Bandwidth Inc. (NASDAQ:BAND) Receives Average Recommendation of “Hold” from Brokerages

Bandwidth Inc. (NASDAQ:BAND) has been assigned an average recommendation of “Hold” from the nine analysts that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and five have given a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $25.71.

A number of analysts have weighed in on BAND shares. Needham & Company LLC reiterated a “hold” rating on shares of Bandwidth in a report on Friday, August 2nd. Robert W. Baird dropped their price target on Bandwidth from $25.00 to $19.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. JMP Securities restated a “market outperform” rating and set a $36.00 price target on shares of Bandwidth in a report on Tuesday, August 27th. Morgan Stanley lowered shares of Bandwidth from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $18.00 to $15.00 in a research note on Friday, June 14th. Finally, Barclays cut their target price on shares of Bandwidth from $28.00 to $25.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd.

Insider Activity

In related news, CFO Daryl Raiford sold 1,769 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $22.22, for a total value of $39,307.18. Following the transaction, the chief financial officer now owns 63,397 shares of the company’s stock, valued at approximately $1,408,681.34. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, 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 acquisition, the director now owns 43,167 shares of the company’s stock, valued at approximately $695,852.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Daryl Raiford sold 1,769 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $22.22, for a total value of $39,307.18. Following the transaction, the chief financial officer now owns 63,397 shares in the company, valued at $1,408,681.34. The disclosure for this sale can be found here. Insiders sold 13,794 shares of company stock worth $245,075 over the last three months. 6.20% of the stock is currently owned by insiders.

Institutional Trading of Bandwidth

Several institutional investors and hedge funds have recently made changes to their positions in the company. Janney Montgomery Scott LLC lifted its position in shares of Bandwidth by 25.2% during the 4th quarter. Janney Montgomery Scott LLC now owns 73,235 shares of the company’s stock worth $1,060,000 after buying an additional 14,752 shares in the last quarter. Panagora Asset Management Inc. purchased a new stake in shares of Bandwidth during the 4th quarter valued at $471,000. Quest Partners LLC purchased a new stake in shares of Bandwidth during the 4th quarter valued at $145,000. Oak Harbor Wealth Partners LLC purchased a new position in shares of Bandwidth in the 4th quarter worth about $224,000. Finally, Olympiad Research LP grew its position in Bandwidth by 65.4% during the fourth quarter. Olympiad Research LP now owns 16,917 shares of the company’s stock valued at $245,000 after buying an additional 6,686 shares during the period. Hedge funds and other institutional investors own 68.53% of the company’s stock.

Bandwidth Stock Down 7.0 %

NASDAQ:BAND opened at $15.91 on Friday. Bandwidth has a one year low of $9.34 and a one year high of $25.02. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.16 and a quick ratio of 1.16. The company has a market cap of $429.70 million, a PE ratio of -14.21 and a beta of 1.50. The firm’s 50 day simple moving average is $17.89 and its 200 day simple moving average is $18.34.

Bandwidth (NASDAQ:BAND) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.01. The company 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 1.89%. Bandwidth’s revenue was up 19.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.09) earnings per share. On average, research analysts anticipate that Bandwidth will post 0.11 earnings per share for the current 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.