KeyCorp Increases Bandwidth (NASDAQ:BAND) Price Target to $32.00

Bandwidth (NASDAQ:BAND) had its price objective increased by research analysts at KeyCorp from $21.00 to $32.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. KeyCorp’s price target indicates a potential upside of 48.29% from the stock’s current price.

Several other equities research analysts also recently commented on the company. Robert W. Baird upped their target price on Bandwidth from $21.00 to $25.00 and gave the company a “neutral” rating in a report on Wednesday. Canaccord Genuity Group raised their target price on shares of Bandwidth from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Barclays boosted their price target on shares of Bandwidth from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Thursday, February 29th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $25.38.

Bandwidth Price Performance

NASDAQ:BAND traded down $0.96 during mid-day trading on Wednesday, reaching $21.58. 390,323 shares of the stock were exchanged, compared to its average volume of 346,933. Bandwidth has a 1-year low of $9.34 and a 1-year high of $25.02. The company has a current ratio of 2.06, a quick ratio of 2.06 and a debt-to-equity ratio of 1.41. The firm has a market capitalization of $566.91 million, a PE ratio of -20.46 and a beta of 1.44. The business has a fifty day moving average price of $18.58 and a 200 day moving average price of $14.85.

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

Insider Buying and Selling at Bandwidth

In related news, COO Anthony Bartolo sold 7,798 shares of the stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $18.75, for a total transaction of $146,212.50. Following the completion of the sale, the chief operating officer now directly owns 76,469 shares in the company, valued at $1,433,793.75. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders sold 12,556 shares of company stock valued at $239,567 in the last quarter. Company insiders own 6.20% of the company’s stock.

Hedge Funds Weigh In On Bandwidth

Several institutional investors have recently bought and sold shares of the stock. DekaBank Deutsche Girozentrale acquired a new position in shares of Bandwidth during the 3rd quarter valued at about $75,000. Headlands Technologies LLC boosted its position in Bandwidth by 21.3% during the third quarter. Headlands Technologies LLC now owns 9,315 shares of the company’s stock worth $105,000 after purchasing an additional 1,636 shares during the period. Raymond James & Associates acquired a new position in Bandwidth during the third quarter valued at approximately $115,000. Quest Partners LLC bought a new position in shares of Bandwidth in the fourth quarter valued at approximately $145,000. Finally, Oak Harbor Wealth Partners LLC acquired a new stake in shares of Bandwidth in the fourth quarter worth $224,000. 68.53% of the stock is currently owned by institutional investors.

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.