Bandwidth (NASDAQ:BAND) Stock Price Up 5.7%

Bandwidth Inc. (NASDAQ:BAND)’s stock price was up 5.7% during trading on Monday . The stock traded as high as $20.41 and last traded at $20.36. Approximately 104,321 shares traded hands during trading, a decline of 69% from the average daily volume of 332,946 shares. The stock had previously closed at $19.26.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on BAND shares. Barclays boosted their price target on shares of Bandwidth from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Thursday, February 29th. KeyCorp increased their price target on shares of Bandwidth from $16.00 to $21.00 and gave the company an “overweight” rating in a research report on Thursday, February 29th. Finally, Canaccord Genuity Group boosted their target price on Bandwidth from $36.00 to $38.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $20.50.

Bandwidth Stock Up 6.5 %

The company has a 50 day moving average price of $18.20 and a 200-day moving average price of $14.69. The stock has a market capitalization of $538.80 million, a PE ratio of -19.44 and a beta of 1.44. The company has a debt-to-equity ratio of 1.41, a current ratio of 2.06 and a quick ratio of 2.06.

Bandwidth (NASDAQ:BAND) last announced its earnings results on Wednesday, February 28th. The company reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.01). Bandwidth had a negative net margin of 2.72% and a negative return on equity of 3.10%. The company had revenue of $165.00 million for the quarter, compared to the consensus estimate of $154.17 million. During the same period in the previous year, the firm posted $0.04 EPS. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. As a group, analysts forecast that Bandwidth Inc. will post 0.19 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Bandwidth news, COO Anthony Bartolo sold 7,798 shares of Bandwidth stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $18.75, for a total value of $146,212.50. Following the completion of the transaction, the chief operating officer now directly owns 76,469 shares of the company’s stock, valued at $1,433,793.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 12,556 shares of company stock worth $239,567 in the last 90 days. Insiders own 6.20% of the company’s stock.

Hedge Funds Weigh In On Bandwidth

Several hedge funds and other institutional investors have recently bought and sold shares of BAND. DekaBank Deutsche Girozentrale bought a new position in shares of Bandwidth during the 3rd quarter valued at $75,000. Swiss National Bank lifted its stake in shares of Bandwidth by 3.0% during the 3rd quarter. Swiss National Bank now owns 51,900 shares of the company’s stock valued at $585,000 after buying an additional 1,500 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Bandwidth by 3.0% during the 3rd quarter. Vanguard Group Inc. now owns 1,480,343 shares of the company’s stock valued at $16,683,000 after buying an additional 43,411 shares in the last quarter. Dark Forest Capital Management LP increased its stake in Bandwidth by 59.7% in the 3rd quarter. Dark Forest Capital Management LP now owns 52,331 shares of the company’s stock worth $590,000 after buying an additional 19,563 shares in the last quarter. Finally, Hussman Strategic Advisors Inc. purchased a new stake in Bandwidth in the 3rd quarter worth $355,000. Institutional investors own 68.53% of the company’s stock.

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.