Bandwidth Inc. (NASDAQ:BAND - Get Free Report)'s stock price gapped up prior to trading on Thursday . The stock had previously closed at $18.84, but opened at $22.88. Bandwidth shares last traded at $21.63, with a volume of 176,031 shares trading hands.
Analyst Upgrades and Downgrades
BAND has been the topic of a number of recent analyst reports. Needham & Company LLC reissued a "hold" rating on shares of Bandwidth in a research note on Friday, August 2nd. JMP Securities reaffirmed a "market outperform" rating and issued a $36.00 target price on shares of Bandwidth in a research report on Tuesday, August 27th. Barclays decreased their target price on Bandwidth from $28.00 to $25.00 and set an "overweight" rating for the company in a research report on Friday, August 2nd. Finally, Robert W. Baird decreased their target price on Bandwidth from $25.00 to $19.00 and set a "neutral" rating for the company in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $25.71.
Check Out Our Latest Research Report on BAND
Bandwidth Price Performance
The business has a 50 day moving average price of $17.41 and a two-hundred day moving average price of $18.26. The stock has a market cap of $532.31 million, a PE ratio of -17.68 and a beta of 1.51. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.16 and a current ratio of 1.16.
Bandwidth (NASDAQ:BAND - Get Free Report) last announced its earnings results on Thursday, August 1st. The company reported $0.29 earnings per share for the quarter, topping analysts' consensus estimates of $0.28 by $0.01. The firm had revenue of $174.00 million for the quarter, compared to the consensus estimate of $173.18 million. Bandwidth had a negative return on equity of 1.89% and a negative net margin of 3.21%. The company's revenue was up 19.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.09) EPS. Research analysts expect that Bandwidth Inc. will post 0.11 earnings per share for the current fiscal year.
Insider Activity at Bandwidth
In other Bandwidth news, CFO Daryl Raiford sold 4,350 shares of the business's stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $16.97, for a total transaction of $73,819.50. Following the sale, the chief financial officer now owns 71,546 shares of the company's stock, valued at $1,214,135.62. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last ninety days, insiders have sold 8,525 shares of company stock worth $146,548. 6.20% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Bandwidth
Several hedge funds and other institutional investors have recently modified their holdings of BAND. Parcion Private Wealth LLC grew its position in shares of Bandwidth by 1.8% during the 3rd quarter. Parcion Private Wealth LLC now owns 228,210 shares of the company's stock valued at $3,996,000 after purchasing an additional 3,927 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Bandwidth by 185.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 341,921 shares of the company's stock valued at $5,987,000 after acquiring an additional 222,142 shares during the last quarter. nVerses Capital LLC boosted its position in shares of Bandwidth by 80.0% during the 3rd 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 last quarter. Point72 Asset Management L.P. boosted its position in shares of Bandwidth by 411.1% during the 2nd quarter. Point72 Asset Management L.P. now owns 597,933 shares of the company's stock valued at $10,093,000 after acquiring an additional 480,933 shares during the last quarter. Finally, Squarepoint Ops LLC bought a new stake in shares of Bandwidth during the 2nd quarter valued at about $1,113,000. 68.53% of the stock is currently owned by institutional investors.
About Bandwidth
(
Get Free Report)
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.
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