Bandwidth Inc. (NASDAQ:BAND) Given Consensus Rating of “Hold” by Analysts

Bandwidth Inc. (NASDAQ:BAND) has been given an average recommendation of “Hold” by the nine research firms that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating on the company. The average 1-year price target among brokers that have covered the stock in the last year is $25.71.

A number of research analysts recently issued reports on the company. Canaccord Genuity Group raised their price target on Bandwidth from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Bandwidth in a report on Friday, August 2nd. KeyCorp increased their price target on shares of Bandwidth from $21.00 to $32.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 8th. JMP Securities upped their target price on shares of Bandwidth from $32.00 to $36.00 and gave the company a “market outperform” rating in a report on Wednesday, May 8th. Finally, Barclays lowered their price target on Bandwidth from $28.00 to $25.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd.

Bandwidth Stock Up 1.0 %

Shares of NASDAQ BAND opened at $15.78 on Wednesday. The business has a 50-day moving average of $18.24 and a two-hundred day moving average of $17.99. The company has a market capitalization of $426.19 million, a price-to-earnings ratio of -14.09 and a beta of 1.48. 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:BAND) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.28 by $0.01. The firm had revenue of $174.00 million for the quarter, compared to analyst estimates of $173.18 million. Bandwidth had a negative net margin of 3.21% and a negative return on equity of 1.92%. Bandwidth’s revenue for the quarter was up 19.2% compared to the same quarter last year. During the same period last year, the business earned ($0.09) EPS. On average, analysts forecast that Bandwidth will post 0.16 earnings per share for the current fiscal year.

Insider Transactions at Bandwidth

In related news, CEO David A. Morken sold 1,290 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $20.40, for a total value of $26,316.00. Following the completion of the sale, the chief executive officer now owns 78,864 shares in the company, valued at $1,608,825.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO David A. Morken sold 1,290 shares of the stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $20.40, for a total transaction of $26,316.00. Following the completion of the transaction, the chief executive officer now directly owns 78,864 shares of the company’s stock, valued at approximately $1,608,825.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Lukas M. Roush purchased 4,963 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The stock was acquired at an average price of $16.12 per share, for a total transaction of $80,003.56. Following the completion of the purchase, the director now owns 43,167 shares of the company’s stock, valued at $695,852.04. The disclosure for this purchase can be found here. Insiders have sold a total of 30,473 shares of company stock worth $610,618 over the last ninety days. 6.20% of the stock is currently owned by company insiders.

Institutional Trading of Bandwidth

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Susquehanna Fundamental Investments LLC purchased a new position in Bandwidth in the first quarter valued at about $1,143,000. G2 Investment Partners Management LLC acquired a new position in Bandwidth during the fourth quarter worth $4,079,000. Acadian Asset Management LLC boosted its position in Bandwidth by 15.7% during the first quarter. Acadian Asset Management LLC now owns 341,303 shares of the company’s stock worth $6,231,000 after purchasing an additional 46,342 shares in the last quarter. Palogic Value Management L.P. grew its holdings in Bandwidth by 17.0% in 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 during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Bandwidth by 3.0% in the third quarter. Vanguard Group Inc. now owns 1,480,343 shares of the company’s stock valued at $16,683,000 after buying an additional 43,411 shares in the last quarter. Institutional investors and hedge funds own 68.53% of the company’s stock.

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.