Bandwidth’s (BAND) “Buy” Rating Reiterated at Robert W. Baird

Robert W. Baird reiterated their buy rating on shares of Bandwidth (NASDAQ:BAND) in a research note released on Thursday morning, TipRanks reports. Robert W. Baird currently has a $100.00 price objective on the stock.

Other research analysts have also issued research reports about the stock. ValuEngine raised shares of Bandwidth from a sell rating to a hold rating in a research note on Tuesday, February 25th. KeyCorp raised their price objective on shares of Bandwidth from $76.00 to $91.00 and gave the company an overweight rating in a research note on Friday, February 21st. Needham & Company LLC lifted their price target on shares of Bandwidth from $65.00 to $85.00 and gave the stock a buy rating in a research note on Friday, February 21st. JMP Securities reiterated a positive rating and issued a $95.00 price target on shares of Bandwidth in a research note on Friday, February 21st. Finally, BidaskClub upgraded shares of Bandwidth from a buy rating to a strong-buy rating in a research note on Saturday, March 21st. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $83.88.

Shares of BAND traded down $3.39 during trading on Thursday, reaching $67.45. 273,153 shares of the company traded hands, compared to its average volume of 461,172. Bandwidth has a twelve month low of $42.61 and a twelve month high of $90.63. The stock has a market cap of $1.67 billion, a PE ratio of 613.18 and a beta of 0.73. The stock has a 50-day simple moving average of $67.27 and a 200-day simple moving average of $63.96.

Bandwidth (NASDAQ:BAND) last announced its quarterly earnings results on Thursday, February 20th. The company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.11. Bandwidth had a net margin of 1.07% and a negative return on equity of 3.92%. The business had revenue of $62.00 million during the quarter, compared to analysts’ expectations of $58.65 million. Sell-side analysts predict that Bandwidth will post -0.57 EPS for the current fiscal year.

In other Bandwidth news, CFO Jeffrey A. Hoffman sold 690 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $64.79, for a total transaction of $44,705.10. Following the sale, the chief financial officer now owns 7,602 shares of the company’s stock, valued at $492,533.58. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO David A. Morken sold 4,781 shares of Bandwidth stock in a transaction on Friday, January 10th. The shares were sold at an average price of $70.05, for a total transaction of $334,909.05. Following the completion of the transaction, the chief executive officer now directly owns 3,357 shares in the company, valued at $235,157.85. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,256 shares of company stock worth $574,115. 15.27% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in BAND. Keel Point LLC acquired a new position in shares of Bandwidth in the 4th quarter valued at $29,302,000. Artisan Partners Limited Partnership acquired a new position in shares of Bandwidth in the 4th quarter valued at $25,940,000. Victory Capital Management Inc. increased its holdings in shares of Bandwidth by 43.1% in the 4th quarter. Victory Capital Management Inc. now owns 822,953 shares of the company’s stock valued at $58,396,000 after acquiring an additional 247,692 shares during the period. Thrivent Financial for Lutherans acquired a new position in shares of Bandwidth in the 4th quarter valued at $12,843,000. Finally, Standard Life Aberdeen plc increased its holdings in shares of Bandwidth by 70.9% in the 4th quarter. Standard Life Aberdeen plc now owns 476,350 shares of the company’s stock valued at $30,513,000 after acquiring an additional 197,552 shares during the period. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Bandwidth Company Profile

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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Analyst Recommendations for Bandwidth (NASDAQ:BAND)

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