Barclays Cuts Bandwidth (NASDAQ:BAND) Price Target to $25.00

Bandwidth (NASDAQ:BAND) had its target price decreased by Barclays from $28.00 to $25.00 in a report issued on Friday morning, Benzinga reports. Barclays currently has an overweight rating on the stock.

A number of other brokerages have also commented on BAND. Morgan Stanley lowered shares of Bandwidth from an equal weight rating to an underweight rating and decreased their price target for the company from $18.00 to $15.00 in a research note on Friday, June 14th. Robert W. Baird boosted their price target on shares of Bandwidth from $21.00 to $25.00 and gave the company a neutral rating in a research note on Wednesday, May 8th. JMP Securities boosted their price target on shares of Bandwidth from $32.00 to $36.00 and gave the company a market outperform rating in a research note on Wednesday, May 8th. KeyCorp boosted their price target on shares of Bandwidth from $21.00 to $32.00 and gave the company an overweight rating in a research note on Wednesday, May 8th. Finally, Needham & Company LLC reaffirmed a hold rating on shares of Bandwidth in a report on Friday. 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 company. According to MarketBeat, the company currently has an average rating of Hold and a consensus target price of $25.71.

Bandwidth Stock Down 1.8 %

Bandwidth stock opened at $14.93 on Friday. The firm has a 50 day moving average price of $18.75 and a two-hundred day moving average price of $17.94. The firm has a market cap of $403.26 million, a price-to-earnings ratio of -13.01 and a beta of 1.48. The company has a debt-to-equity ratio of 1.41, a quick ratio of 2.36 and a current ratio of 2.36. Bandwidth has a 52-week low of $9.34 and a 52-week high of $25.02.

Bandwidth (NASDAQ:BAND) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.01. The company had revenue of $174.00 million during the quarter, compared to analyst estimates of $173.18 million. Bandwidth had a negative net margin of 3.21% and a negative return on equity of 1.92%. Bandwidth’s revenue for the quarter was up 19.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.09) EPS. Equities analysts predict that Bandwidth will post 0.16 EPS for the current year.

Insider Buying and Selling

In related news, insider Devin M. Krupka sold 2,500 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $21.61, for a total value of $54,025.00. Following the transaction, the insider now directly owns 7,262 shares of the company’s stock, valued at approximately $156,931.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Devin M. Krupka sold 2,500 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $21.61, for a total value of $54,025.00. Following the transaction, the insider now directly owns 7,262 shares of the company’s stock, valued at approximately $156,931.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Daryl Raiford sold 13,410 shares of the business’s stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $20.01, for a total transaction of $268,334.10. Following the completion of the transaction, the chief financial officer now directly owns 68,076 shares in the company, valued at $1,362,200.76. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 32,973 shares of company stock valued at $664,643. 6.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Bandwidth

Several institutional investors have recently added to or reduced their stakes in the business. Versor Investments LP lifted its holdings in Bandwidth by 14.0% during the second quarter. Versor Investments LP now owns 15,157 shares of the company’s stock valued at $256,000 after purchasing an additional 1,857 shares during the last quarter. Hussman Strategic Advisors Inc. increased its position in shares of Bandwidth by 20.0% during the second quarter. Hussman Strategic Advisors Inc. now owns 126,000 shares of the company’s stock valued at $2,127,000 after buying an additional 21,000 shares during the period. Innealta Capital LLC bought a new stake in shares of Bandwidth during the second quarter valued at about $30,000. Panagora Asset Management Inc. increased its position in shares of Bandwidth by 50.0% during the second quarter. Panagora Asset Management Inc. now owns 139,592 shares of the company’s stock valued at $2,356,000 after buying an additional 46,547 shares during the period. Finally, Baillie Gifford & Co. increased its position in shares of Bandwidth by 40.6% during the second quarter. Baillie Gifford & Co. now owns 30,412 shares of the company’s stock valued at $513,000 after buying an additional 8,789 shares during the period. 68.53% of the stock is owned by hedge funds and other institutional investors.

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.