Bandwidth (NASDAQ:BAND) Given “Outperform” Rating at William Blair

William Blair reiterated their outperform rating on shares of Bandwidth (NASDAQ:BAND) in a research note published on Friday morning,RTT News reports.

Other equities research analysts also recently issued research reports about the company. Needham & Company LLC reissued a “hold” rating on shares of Bandwidth in a research report on Friday. Barclays reduced their target price on Bandwidth from $25.00 to $22.00 and set an “overweight” rating on the stock in a report on Friday. Morgan Stanley raised their price target on Bandwidth from $17.00 to $18.00 and gave the stock an “underweight” rating in a research report on Wednesday, December 18th. Finally, Robert W. Baird upped their price objective on shares of Bandwidth from $19.00 to $22.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $28.33.

Bandwidth Trading Down 2.6 %

Shares of NASDAQ:BAND opened at $17.00 on Friday. Bandwidth has a 12-month low of $11.90 and a 12-month high of $25.02. The business has a 50 day moving average of $17.44 and a 200-day moving average of $17.84. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.83. The stock has a market cap of $467.67 million, a PE ratio of -18.28 and a beta of 1.54.

Bandwidth (NASDAQ:BAND) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.36). Bandwidth had a negative return on equity of 0.89% and a negative net margin of 2.23%. The firm had revenue of $209.97 million for the quarter, compared to the consensus estimate of $203.68 million. During the same quarter in the previous year, the business earned $0.38 EPS. As a group, equities research analysts forecast that Bandwidth will post 0.08 earnings per share for the current year.

Insider Transactions at Bandwidth

In other news, CEO David A. Morken sold 15,410 shares of the company’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $21.26, for a total value of $327,616.60. Following the sale, the chief executive officer now directly owns 101,821 shares of the company’s stock, valued at approximately $2,164,714.46. This represents a 13.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Richard Brandon Asbill sold 5,561 shares of the company’s stock in a transaction on Friday, November 29th. The shares were 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 trade represents a 11.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 51,417 shares of company stock worth $1,063,184 over the last ninety days. 6.20% of the stock is owned by insiders.

Institutional Trading of Bandwidth

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BAND. Vanguard Group Inc. grew its stake in Bandwidth by 4.3% in the fourth quarter. Vanguard Group Inc. now owns 1,769,027 shares of the company’s stock valued at $30,109,000 after acquiring an additional 73,623 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Bandwidth by 9.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,249,120 shares of the company’s stock worth $21,260,000 after purchasing an additional 112,269 shares in the last quarter. State Street Corp lifted its holdings in shares of Bandwidth by 3.7% in the 3rd quarter. State Street Corp now owns 655,768 shares of the company’s stock worth $11,482,000 after purchasing an additional 23,352 shares in the last quarter. Renaissance Technologies LLC grew its position in Bandwidth by 15.3% in the 4th quarter. Renaissance Technologies LLC now owns 651,300 shares of the company’s stock valued at $11,085,000 after purchasing an additional 86,200 shares during the period. Finally, Geode Capital Management LLC increased its stake in Bandwidth by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 570,910 shares of the company’s stock valued at $9,720,000 after purchasing an additional 2,243 shares in the last quarter. 68.53% of the stock is owned by 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.