A number of other equities research analysts have also recently commented on BAND. Zacks Investment Research cut shares of Bandwidth from a “buy” rating to a “hold” rating in a research note on Tuesday, July 2nd. JPMorgan Chase & Co. initiated coverage on shares of Bandwidth in a research note on Wednesday, July 3rd. They set an “overweight” rating and a $90.00 price objective on the stock. Finally, Morgan Stanley cut shares of Bandwidth from an “underweight” rating to an “equal” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $77.50.
Shares of NASDAQ BAND traded down $2.71 during midday trading on Tuesday, reaching $55.80. 297,411 shares of the stock were exchanged, compared to its average volume of 241,532. The firm has a market cap of $1.34 billion, a price-to-earnings ratio of 180.00 and a beta of 0.60. Bandwidth has a twelve month low of $27.75 and a twelve month high of $90.63. The firm has a 50-day simple moving average of $68.94 and a two-hundred day simple moving average of $74.31.
Bandwidth (NASDAQ:BAND) last issued its quarterly earnings data on Wednesday, July 31st. The company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.19. The business had revenue of $56.80 million for the quarter, compared to analysts’ expectations of $55.06 million. Bandwidth had a net margin of 3.14% and a negative return on equity of 4.97%. The business’s revenue was up 17.6% on a year-over-year basis. During the same quarter last year, the company earned $0.20 EPS. On average, analysts forecast that Bandwidth will post -0.68 earnings per share for the current fiscal year.
In related news, CFO Jeffrey A. Hoffman sold 10,000 shares of Bandwidth stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $85.04, for a total value of $850,400.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Henry R. Kaestner sold 16,685 shares of Bandwidth stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $85.45, for a total transaction of $1,425,733.25. The disclosure for this sale can be found here. 15.27% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. US Bancorp DE grew its stake in Bandwidth by 66.8% in the 2nd quarter. US Bancorp DE now owns 502 shares of the company’s stock valued at $37,000 after acquiring an additional 201 shares during the period. Ladenburg Thalmann Financial Services Inc. grew its stake in Bandwidth by 118.3% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 738 shares of the company’s stock valued at $55,000 after acquiring an additional 400 shares during the period. Wedbush Securities Inc. grew its stake in Bandwidth by 1.3% in the 3rd quarter. Wedbush Securities Inc. now owns 32,364 shares of the company’s stock valued at $2,107,000 after acquiring an additional 420 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Bandwidth in the 2nd quarter valued at $66,000. Finally, Bender Robert & Associates grew its stake in Bandwidth by 1.5% in the 2nd quarter. Bender Robert & Associates now owns 61,289 shares of the company’s stock valued at $4,924,000 after acquiring an additional 895 shares during the period. 65.47% of the stock is currently owned by hedge funds and other institutional investors.
Bandwidth Inc operates as a cloud-based software-powered communications platform-as-a-service (CPaaS) provider 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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