Bandwidth Inc (NASDAQ:BAND) hit a new 52-week high during trading on Tuesday . The company traded as high as $30.80 and last traded at $31.26, with a volume of 85884 shares changing hands. The stock had previously closed at $29.02.
A number of equities research analysts have recently commented on BAND shares. Canaccord Genuity reiterated a “buy” rating and issued a $30.00 target price (up from $28.00) on shares of Bandwidth in a research report on Thursday, February 22nd. Morgan Stanley set a $28.00 target price on shares of Bandwidth and gave the company a “buy” rating in a research report on Saturday, December 16th. KeyCorp reiterated a “buy” rating and issued a $29.00 target price on shares of Bandwidth in a research report on Thursday, December 14th. Robert W. Baird reiterated an “outperform” rating and issued a $30.00 target price (up from $28.00) on shares of Bandwidth in a research report on Thursday, February 22nd. Finally, JMP Securities started coverage on shares of Bandwidth in a research report on Tuesday, December 5th. They issued an “outperform” rating and a $36.00 target price for the company. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $31.00.
Bandwidth (NASDAQ:BAND) last issued its earnings results on Wednesday, February 21st. The company reported $0.09 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.11. The business had revenue of $42.47 million during the quarter, compared to analyst estimates of $41.69 million. Bandwidth’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter last year, the company earned $0.03 earnings per share. analysts forecast that Bandwidth Inc will post -0.14 EPS for the current year.
Bandwidth Inc, formerly Bandwidth.com, Inc, is a cloud-based communications platform-as-a-service provider (CPaaS) that enables enterprises to create, scale and operate voice or text communications services across any mobile application or connected device or enterprises. The Company has two operating and reportable segments, CPaaS and Other.
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