Bandwidth (NASDAQ:BAND) Stock Breaks Above 200-Day Moving Average - What's Next?

Bandwidth Inc. (NASDAQ:BAND - Get Free Report) crossed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $41.59 and traded as high as $42.72. Bandwidth shares last traded at $41.86, with a volume of 759,015 shares traded.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Wall Street Zen raised shares of Bandwidth from a "hold" rating to a "buy" rating in a research note on Saturday, October 31st. Morgan Stanley increased their target price on shares of Bandwidth from $56.00 to $57.00 and gave the company an "equal weight" rating in a report on Friday, October 30th. Needham & Company LLC reiterated a "buy" rating on shares of Bandwidth in a research report on Thursday, August 20th. Weiss Ratings raised shares of Bandwidth from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Wednesday, November 4th. Finally, Bank of America started coverage on shares of Bandwidth in a research note on Wednesday, September 16th. They issued a "neutral" rating and a $60.00 price target for the company. Four investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $66.67.

Bandwidth Stock Performance

The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.92 and a current ratio of 1.92. The business's 50-day moving average is $50.77 and its 200-day moving average is $41.59. The company has a market capitalization of $1.35 billion, a PE ratio of -348.80, a PEG ratio of 3.57 and a beta of 3.17.

Bandwidth (NASDAQ:BAND - Get Free Report) last announced its quarterly earnings data on Thursday, October 29th. The company reported $0.50 earnings per share for the quarter, topping analysts' consensus estimates of $0.47 by $0.03. The business had revenue of $234.02 million for the quarter, compared to analysts' expectations of $233.15 million. Bandwidth had a net margin of 1.01% and a return on equity of 3.70%. The company's revenue for the quarter was up 21.9% on a year-over-year basis. On average, research analysts anticipate that Bandwidth Inc. will post 0.65 earnings per share for the current year.

Insider Buying and Selling at Bandwidth

In other Bandwidth news, CFO Daryl Raiford sold 4,673 shares of the stock in a transaction on Monday, August 31st. The stock was sold at an average price of $49.15, for a total transaction of $229,677.95. Following the sale, the chief financial officer directly owned 35,832 shares in the company, valued at approximately $1,761,142.80. This trade represents a 11.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO David Morken sold 5,128 shares of Bandwidth stock in a transaction on Monday, August 31st. The stock was sold at an average price of $49.15, for a total value of $252,041.20. Following the completion of the sale, the chief executive officer directly owned 6,702 shares of the company's stock, valued at approximately $329,403.30. The trade was a 43.35% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 25,050 shares of company stock worth $1,228,342. Insiders own 5.26% of the company's stock.

Institutional Investors Weigh In On Bandwidth

Several institutional investors and hedge funds have recently added to or reduced their stakes in BAND. Tidal Investments LLC bought a new stake in Bandwidth in the 2nd quarter worth approximately $1,451,000. Bastion Asset Management Inc. purchased a new stake in shares of Bandwidth during the 1st quarter worth approximately $6,592,000. Walleye Capital LLC bought a new position in shares of Bandwidth during the 1st quarter valued at approximately $1,069,000. Arrowstreet Capital Limited Partnership grew its holdings in shares of Bandwidth by 299.5% in the first quarter. Arrowstreet Capital Limited Partnership now owns 688,430 shares of the company's stock valued at $12,268,000 after purchasing an additional 516,117 shares in the last quarter. Finally, Engineers Gate Manager LP bought a new stake in Bandwidth in the second quarter worth $2,218,000. Hedge funds and other institutional investors own 68.53% of the company's stock.

Bandwidth Company Profile

Bandwidth is a cloud communications company that provides software and network services for businesses, communications providers and software developers. Its platform enables organizations to add voice calling, messaging and emergency calling capabilities to their applications and services.

The company offers communications APIs, business voice and messaging solutions, and services for managing phone numbers and emergency communications. Bandwidth's network infrastructure supports these offerings and helps customers connect communications features with their existing systems.

Founded in 1999 and based in Raleigh, North Carolina, Bandwidth serves customers in the United States and internationally.

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