Bandwidth (NASDAQ:BAND) Shares Gap Up - What's Next?

Bandwidth Inc. (NASDAQ:BAND - Get Free Report) shares gapped up before the market opened on Monday . The stock had previously closed at $18.71, but opened at $19.23. Bandwidth shares last traded at $19.67, with a volume of 54,740 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on BAND. Needham & Company LLC reissued a "hold" rating on shares of Bandwidth in a research report on Friday, November 1st. JMP Securities restated a "market outperform" rating and set a $36.00 price objective on shares of Bandwidth in a report on Tuesday, August 27th. Finally, Robert W. Baird raised their price target on Bandwidth from $19.00 to $22.00 and gave the stock a "neutral" rating in a research note on Friday, November 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $28.33.

Bandwidth Stock Performance

The company has a fifty day moving average of $19.13 and a two-hundred day moving average of $18.22. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.29 and a quick ratio of 1.29. The stock has a market capitalization of $537.82 million, a P/E ratio of -20.12 and a beta of 1.51.

Bandwidth (NASDAQ:BAND - Get Free Report) last posted its earnings results on Thursday, October 31st. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.32 by $0.11. Bandwidth had a negative net margin of 2.23% and a negative return on equity of 0.89%. The firm had revenue of $193.90 million during the quarter, compared to analysts' expectations of $182.05 million. During the same quarter in the prior year, the firm earned $0.03 EPS. Bandwidth's quarterly revenue was up 27.6% on a year-over-year basis. On average, equities analysts anticipate that Bandwidth Inc. will post 0.08 EPS for the current year.

Insider Buying and Selling at Bandwidth

In other Bandwidth news, CFO Daryl Raiford sold 4,371 shares of the business's stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $20.70, for a total transaction of $90,479.70. Following the sale, the chief financial officer now directly owns 93,451 shares of the company's stock, valued at $1,934,435.70. The trade was a 4.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Richard Brandon Asbill sold 5,561 shares of Bandwidth stock in a transaction on Friday, November 29th. The shares were 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 $889,199.50. This represents a 11.74 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 44,733 shares of company stock valued at $948,310. 6.20% of the stock is owned by corporate insiders.

Institutional Trading of Bandwidth

A number of institutional investors have recently bought and sold shares of BAND. Innealta Capital LLC acquired a new stake in shares of Bandwidth in the 2nd quarter valued at $30,000. nVerses Capital LLC increased its stake in Bandwidth by 80.0% in the third quarter. nVerses Capital LLC now owns 1,800 shares of the company's stock valued at $32,000 after acquiring an additional 800 shares during the period. Redwood Wealth Management Group LLC acquired a new stake in Bandwidth in the 2nd quarter valued at $35,000. Quarry LP lifted its holdings in shares of Bandwidth by 157.6% during the third quarter. Quarry LP now owns 2,035 shares of the company's stock valued at $36,000 after acquiring an additional 1,245 shares during the period. Finally, Daiwa Securities Group Inc. acquired a new stake in shares of Bandwidth in the 2nd quarter valued at $57,000. Institutional investors and hedge funds own 68.53% of the company's stock.

Bandwidth Company Profile

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.