Bandwidth (NASDAQ:BAND) PT Lowered to $55.00

Bandwidth (NASDAQ:BANDGet Rating) had its target price lowered by research analysts at JMP Securities from $100.00 to $55.00 in a note issued to investors on Thursday, The Fly reports. JMP Securities’ target price points to a potential upside of 242.89% from the stock’s previous close.

Other research analysts have also issued research reports about the company. Piper Sandler reduced their price target on Bandwidth from $40.00 to $29.00 and set an “overweight” rating on the stock in a report on Wednesday, July 13th. Needham & Company LLC lowered shares of Bandwidth from a “buy” rating to a “hold” rating in a report on Friday, May 6th. Barclays reduced their price objective on shares of Bandwidth from $45.00 to $30.00 and set an “overweight” rating on the stock in a report on Monday, July 25th. Morgan Stanley reduced their price objective on shares of Bandwidth from $38.00 to $22.00 and set an “equal weight” rating on the stock in a report on Thursday, July 14th. Finally, Robert W. Baird lowered shares of Bandwidth from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $38.00 to $25.00 in a report on Monday, May 16th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $59.75.

Bandwidth Stock Performance

Shares of BAND stock opened at $16.04 on Thursday. The stock’s fifty day moving average is $18.70 and its two-hundred day moving average is $29.79. The company has a debt-to-equity ratio of 2.53, a quick ratio of 4.36 and a current ratio of 4.36. Bandwidth has a fifty-two week low of $15.00 and a fifty-two week high of $130.00.

Bandwidth (NASDAQ:BANDGet Rating) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.03. Bandwidth had a negative return on equity of 0.97% and a negative net margin of 5.37%. During the same period last year, the company posted $0.21 EPS. As a group, research analysts forecast that Bandwidth will post -0.59 earnings per share for the current fiscal year.

Insider Transactions at Bandwidth

In related news, COO Anthony Bartolo acquired 10,000 shares of the stock in a transaction dated Monday, June 13th. The stock was acquired at an average cost of $15.88 per share, with a total value of $158,800.00. Following the completion of the transaction, the chief operating officer now owns 22,000 shares in the company, valued at approximately $349,360. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Over the last ninety days, insiders sold 1,105 shares of company stock valued at $22,113. 5.79% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Bandwidth

Institutional investors and hedge funds have recently made changes to their positions in the stock. State Board of Administration of Florida Retirement System lifted its stake in Bandwidth by 86.6% during the second quarter. State Board of Administration of Florida Retirement System now owns 21,014 shares of the company’s stock worth $395,000 after purchasing an additional 9,750 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Bandwidth by 64.7% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,900 shares of the company’s stock worth $262,000 after purchasing an additional 5,459 shares during the last quarter. Herald Investment Management Ltd lifted its stake in Bandwidth by 29.8% during the second quarter. Herald Investment Management Ltd now owns 139,500 shares of the company’s stock worth $2,625,000 after purchasing an additional 32,000 shares during the last quarter. Victory Capital Management Inc. purchased a new stake in Bandwidth during the second quarter worth approximately $695,000. Finally, SG Americas Securities LLC lifted its stake in Bandwidth by 73.5% during the second quarter. SG Americas Securities LLC now owns 51,955 shares of the company’s stock worth $978,000 after purchasing an additional 22,011 shares during the last quarter.

Bandwidth Company Profile

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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.

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