Bandwidth’s (BAND) Outperform Rating Reiterated at William Blair

Bandwidth (NASDAQ:BAND)‘s stock had its “outperform” rating reiterated by equities research analysts at William Blair in a research note issued on Friday,RTT News reports.

A number of other equities analysts also recently issued reports on BAND. Needham & Company LLC reiterated a “hold” rating on shares of Bandwidth in a report on Friday. Barclays lowered their price objective on shares of Bandwidth from $25.00 to $22.00 and set an “overweight” rating on the stock in a research note on Friday. Morgan Stanley increased their price objective on shares of Bandwidth from $17.00 to $18.00 and gave the company an “underweight” rating in a research note on Wednesday, December 18th. Finally, Robert W. Baird increased their price objective on shares of Bandwidth from $19.00 to $22.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Bandwidth currently has an average rating of “Moderate Buy” and an average target price of $28.33.

Bandwidth Price Performance

Shares of BAND traded down $0.46 during trading hours on Friday, reaching $17.00. The company had a trading volume of 748,618 shares, compared to its average volume of 302,053. The firm has a 50 day simple moving average of $17.44 and a 200-day simple moving average of $17.84. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.83. The company has a market capitalization of $467.67 million, a price-to-earnings ratio of -18.28 and a beta of 1.54. Bandwidth has a 12-month low of $11.90 and a 12-month high of $25.02.

Bandwidth (NASDAQ:BAND) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.36). The company had revenue of $209.97 million during the quarter, compared to analysts’ expectations of $203.68 million. Bandwidth had a negative net margin of 2.23% and a negative return on equity of 0.89%. During the same quarter in the prior year, the business earned $0.38 EPS. Research analysts expect that Bandwidth will post 0.08 earnings per share for the current year.

Insider Activity at Bandwidth

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

Institutional Investors Weigh In On Bandwidth

Several hedge funds have recently modified their holdings of BAND. Assenagon Asset Management S.A. boosted its stake 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 worth $5,987,000 after purchasing an additional 222,142 shares during the last quarter. Parcion Private Wealth LLC boosted its stake 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 worth $3,996,000 after purchasing an additional 3,927 shares during the last quarter. Los Angeles Capital Management LLC boosted its stake in shares of Bandwidth by 3.6% during the 3rd quarter. Los Angeles Capital Management LLC now owns 21,221 shares of the company’s stock worth $372,000 after purchasing an additional 740 shares during the last quarter. GSA Capital Partners LLP boosted its position in shares of Bandwidth by 32.0% in the third quarter. GSA Capital Partners LLP now owns 69,986 shares of the company’s stock worth $1,225,000 after acquiring an additional 16,968 shares during the last quarter. Finally, Thrivent Financial for Lutherans boosted its position in shares of Bandwidth by 27.8% in the third quarter. Thrivent Financial for Lutherans now owns 75,575 shares of the company’s stock worth $1,323,000 after acquiring an additional 16,450 shares during the last quarter. 68.53% of the stock is owned by institutional investors and hedge funds.

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.