Robert W. Baird Cuts Bandwidth (NASDAQ:BAND) Price Target to $15.00

Bandwidth (NASDAQ:BAND) had its price objective decreased by Robert W. Baird from $20.00 to $15.00 in a research report report published on Thursday,Benzinga reports. Robert W. Baird currently has a neutral rating on the stock.

A number of other analysts have also recently issued reports on BAND. Barclays reduced their price objective on Bandwidth from $25.00 to $22.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. Morgan Stanley reduced their price target on Bandwidth from $18.00 to $11.00 and set an “underweight” rating for the company in a report on Wednesday, April 16th. Needham & Company LLC started coverage on Bandwidth in a report on Wednesday. They issued a “buy” rating and a $20.00 price objective on the stock. Finally, William Blair reiterated an “outperform” rating on shares of Bandwidth in a research note on Friday, February 21st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $20.80.

Bandwidth Stock Up 1.3 %

Shares of Bandwidth stock opened at $14.04 on Thursday. Bandwidth has a 1 year low of $11.33 and a 1 year high of $23.90. The company has a market cap of $401.88 million, a P/E ratio of -24.63 and a beta of 1.88. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.90. The stock has a 50-day moving average price of $13.36 and a 200 day moving average price of $16.51.

Bandwidth (NASDAQ:BAND) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.07. The business had revenue of $174.24 million during the quarter, compared to analyst estimates of $168.96 million. Bandwidth had a negative net margin of 0.87% and a positive return on equity of 0.53%. The firm’s revenue was up 1.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.27 earnings per share. As a group, analysts expect that Bandwidth will post 0.22 EPS for the current fiscal year.

Insider Buying and Selling

In other Bandwidth news, General Counsel Richard Brandon Asbill sold 9,878 shares of the company’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $15.24, for a total transaction of $150,540.72. Following the completion of the sale, the general counsel now directly owns 42,475 shares in the company, valued at $647,319. This represents a 18.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David A. Morken sold 13,653 shares of Bandwidth stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $15.70, for a total value of $214,352.10. Following the completion of the transaction, the chief executive officer now owns 142,439 shares in the company, valued at $2,236,292.30. The trade was a 8.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 63,721 shares of company stock worth $992,965. 6.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Bandwidth

Several hedge funds and other institutional investors have recently modified their holdings of BAND. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Bandwidth by 61.8% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 524,586 shares of the company’s stock valued at $8,928,000 after purchasing an additional 200,387 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in shares of Bandwidth by 88.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 285,559 shares of the company’s stock valued at $4,860,000 after buying an additional 133,715 shares during the period. Dimensional Fund Advisors LP grew its position in Bandwidth by 9.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,249,120 shares of the company’s stock worth $21,260,000 after buying an additional 112,269 shares in the last quarter. Millennium Management LLC increased its stake in Bandwidth by 213.5% during the fourth quarter. Millennium Management LLC now owns 136,442 shares of the company’s stock valued at $2,322,000 after acquiring an additional 92,915 shares during the period. Finally, Segall Bryant & Hamill LLC raised its holdings in Bandwidth by 260.3% in the 4th quarter. Segall Bryant & Hamill LLC now owns 122,087 shares of the company’s stock valued at $2,078,000 after acquiring an additional 88,198 shares in the last quarter. Institutional investors and hedge funds own 68.53% of the company’s stock.

Bandwidth Company Profile

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.