Bandwidth (NASDAQ:BAND) Sets New 1-Year High at $24.65

Bandwidth Inc. (NASDAQ:BAND - Get Free Report) reached a new 52-week high on Tuesday . The stock traded as high as $24.65 and last traded at $24.58, with a volume of 219906 shares traded. The stock had previously closed at $20.51.

Wall Street Analyst Weigh In

Several research firms recently weighed in on BAND. KeyCorp increased their target price on Bandwidth from $16.00 to $21.00 and gave the stock an "overweight" rating in a research report on Thursday, February 29th. Canaccord Genuity Group upped their price target on Bandwidth from $36.00 to $38.00 and gave the stock a "buy" rating in a research note on Thursday, February 29th. Finally, Barclays upped their price target on Bandwidth from $20.00 to $22.00 and gave the stock an "overweight" rating in a research note on Thursday, February 29th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Bandwidth has a consensus rating of "Moderate Buy" and an average target price of $20.50.

Bandwidth Trading Up 9.9 %

The business has a 50 day simple moving average of $18.58 and a two-hundred day simple moving average of $14.85. The company has a current ratio of 2.06, a quick ratio of 2.06 and a debt-to-equity ratio of 1.41. The stock has a market cap of $592.13 million, a price-to-earnings ratio of -21.47 and a beta of 1.44.

Bandwidth (NASDAQ:BAND - Get Free Report) last issued its quarterly earnings data on Wednesday, February 28th. The company reported $0.23 earnings per share for the quarter, missing analysts' consensus estimates of $0.24 by ($0.01). Bandwidth had a negative net margin of 2.72% and a negative return on equity of 3.10%. The business had revenue of $165.00 million for the quarter, compared to analyst estimates of $154.17 million. During the same quarter last year, the business earned $0.04 EPS. Bandwidth's revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, equities analysts anticipate that Bandwidth Inc. will post 0.19 EPS for the current year.

Insider Buying and Selling at Bandwidth

In other Bandwidth news, COO Anthony Bartolo sold 7,798 shares of the stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $18.75, for a total transaction of $146,212.50. Following the transaction, the chief operating officer now owns 76,469 shares of the company's stock, valued at approximately $1,433,793.75. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders sold a total of 12,556 shares of company stock worth $239,567 in the last 90 days. 6.20% of the stock is owned by corporate insiders.

Institutional Trading of Bandwidth

Hedge funds have recently made changes to their positions in the stock. DekaBank Deutsche Girozentrale bought a new stake in shares of Bandwidth in the 3rd quarter worth approximately $75,000. Headlands Technologies LLC raised its stake in Bandwidth by 21.3% during the 3rd quarter. Headlands Technologies LLC now owns 9,315 shares of the company's stock valued at $105,000 after acquiring an additional 1,636 shares in the last quarter. Raymond James & Associates bought a new stake in Bandwidth during the 3rd quarter valued at $115,000. Quest Partners LLC bought a new stake in Bandwidth during the 4th quarter valued at $145,000. Finally, Oak Harbor Wealth Partners LLC bought a new stake in Bandwidth during the 4th quarter valued at $224,000. 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.