Robert W. Baird Cuts Bandwidth (NASDAQ:BAND) Price Target to $15.00

Bandwidth (NASDAQ:BAND) had its price target reduced by analysts at Robert W. Baird from $20.00 to $15.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Robert W. Baird’s target price suggests a potential upside of 6.84% from the company’s previous close.

Several other equities analysts have also commented on the stock. Barclays reduced their target price on shares of Bandwidth from $25.00 to $22.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. Morgan Stanley cut their price objective on Bandwidth from $18.00 to $11.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 16th. Needham & Company LLC assumed coverage on shares of Bandwidth in a research note on Wednesday. They issued a “buy” rating and a $20.00 price target for the company. Finally, William Blair reiterated an “outperform” rating on shares of Bandwidth in a research note on Friday, February 21st. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $20.80.

Bandwidth Trading Up 1.3 %

Shares of BAND stock opened at $14.04 on Thursday. The stock has a market capitalization of $401.88 million, a price-to-earnings ratio of -24.63 and a beta of 1.88. The company’s fifty day simple moving average is $13.36 and its two-hundred day simple moving average is $16.52. Bandwidth has a 1 year low of $11.33 and a 1 year high of $23.90. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.34 and a quick ratio of 1.34.

Bandwidth (NASDAQ:BAND) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.07. Bandwidth had a positive return on equity of 0.53% and a negative net margin of 0.87%. The firm had revenue of $174.24 million for the quarter, compared to analysts’ expectations of $168.96 million. During the same quarter last year, the firm posted $0.27 EPS. The company’s revenue was up 1.8% compared to the same quarter last year. As a group, analysts anticipate 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 13,653 shares of Bandwidth stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $15.70, for a total value of $214,352.10. Following the completion of the sale, the chief executive officer now directly owns 142,439 shares in the company, valued at $2,236,292.30. This trade represents a 8.75 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Richard Brandon Asbill sold 9,878 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $15.24, for a total transaction of $150,540.72. Following the transaction, the general counsel now directly owns 42,475 shares of the company’s stock, valued at $647,319. This represents a 18.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 63,721 shares of company stock valued at $992,965. 6.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Bandwidth

A number of hedge funds have recently bought and sold shares of the business. Covestor Ltd purchased a new stake in shares of Bandwidth during the fourth quarter worth $25,000. New Age Alpha Advisors LLC acquired a new stake in shares of Bandwidth during the 4th quarter worth about $50,000. SBI Securities Co. Ltd. acquired a new position in shares of Bandwidth in the 4th quarter worth approximately $69,000. Harbor Capital Advisors Inc. acquired a new stake in shares of Bandwidth in the first quarter valued at $72,000. Finally, US Bancorp DE boosted its position in Bandwidth by 11,281.3% in the 1st quarter. US Bancorp DE now owns 5,463 shares of the company’s stock valued at $72,000 after buying an additional 5,415 shares during the period. Hedge funds and other institutional investors own 68.53% of the company’s stock.

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.