Today’s Featured Stock
Valued at $2.08 billion, Bandwidth (BAND) is a communications platform-as-a-service (CPaaS) provider, offering avant-garde software application programming interfaces for voice and messaging services.
It is the only API platform provider that owns a Tier 1 network with enhanced network capacity, primarily catering to business enterprises. Technology companies like Microsoft, Cisco, and Google leverage Bandwidth’s API to embed voice, messaging, and 911 access into software and applications.
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What I’m Watching
I found today’s Chart of the Day by using Barchart’s powerful screening functions to sort for stocks with the highest technical buy signals; superior current momentum in both strength and direction; and a Trend Seeker “buy” signal. I then used Barchart’s Flipcharts feature to review the charts for consistent price appreciation BAND checks those boxes. The Trend Seeker issued a new “Buy” signal on April 14. Since then, the stock has gained 291.87%.
www.barchart.comBarchart Technical Indicators for Bandwidth
Editor’s Note: The technical indicators below are updated live during the session every 20 minutes and can therefore change each day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report. These technical indicators form the Barchart Opinion on a particular stock.
Bandwidth scored a 3-year high of $72.80 on June 2.
Bandwidth has a Weighted Alpha of +232.21. BAND has a 100% “Buy” opinion from Barchart. The stock has gained 388.30% over the past 52 weeks. Bandwidth has its Trend Seeker “Buy” signal intact. The stock recently traded at $70.36 with a 50-day moving average of $35.51. BAND has made 16 new highs and gained 56.74% over the past month. Relative Strength Index (RSI) is at 81.22. There’s a technical support level around $65.18.Don’t Forget the Fundamentals
$2.08 billion market capitalization. 433.13x trailing price-earnings ratio. Analysts project revenue to grow 18.19% this year and another 4.45% next year. Earnings are estimated to increase 25.87% this year and an additional 24.33% next year.Analyst and Investor Sentiment on Bandwidth
The Wall Street analysts followed by Barchart give the stock 4 “Strong Buy,” 1 “Moderate Buy,” and 1 “Hold” opinion with price targets between $38 and $70. Value Line ranks the stock “Above Average.” CFRA’s MarketScope rates the stock a “Buy.” Morningstar thinks the stock is 13% overvalued with a price target of $57.86. 9,250 investors are following the stock on Seeking Alpha, which rates it a “Strong Buy” and its No. 1 Communications Company. Short interest is 2.91% of the float with 1.00 days to cover the float.The Bottom Line on Bandwidth
This looks like an undiscovered company that has great projections in both revenue and earnings.
Additional disclosure: The Barchart Chart of the Day highlights stocks that are experiencing exceptional current price appreciation. They are not intended to be buy recommendations as these stocks are extremely volatile and speculative. Should you decide to add one of these stocks to your investment portfolio it is highly suggested you follow a predetermined diversification and moving stop loss discipline that is consistent with your personal investment risk tolerance.
On the date of publication, Jim Van Meerten did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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