Bandwidth’s (BAND) “Outperform” Rating Reiterated at William Blair

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

A number of other equities research analysts have also commented on BAND. Barclays decreased their price objective on Bandwidth from $25.00 to $22.00 and set an “overweight” rating for the company in a research report on Friday. Morgan Stanley raised their price objective on Bandwidth from $17.00 to $18.00 and gave the stock an “underweight” rating in a research report on Wednesday, December 18th. Needham & Company LLC restated a “hold” rating on shares of Bandwidth in a research report on Friday. Finally, Robert W. Baird raised their price objective on Bandwidth from $19.00 to $22.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $28.33.

Bandwidth Trading Down 2.6 %

NASDAQ:BAND opened at $17.00 on Friday. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.83. Bandwidth has a 1-year low of $11.90 and a 1-year high of $25.02. The firm has a market capitalization of $467.67 million, a price-to-earnings ratio of -29.82 and a beta of 1.54. The stock has a fifty day simple moving average of $17.44 and a 200 day simple moving average of $17.87.

Bandwidth (NASDAQ:BAND) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.36). Bandwidth had a negative net margin of 0.87% and a positive return on equity of 0.53%. The company had revenue of $209.97 million during the quarter, compared to analyst estimates of $203.68 million. During the same quarter last year, the business earned $0.38 EPS. Sell-side analysts forecast that Bandwidth will post 0.22 earnings per share for the current year.

Insider Transactions at Bandwidth

In related news, CEO David A. Morken sold 15,410 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $21.26, for a total value of $327,616.60. Following the transaction, the chief executive officer now directly owns 101,821 shares of the company’s stock, valued at approximately $2,164,714.46. This trade represents a 13.14 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Richard Brandon Asbill sold 5,561 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $21.26, for a total value of $118,226.86. Following the completion of the transaction, the general counsel now directly owns 41,825 shares in the company, valued at $889,199.50. The trade was a 11.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 51,417 shares of company stock valued at $1,063,184 in the last three months. Corporate insiders own 6.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in Bandwidth by 4.3% in the 4th quarter. Vanguard Group Inc. now owns 1,769,027 shares of the company’s stock worth $30,109,000 after buying an additional 73,623 shares during the period. Dimensional Fund Advisors LP increased its position in 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 buying an additional 112,269 shares during the period. State Street Corp increased its position in 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 buying an additional 23,352 shares during the period. Renaissance Technologies LLC increased its position in Bandwidth by 15.3% in the 4th quarter. Renaissance Technologies LLC now owns 651,300 shares of the company’s stock worth $11,085,000 after buying an additional 86,200 shares during the period. Finally, Geode Capital Management LLC increased its position in Bandwidth by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 570,910 shares of the company’s stock worth $9,720,000 after buying an additional 2,243 shares during the period. 68.53% of the stock is 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.