Bandwidth (NASDAQ:BAND) was upgraded by research analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Thursday, BidAskClub reports.

Other equities analysts have also issued reports about the company. Canaccord Genuity increased their price objective on Bandwidth from $130.00 to $157.00 and gave the company a “buy” rating in a report on Friday, July 24th. JMP Securities increased their price objective on Bandwidth from $95.00 to $99.00 and gave the company a “market outperform” rating in a report on Friday, May 1st. Needham & Company LLC increased their target price on Bandwidth from $96.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, May 21st. William Blair initiated coverage on Bandwidth in a research report on Monday, May 11th. They set an “outperform” rating on the stock. Finally, KeyCorp increased their target price on Bandwidth from $120.00 to $125.00 and gave the stock an “overweight” rating in a research report on Thursday, June 11th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $140.57.

BAND traded down $4.21 during midday trading on Thursday, reaching $144.78. 878,796 shares of the company were exchanged, compared to its average volume of 357,921. The company has a debt-to-equity ratio of 0.82, a quick ratio of 12.89 and a current ratio of 12.89. The company’s fifty day moving average price is $130.29 and its 200 day moving average price is $92.98. The company has a market cap of $3.45 billion, a price-to-earnings ratio of -141.94 and a beta of 0.80. Bandwidth has a one year low of $42.61 and a one year high of $156.99.

Bandwidth (NASDAQ:BAND) last released its earnings results on Thursday, July 30th. The company reported $0.13 earnings per share (EPS) for the quarter. Bandwidth had a negative return on equity of 1.45% and a negative net margin of 9.21%. The company had revenue of $76.79 million during the quarter, compared to analyst estimates of $70.44 million. As a group, sell-side analysts anticipate that Bandwidth will post -0.35 earnings per share for the current fiscal year.

In other news, Director John C. Murdock sold 250 shares of the stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $131.90, for a total transaction of $32,975.00. Following the transaction, the director now directly owns 141,381 shares in the company, valued at $18,648,153.90. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Jeffrey A. Hoffman sold 10,000 shares of the stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $94.89, for a total transaction of $948,900.00. Following the transaction, the chief financial officer now owns 21,366 shares in the company, valued at $2,027,419.74. The disclosure for this sale can be found here. Insiders sold a total of 147,271 shares of company stock worth $17,862,643 over the last 90 days. Insiders own 11.05% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. AlphaCrest Capital Management LLC boosted its stake in shares of Bandwidth by 2.2% during the first quarter. AlphaCrest Capital Management LLC now owns 4,700 shares of the company’s stock valued at $316,000 after purchasing an additional 100 shares in the last quarter. Whittier Trust Co. purchased a new stake in Bandwidth during the second quarter valued at approximately $43,000. Oppenheimer Asset Management Inc. purchased a new stake in Bandwidth during the first quarter valued at approximately $27,000. Advisors Asset Management Inc. lifted its position in Bandwidth by 58.6% during the fourth quarter. Advisors Asset Management Inc. now owns 1,234 shares of the company’s stock valued at $79,000 after acquiring an additional 456 shares during the last quarter. Finally, Liberty One Investment Management LLC purchased a new stake in Bandwidth during the second quarter valued at approximately $59,000. Hedge funds and other institutional investors own 84.67% of the company’s stock.

Bandwidth Company Profile

Bandwidth Inc operates as a cloud-based software-powered communications platform-as-a-service (CPaaS) provider in the United States. The company operates through two segments, CPaaS and Other. Its platform enables enterprises to create, scale, and operate voice or text communications services across mobile application or connected device.

See Also: Sell-Side Analysts

Analyst Recommendations for Bandwidth (NASDAQ:BAND)

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