On Jan. 05, Morken David A. divested U.S. $20,024,902 in shares of Bandwidth Inc.. The COB, CEO, 10% sold 131,391 shares at a price per share of $152.41. The transaction decreased this specific insider’s holdings to 827 shares worth around $0.13 million at present.
Morgan Stanley took its Bandwidth Inc. [BAND] rating to the equivalent of an Underweight from an Equal-weight, and the price target to $140, in a research note dated October 07, 2020. That figure represents around a -8.2% premium from where the company’s shares closed on Thursday. Other analysts also revised their coverage, with Morgan Stanley’s analysts downgrading the shares from “an Equal-weight” rating to “an Underweight” rating in a research note to investors issued in early October. In addition, there was a new coverage from William Blair on May 11, 2020. The research firm rated BAND “an Outperform”.
Is Bandwidth Inc. [NASDAQ:BAND] a Good Buy Right Now?
It should be noted that BAND technical indicators for short, intermediate as well as long term progress have placed an overall average of 8% as Buy. The average signal changed from 32% Buy in the last week and compares with 40% Buy in the past month. Data from Bandwidth Inc.’s Trend Spotter indicated that the signals were Strengthening. The stock current average is 0.51 million shares in the past 20 days and the short term average signal indicates a 50% Buy. In the last 50 days, the average trading volume was 0.51 million shares while the medium term average advocated for Hold. The average long-term signal stands at Hold and the 100-day average volume stands at 0.52 million shares.
BAND Price Performance
On Wall Street, Bandwidth Inc. [NASDAQ:BAND] finished Thursday’s session up 4.88% at $151.48. The stock went up to $152.29 at the same session while its lowest single day price was $147.20. In the last five days, it saw a fall of about -5.46%, Bandwidth Inc. shares dropped by almost -1.43% since the beginning of the year. However, the share price has dropped to as low as -23.73% below its one year high. On 01/04/21, the company shares recorded $161.00, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/06/21, the same year at $143.77. The company’s shares have inclined by 123.62% in the past year. The 50-day SMA achieved is $159.15 while the 200-day SMA is $136.68. Volume dropped to 0.64 million from 1.21 million in the previous session.
BAND Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 148.36 level, and in case of violation of this particular level, it will cause more drop to 145.23 level. On the upper level, 155.41 is still the key resistance. The stock may increase to the subsequent resistance at 153.45. The Relative Strength Index (RSI) pinned on the 14-day chart is 42.15, implying a neutral technical stance while the MACD stands at -15.09, meaning price will decrease in the next trading period. Percent R indicator moved to 83.29%, implying bearish price movement. Stochastic %K at 10.77% suggest buying the stock.
What is the short interest in Bandwidth Inc.?
Short interest in the Bandwidth Inc. stock has plunged, decreasing by 70000.0 shares to total 4.04 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 3.97 million, data from Yahoo Finance shows. The increase of 1.73% suggests the stock saw some increased bearish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 20.15% of the overall float for the stock.
Bandwidth Inc.’s Biggest Shareholders: Who Owns Bandwidth Inc. [BAND]?
Filings by The Vanguard Group, Inc. showed that the firm now holds a total of 1,584,419 shares or roughly 7.18% of the outstanding BAND shares. This means their shares have reduced by -50,826 from the 1,584,419 the investor reportedly held in its prior 13-F filing. With the conclusion of the sale, BlackRock Fund Advisors updated stake is worth $179,984,974. Details in the latest 13F filings reveal that Victory Capital Management, Inc. acquired their 7.24% stake valued at $160,192,407 while BNY Mellon Investment Adviser Inc added theirs at $151,759,510. During the last quarter, Victory Capital Management, Inc. raised 71,285 of its shares in Bandwidth Inc. while BNY Mellon Investment Adviser Inc bought 25,243 shares. The Wellington Management Co. LLP’s holdings currently number 944,164 shares at $143021962.72. According to the firm’s last 13F report, ClearBridge Investments LLC shares in the company at filing stood at 763,816 shares, roughly $115,931,992.
BAND Earnings Forecast For The Current Quarter
Bandwidth Inc. [BAND] is expected to report strong earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $96.72M and an earnings per share of $0.04 for Dec 2020. Looking further ahead, the company is expected to report revenue of $103.63M at an EPS of $0.02 for Mar 2021. The estimates represent upside of 38.30% and -21.46% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
BAND Earnings Estimates For The Current Year
For the financial year, Bandwidth Inc. [NASDAQ:BAND] is expected to bring in revenue of $326.82M. The returns are nearly $94.23 million higher than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at 0.45, higher than that of FY19 by $0.68. Estimates put this year’s earnings growth at 295.70%, -22.20% for the next. As for sales, forecasts are for an increase of 40.50% in the current fiscal year and a further 38.30% over the following year.
What are analyst thoughts on Bandwidth Inc.?
Looking forward to the Bandwidth Inc. share price prediction, we can see that analysts, surveyed by FactSet, offer the mean price target for Bandwidth Inc. stock at $200.00 within the next 12 months, which represents almost 24.26 per cent growth from its previous closing price of $151.48. The highest analysts’ target for Bandwidth Inc. stock projections is $225.00 and the lowest one is $145.00. Still, 9 analysts sharing their consensus rating for BAND stock in 2021 agree that it is an Overweight.