Bandwidth’s (BAND) Hold Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their hold rating on shares of Bandwidth (NASDAQ:BAND) in a research report report published on Friday,Benzinga reports.

BAND has been the subject of several other reports. Barclays dropped their price objective on Bandwidth from $25.00 to $22.00 and set an “overweight” rating for the company in a report on Friday. Morgan Stanley lifted their price objective on Bandwidth from $17.00 to $18.00 and gave the company an “underweight” rating in a report on Wednesday, December 18th. Finally, Robert W. Baird lifted their price objective on Bandwidth from $19.00 to $22.00 and gave the company a “neutral” rating in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Bandwidth has a consensus rating of “Moderate Buy” and a consensus price target of $28.33.

Bandwidth Price Performance

Shares of NASDAQ BAND opened at $17.00 on Friday. The firm has a market cap of $467.67 million, a P/E ratio of -29.82 and a beta of 1.54. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.83. Bandwidth has a 1-year low of $11.90 and a 1-year high of $25.02. The business’s 50 day moving average is $17.44 and its 200-day moving average is $17.87.

Bandwidth (NASDAQ:BAND) last announced its earnings results on Thursday, February 20th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.36). The firm had revenue of $209.97 million for the quarter, compared to the consensus estimate of $203.68 million. Bandwidth had a positive return on equity of 0.53% and a negative net margin of 0.87%. During the same quarter last year, the business posted $0.38 EPS. Equities research analysts predict that Bandwidth will post 0.22 earnings per share for the current year.

Insider Activity

In other news, General Counsel Richard Brandon Asbill sold 5,561 shares of Bandwidth stock in a transaction on Friday, November 29th. The stock was sold at an average price of $21.26, for a total value of $118,226.86. Following the transaction, the general counsel now owns 41,825 shares in the company, valued at approximately $889,199.50. This trade represents a 11.74 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Daryl Raiford sold 4,371 shares of Bandwidth stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $20.70, for a total value of $90,479.70. Following the completion of the transaction, the chief financial officer now owns 93,451 shares in the company, valued at approximately $1,934,435.70. The trade was a 4.47 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 51,417 shares of company stock worth $1,063,184. Insiders own 6.20% of the company’s stock.

Institutional Investors Weigh In On Bandwidth

A number of hedge funds and other institutional investors have recently bought and sold shares of BAND. Assenagon Asset Management S.A. grew its position in Bandwidth by 185.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 341,921 shares of the company’s stock worth $5,987,000 after acquiring an additional 222,142 shares during the last quarter. Parcion Private Wealth LLC grew its position in Bandwidth by 1.8% during the 3rd quarter. Parcion Private Wealth LLC now owns 228,210 shares of the company’s stock worth $3,996,000 after acquiring an additional 3,927 shares during the last quarter. Los Angeles Capital Management LLC grew its position in Bandwidth by 3.6% during the 3rd quarter. Los Angeles Capital Management LLC now owns 21,221 shares of the company’s stock worth $372,000 after acquiring an additional 740 shares during the last quarter. GSA Capital Partners LLP grew its position in Bandwidth by 32.0% during the 3rd quarter. GSA Capital Partners LLP now owns 69,986 shares of the company’s stock worth $1,225,000 after acquiring an additional 16,968 shares during the last quarter. Finally, Thrivent Financial for Lutherans grew its position in Bandwidth by 27.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 75,575 shares of the company’s stock worth $1,323,000 after acquiring an additional 16,450 shares during the last quarter. Institutional investors 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.