Brokerages Set Bandwidth Inc. (NASDAQ:BAND) Price Target at $19.71

Bandwidth Inc. (NASDAQ:BAND) has been given a consensus rating of “Moderate Buy” by the seven brokerages that are currently covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $19.71.

BAND has been the topic of a number of research analyst reports. Barclays raised their target price on shares of Bandwidth from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Thursday, February 29th. Canaccord Genuity Group lifted their price target on shares of Bandwidth from $36.00 to $38.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. Finally, KeyCorp boosted their target price on shares of Bandwidth from $16.00 to $21.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th.

Insider Buying and Selling

In other news, COO Anthony Bartolo sold 7,798 shares of Bandwidth stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $18.75, for a total transaction of $146,212.50. Following the sale, the chief operating officer now owns 76,469 shares of the company’s stock, valued at approximately $1,433,793.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 12,556 shares of company stock worth $239,567 in the last 90 days. 6.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Bandwidth

A number of large investors have recently modified their holdings of BAND. DekaBank Deutsche Girozentrale purchased a new position in Bandwidth during the 3rd quarter valued at about $75,000. Headlands Technologies LLC raised its holdings in Bandwidth by 21.3% in the third quarter. Headlands Technologies LLC now owns 9,315 shares of the company’s stock worth $105,000 after buying an additional 1,636 shares during the last quarter. Raymond James & Associates purchased a new position in Bandwidth in the third quarter worth about $115,000. Quest Partners LLC purchased a new position in Bandwidth in the fourth quarter worth about $145,000. Finally, Oak Harbor Wealth Partners LLC purchased a new position in Bandwidth in the fourth quarter worth about $224,000. Institutional investors own 68.53% of the company’s stock.

Bandwidth Trading Up 3.0 %

Bandwidth stock opened at $18.75 on Monday. Bandwidth has a one year low of $9.34 and a one year high of $21.68. The company has a market cap of $492.56 million, a price-to-earnings ratio of -17.86 and a beta of 1.48. The firm has a 50-day moving average of $17.91 and a 200-day moving average of $14.54. The company has a debt-to-equity ratio of 1.41, a current ratio of 2.06 and a quick ratio of 2.06.

Bandwidth (NASDAQ:BAND) last released its quarterly earnings results on Wednesday, February 28th. The company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.01). The company had revenue of $165.00 million during the quarter, compared to the consensus estimate of $154.17 million. Bandwidth had a negative net margin of 2.72% and a negative return on equity of 3.10%. The firm’s revenue was up 5.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.04 earnings per share. On average, equities analysts expect that Bandwidth will post 0.19 earnings per share for the current fiscal year.

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.