Bandwidth (NASDAQ:BAND) Shares Gap Up – What’s Next?

Bandwidth Inc. (NASDAQ:BAND)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $18.71, but opened at $19.23. Bandwidth shares last traded at $19.67, with a volume of 54,740 shares changing hands.

Analyst Ratings Changes

Several research analysts recently commented on the stock. JMP Securities restated a “market outperform” rating and set a $36.00 target price on shares of Bandwidth in a report on Tuesday, August 27th. Robert W. Baird lifted their price objective on shares of Bandwidth from $19.00 to $22.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Finally, Needham & Company LLC reissued a “hold” rating on shares of Bandwidth in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $28.33.

Bandwidth Trading Down 1.9 %

The firm has a 50-day moving average of $19.17 and a 200-day moving average of $18.21. The firm has a market capitalization of $527.37 million, a P/E ratio of -20.47 and a beta of 1.51. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.29 and a current ratio of 1.29.

Bandwidth (NASDAQ:BAND) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.11. The business had revenue of $193.90 million during the quarter, compared to analysts’ expectations of $182.05 million. Bandwidth had a negative return on equity of 0.89% and a negative net margin of 2.23%. The firm’s quarterly revenue was up 27.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.03 earnings per share. On average, equities research analysts anticipate that Bandwidth Inc. will post 0.08 EPS for the current fiscal year.

Insider Buying and Selling at Bandwidth

In other Bandwidth news, CEO David A. Morken sold 15,410 shares of the company’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $21.26, for a total transaction of $327,616.60. Following the completion of the sale, the chief executive officer now owns 101,821 shares in the company, valued at $2,164,714.46. This represents a 13.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Richard Brandon Asbill sold 5,561 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $21.26, for a total value of $118,226.86. Following the transaction, the general counsel now directly owns 41,825 shares in the company, valued at $889,199.50. This represents a 11.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 44,733 shares of company stock valued at $948,310 over the last 90 days. 6.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BAND. Baillie Gifford & Co. boosted its position in shares of Bandwidth by 40.6% during the 2nd quarter. Baillie Gifford & Co. now owns 30,412 shares of the company’s stock worth $513,000 after purchasing an additional 8,789 shares during the period. Panagora Asset Management Inc. lifted its position in shares of Bandwidth by 50.0% during the 2nd quarter. Panagora Asset Management Inc. now owns 139,592 shares of the company’s stock valued at $2,356,000 after acquiring an additional 46,547 shares during the period. Innealta Capital LLC acquired a new stake in Bandwidth in the 2nd quarter valued at about $30,000. Hussman Strategic Advisors Inc. increased its position in Bandwidth by 20.0% during the 2nd quarter. Hussman Strategic Advisors Inc. now owns 126,000 shares of the company’s stock worth $2,127,000 after purchasing an additional 21,000 shares in the last quarter. Finally, Versor Investments LP grew its stake in Bandwidth by 14.0% in the 2nd quarter. Versor Investments LP now owns 15,157 shares of the company’s stock worth $256,000 after acquiring an additional 1,857 shares during the period. 68.53% of the stock is currently owned by institutional investors and hedge funds.

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.