Analysts Set Bandwidth Inc. (NASDAQ:BAND) PT at $25.63

Shares of Bandwidth Inc. (NASDAQ:BANDGet Free Report) have been assigned a consensus recommendation of “Hold” from the ten research firms that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $25.63.

Several research analysts recently issued reports on BAND shares. Barclays raised their target price on Bandwidth from $22.00 to $28.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 8th. JMP Securities lifted their price objective on Bandwidth from $32.00 to $36.00 and gave the stock a “market outperform” rating in a research note on Wednesday, May 8th. Needham & Company LLC reissued a “hold” rating on shares of Bandwidth in a research report on Friday, May 10th. Robert W. Baird boosted their price target on shares of Bandwidth from $21.00 to $25.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 8th. Finally, Canaccord Genuity Group increased their price objective on shares of Bandwidth from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th.

Get Our Latest Report on Bandwidth

Bandwidth Stock Performance

Bandwidth stock opened at $15.65 on Tuesday. The business has a 50 day moving average of $19.37 and a 200-day moving average of $16.85. The company has a market capitalization of $422.71 million, a P/E ratio of -13.97 and a beta of 1.49. Bandwidth has a 1 year low of $9.34 and a 1 year high of $25.02. The company has a debt-to-equity ratio of 1.41, a current ratio of 2.36 and a quick ratio of 2.36.

Bandwidth (NASDAQ:BANDGet Free Report) last posted 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). The business had revenue of $171.03 million for the quarter, compared to the consensus estimate of $165.10 million. Bandwidth had a negative return on equity of 2.49% and a negative net margin of 4.60%. On average, equities research analysts predict that Bandwidth will post 0.16 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Lukas M. Roush acquired 4,963 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were purchased at an average price of $16.12 per share, for a total transaction of $80,003.56. Following the completion of the acquisition, the director now owns 43,167 shares of the company’s stock, valued at $695,852.04. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Lukas M. Roush acquired 4,963 shares of Bandwidth stock in a transaction on Friday, June 14th. The stock was purchased at an average price of $16.12 per share, with a total value of $80,003.56. Following the completion of the purchase, the director now owns 43,167 shares of the company’s stock, valued at approximately $695,852.04. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Devin M. Krupka sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $21.61, for a total value of $54,025.00. Following the transaction, the insider now directly owns 7,262 shares in the company, valued at $156,931.82. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,729 shares of company stock worth $566,540. 6.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in BAND. Swiss National Bank boosted its stake in Bandwidth by 3.0% during the 3rd quarter. Swiss National Bank now owns 51,900 shares of the company’s stock valued at $585,000 after purchasing an additional 1,500 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new position in shares of Bandwidth during the third quarter valued at approximately $75,000. Dark Forest Capital Management LP grew its holdings in Bandwidth by 59.7% during the third quarter. Dark Forest Capital Management LP now owns 52,331 shares of the company’s stock worth $590,000 after buying an additional 19,563 shares in the last quarter. B. Riley Asset Management LLC purchased a new stake in Bandwidth in the 3rd quarter valued at $682,000. Finally, Vanguard Group Inc. lifted its stake in Bandwidth by 3.0% during the 3rd quarter. Vanguard Group Inc. now owns 1,480,343 shares of the company’s stock valued at $16,683,000 after acquiring an additional 43,411 shares in the last quarter. 68.53% of the stock is currently owned by institutional investors and hedge funds.

About Bandwidth

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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.

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Analyst Recommendations for Bandwidth (NASDAQ:BAND)

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