Bandwidth Inc. (NASDAQ:BAND) Receives $20.80 Consensus Price Target from Brokerages

Shares of Bandwidth Inc. (NASDAQ:BAND) have been assigned an average recommendation of “Moderate Buy” from the six analysts that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $20.80.

A number of research analysts have recently commented on BAND shares. Morgan Stanley dropped their price objective on Bandwidth from $18.00 to $11.00 and set an “underweight” rating on the stock in a report on Wednesday, April 16th. Needham & Company LLC reaffirmed a “buy” rating and issued a $20.00 price target on shares of Bandwidth in a report on Friday, June 13th. JMP Securities reissued a “market outperform” rating and set a $36.00 price objective on shares of Bandwidth in a report on Thursday, May 15th. Finally, Robert W. Baird reduced their price objective on shares of Bandwidth from $20.00 to $15.00 and set a “neutral” rating for the company in a research report on Thursday, May 8th.

Insider Activity

In related news, COO Devesh Agarwal sold 1,804 shares of Bandwidth stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $14.47, for a total value of $26,103.88. Following the sale, the chief operating officer directly owned 57,689 shares in the company, valued at $834,759.83. The trade was a 3.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Rebecca Bottorff sold 16,935 shares of the business’s stock in a transaction on Monday, June 9th. The stock was sold at an average price of $15.14, for a total transaction of $256,395.90. Following the sale, the insider owned 43,285 shares in the company, valued at $655,334.90. The trade was a 28.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 41,611 shares of company stock valued at $612,318 over the last ninety days. 6.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Bandwidth

Several hedge funds have recently bought and sold shares of BAND. Covestor Ltd purchased a new position in shares of Bandwidth in the fourth quarter valued at $25,000. New Age Alpha Advisors LLC acquired a new stake in Bandwidth in the 4th quarter valued at about $50,000. SBI Securities Co. Ltd. purchased a new position in Bandwidth during the 4th quarter valued at about $69,000. US Bancorp DE increased its holdings in Bandwidth by 11,281.3% during the 1st quarter. US Bancorp DE now owns 5,463 shares of the company’s stock valued at $72,000 after acquiring an additional 5,415 shares in the last quarter. Finally, Harbor Capital Advisors Inc. acquired a new position in Bandwidth during the first quarter worth about $72,000. 68.53% of the stock is owned by hedge funds and other institutional investors.

Bandwidth Stock Performance

Shares of BAND stock opened at $15.90 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.31 and a current ratio of 1.31. The firm has a market cap of $473.23 million, a P/E ratio of -45.43 and a beta of 1.82. The firm’s 50 day moving average price is $13.95 and its 200-day moving average price is $15.19. Bandwidth has a one year low of $11.33 and a one year high of $23.90.

Bandwidth (NASDAQ:BAND) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.29 by $0.07. Bandwidth had a positive return on equity of 1.46% and a negative net margin of 0.14%. The business had revenue of $174.24 million during the quarter, compared to analyst estimates of $168.96 million. During the same period last year, the business posted $0.27 earnings per share. The company’s quarterly revenue was up 1.8% on a year-over-year basis. As a group, equities research analysts predict that Bandwidth will post 0.22 EPS 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.