Bandwidth (NASDAQ:BAND) had its price target reduced by analysts at JPMorgan Chase & Co. from $90.00 to $55.00 in a research report issued to clients and investors on Thursday, Stock Target Advisor reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 13.54% from the company’s previous close.
A number of other research firms have also weighed in on BAND. ValuEngine upgraded shares of Bandwidth from a “sell” rating to a “hold” rating in a research report on Tuesday, October 22nd. Morgan Stanley lowered shares of Bandwidth from an “underweight” rating to an “equal” rating in a research report on Tuesday, October 22nd. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $71.67.
NASDAQ:BAND traded up $0.87 during midday trading on Thursday, reaching $48.44. The stock had a trading volume of 7,243 shares, compared to its average volume of 326,934. The firm has a fifty day simple moving average of $61.85 and a two-hundred day simple moving average of $73.34. Bandwidth has a 12-month low of $27.75 and a 12-month high of $90.63. The stock has a market cap of $1.27 billion, a P/E ratio of 155.97 and a beta of 0.53.
Bandwidth (NASDAQ:BAND) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.09. Bandwidth had a net margin of 3.14% and a negative return on equity of 4.97%. The firm had revenue of $60.50 million for the quarter, compared to analyst estimates of $58.78 million. During the same period last year, the firm posted ($0.05) EPS. Bandwidth’s quarterly revenue was up 19.8% on a year-over-year basis. As a group, sell-side analysts expect that Bandwidth will post -0.68 EPS for the current year.
In other Bandwidth news, major shareholder Henry R. Kaestner sold 16,685 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $85.45, for a total value of $1,425,733.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 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 BAND. US Bancorp DE lifted its holdings in Bandwidth by 66.8% in the second 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. Tower Research Capital LLC TRC acquired a new stake in Bandwidth in the third quarter valued at $49,000. Ladenburg Thalmann Financial Services Inc. lifted its holdings in Bandwidth by 118.3% in the second 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. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Bandwidth in the second quarter valued at $66,000. Finally, Bank of Montreal Can acquired a new stake in Bandwidth in the second quarter valued at $103,000. 65.33% of the stock is owned by institutional investors.
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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