Bandwidth Inc. (NASDAQ:BAND) Receives $25.38 Consensus Target Price from Analysts

Shares of Bandwidth Inc. (NASDAQ:BANDGet Free Report) have received an average rating of “Moderate Buy” from the ten brokerages that are currently covering the stock, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $25.38.

A number of brokerages have recently weighed in on BAND. KeyCorp boosted their target price on Bandwidth from $21.00 to $32.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 8th. Canaccord Genuity Group upped their price objective on Bandwidth from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Needham & Company LLC reiterated a “hold” rating on shares of Bandwidth in a research note on Friday, May 10th. Barclays upped their price objective on Bandwidth from $22.00 to $28.00 and gave the company an “overweight” rating in a research note on Wednesday, May 8th. Finally, JMP Securities upped their price objective on Bandwidth from $32.00 to $36.00 and gave the company a “market outperform” rating in a research note on Wednesday, May 8th.

Read Our Latest Stock Report on BAND

Insider Transactions at Bandwidth

In other news, insider Devin M. Krupka sold 2,500 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $21.61, for a total transaction of $54,025.00. Following the completion of the sale, the insider now directly owns 7,262 shares in the company, valued at $156,931.82. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Bandwidth news, COO Anthony Bartolo sold 7,798 shares of the firm’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $18.75, for a total value of $146,212.50. Following the completion of the sale, the chief operating officer now directly owns 76,469 shares in the company, valued at $1,433,793.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Devin M. Krupka sold 2,500 shares of the firm’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $21.61, for a total transaction of $54,025.00. Following the completion of the sale, the insider now owns 7,262 shares of the company’s stock, valued at $156,931.82. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,124 shares of company stock worth $295,098. Company insiders own 6.20% of the company’s stock.

Institutional Trading of Bandwidth

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in Bandwidth by 1.1% in the first quarter. Vanguard Group Inc. now owns 1,536,051 shares of the company’s stock worth $28,048,000 after buying an additional 16,181 shares during the period. Acadian Asset Management LLC increased its stake in shares of Bandwidth by 15.7% during the first quarter. Acadian Asset Management LLC now owns 341,303 shares of the company’s stock valued at $6,231,000 after purchasing an additional 46,342 shares in the last quarter. Palogic Value Management L.P. increased its stake in shares of Bandwidth by 17.0% during the fourth quarter. Palogic Value Management L.P. now owns 300,000 shares of the company’s stock valued at $4,341,000 after purchasing an additional 43,675 shares in the last quarter. G2 Investment Partners Management LLC bought a new position in shares of Bandwidth during the fourth quarter valued at approximately $4,079,000. Finally, Parcion Private Wealth LLC increased its stake in shares of Bandwidth by 1.0% during the fourth quarter. Parcion Private Wealth LLC now owns 216,428 shares of the company’s stock valued at $3,132,000 after purchasing an additional 2,153 shares in the last quarter. 68.53% of the stock is currently owned by hedge funds and other institutional investors.

Bandwidth Trading Down 0.1 %

NASDAQ BAND opened at $20.87 on Friday. The company has a quick ratio of 2.36, a current ratio of 2.36 and a debt-to-equity ratio of 1.41. Bandwidth has a twelve month low of $9.34 and a twelve month high of $25.02. The company has a market cap of $563.70 million, a price-to-earnings ratio of -18.63 and a beta of 1.44. The business’s fifty day moving average is $19.15 and its 200 day moving average is $15.89.

Bandwidth (NASDAQ:BANDGet Free Report) last announced its earnings results on Tuesday, May 7th. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.08). Bandwidth had a negative return on equity of 2.49% and a negative net margin of 4.60%. As a group, sell-side analysts expect that Bandwidth will post 0.22 EPS for the current fiscal year.

Bandwidth Company Profile

(Get Free Report

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.

Further Reading

Analyst Recommendations for Bandwidth (NASDAQ:BAND)

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