, compared to its average volume of 307,059. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.90. The company has a market capitalization of $460.79 million, a price-to-earnings ratio of -29.39 and a beta of 1.54. Bandwidth has a 12-month low of $11.90 and a 12-month high of $25.02. The company has a 50-day moving average price of $17.39 and a 200 day moving average price of $17.88.

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

Insider Buying and Selling at Bandwidth

In other Bandwidth news, General Counsel Richard Brandon Asbill sold 5,561 shares of the firm's stock in a transaction on Friday, November 29th. The stock was sold at an average price of $21.26, for a total value of $118,226.86. Following the transaction, the general counsel now owns 41,825 shares in the company, valued at approximately $889,199.50. This trade represents a 11.74 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO David A. Morken sold 2,777 shares of the company's stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $17.39, for a total value of $48,292.03. Following the completion of the sale, the chief executive officer now owns 109,783 shares of the company's stock, valued at $1,909,126.37. This trade represents a 2.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 51,417 shares of company stock valued at $1,063,184. 6.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Covestor Ltd acquired a new stake in Bandwidth in the fourth quarter valued at $25,000. Quarry LP increased its stake in shares of Bandwidth by 157.6% during the third quarter. Quarry LP now owns 2,035 shares of the company's stock worth $36,000 after acquiring an additional 1,245 shares during the period. New Age Alpha Advisors LLC acquired a new stake in shares of Bandwidth in the 4th quarter valued at approximately $50,000. SBI Securities Co. Ltd. purchased a new position in Bandwidth in the fourth quarter valued at about $69,000. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Bandwidth during the 3rd quarter valued at approximately $74,000. 68.53% of the stock is currently owned by hedge funds and other 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.