Bandwidth (BAND) Lifted to Buy at ValuEngine

ValuEngine upgraded shares of Bandwidth (NASDAQ:BAND) from a hold rating to a buy rating in a report issued on Thursday.

A number of other analysts have also weighed in on BAND. Canaccord Genuity raised their price objective on shares of Bandwidth from $44.00 to $60.00 and gave the company a buy rating in a research note on Wednesday, October 31st. Morgan Stanley raised their price objective on shares of Bandwidth from $40.00 to $44.00 and gave the company a hold rating in a research note on Wednesday, October 31st. Finally, KeyCorp restated an overweight rating and set a $64.00 price objective on shares of Bandwidth in a research note on Monday, September 3rd. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Bandwidth presently has an average rating of Buy and an average target price of $45.67.

Shares of Bandwidth stock opened at $53.62 on Thursday. The stock has a market capitalization of $1.01 billion and a P/E ratio of 109.43. Bandwidth has a 1 year low of $18.05 and a 1 year high of $57.50.

Bandwidth (NASDAQ:BAND) last issued its quarterly earnings results on Tuesday, October 30th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.20) by $0.15. The company had revenue of $50.50 million during the quarter, compared to analyst estimates of $47.94 million. Bandwidth had a net margin of 9.58% and a return on equity of 4.99%. Bandwidth’s quarterly revenue was up 22.3% compared to the same quarter last year. During the same period last year, the business earned $0.15 EPS. On average, analysts anticipate that Bandwidth will post 0.09 earnings per share for the current year.

In other Bandwidth news, Director Henry R. Kaestner sold 8,750 shares of the firm’s stock in a transaction dated Monday, August 13th. The shares were sold at an average price of $43.96, for a total transaction of $384,650.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder James A. Bowen sold 350,000 shares of the firm’s stock in a transaction dated Wednesday, August 8th. The shares were sold at an average price of $42.00, for a total transaction of $14,700,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 459,471 shares of company stock valued at $19,568,660. 48.62% of the stock is owned by company insiders.

A number of large investors have recently added to or reduced their stakes in the business. Citadel Advisors LLC bought a new stake in shares of Bandwidth in the second quarter worth approximately $213,000. Barclays PLC bought a new stake in shares of Bandwidth in the first quarter worth approximately $262,000. Northern Trust Corp bought a new stake in shares of Bandwidth in the first quarter worth approximately $263,000. Jane Street Group LLC bought a new stake in shares of Bandwidth in the second quarter worth approximately $381,000. Finally, Personal Capital Advisors Corp bought a new stake in shares of Bandwidth in the second quarter worth approximately $681,000. Institutional investors and hedge funds own 30.30% of the company’s stock.

Bandwidth Company Profile

Bandwidth Inc operates as a cloud-based software-powered communications platform-as-a-service (CPaaS) provides in the United States. The company operates through two segments, CPaaS and Other. Its platform enables enterprises to create, scale, and operate voice or text communications services across mobile application or connected device.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Bandwidth (NASDAQ:BAND)

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