Bandwidth (NASDAQ:BAND)‘s stock had its “overweight” rating reiterated by research analysts at KeyCorp in a research report issued to clients and investors on Thursday. They currently have a $31.00 price target on the stock, up from their prior price target of $29.00. KeyCorp’s target price would suggest a potential upside of 14.86% from the company’s current price.
A number of other research analysts have also recently commented on the company. JMP Securities started coverage on Bandwidth in a research note on Tuesday, December 5th. They set an “outperform” rating and a $36.00 price objective on the stock. Morgan Stanley started coverage on Bandwidth in a research note on Tuesday, December 5th. They set an “overweight” rating and a $28.00 price objective on the stock. Canaccord Genuity initiated coverage on Bandwidth in a research note on Tuesday, December 5th. They set a “buy” rating and a $28.00 price objective on the stock. Finally, Robert W. Baird initiated coverage on Bandwidth in a research note on Tuesday, December 5th. They issued an “outperform” rating and a $28.00 price target on the stock. Five equities research analysts have rated the stock with a buy rating, Bandwidth has an average rating of “Buy” and a consensus price target of $31.00.
Shares of Bandwidth (BAND) traded up $2.90 on Thursday, hitting $26.99. The company’s stock had a trading volume of 474,000 shares, compared to its average volume of 82,265. Bandwidth has a 12 month low of $18.05 and a 12 month high of $28.22. The company has a debt-to-equity ratio of -2.45, a quick ratio of 1.17 and a current ratio of 1.17.
Bandwidth (NASDAQ:BAND) last issued its quarterly earnings data on Wednesday, February 21st. The company reported $0.09 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.11. The company had revenue of $42.47 million for the quarter, compared to analyst estimates of $41.69 million. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.03 EPS. equities research analysts predict that Bandwidth will post -0.47 earnings per share for the current fiscal year.
In related news, major shareholder James A. Bowen sold 158,526 shares of the business’s stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $18.60, for a total value of $2,948,583.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Several large investors have recently added to or reduced their stakes in BAND. Virtu Financial LLC acquired a new position in shares of Bandwidth in the fourth quarter worth about $277,000. Spark Investment Management LLC acquired a new position in shares of Bandwidth in the fourth quarter worth about $436,000. Royce & Associates LP acquired a new position in shares of Bandwidth in the fourth quarter worth about $1,050,000. Two Sigma Investments LP acquired a new position in shares of Bandwidth in the fourth quarter worth about $1,277,000. Finally, Millennium Management LLC acquired a new position in shares of Bandwidth in the fourth quarter worth about $1,366,000. Institutional investors and hedge funds own 6.52% of the company’s stock.
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Bandwidth Inc, formerly Bandwidth.com, Inc, is a cloud-based communications platform-as-a-service provider (CPaaS) that enables enterprises to create, scale and operate voice or text communications services across any mobile application or connected device or enterprises. The Company has two operating and reportable segments, CPaaS and Other.
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