Bandwidth Inc. (NASDAQ:BAND) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Bandwidth Inc. (NASDAQ:BAND) have earned a consensus recommendation of “Moderate Buy” from the eight ratings firms that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $28.33.

Several research firms recently commented on BAND. Robert W. Baird lifted their target price on shares of Bandwidth from $19.00 to $22.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. William Blair reiterated an “outperform” rating on shares of Bandwidth in a report on Friday. Needham & Company LLC reissued a “hold” rating on shares of Bandwidth in a research note on Friday. Morgan Stanley raised their target price on Bandwidth from $17.00 to $18.00 and gave the stock an “underweight” rating in a research report on Wednesday, December 18th. Finally, Barclays cut their target price on Bandwidth from $25.00 to $22.00 and set an “overweight” rating on the stock in a report on Friday.

Insider Transactions at Bandwidth

In related news, insider Devin M. Krupka sold 3,658 shares of the business’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $21.26, for a total value of $77,769.08. Following the completion of the sale, the insider now directly owns 11,097 shares of the company’s stock, valued at $235,922.22. The trade was a 24.79 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO David A. Morken sold 15,410 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $21.26, for a total value of $327,616.60. Following the transaction, the chief executive officer now directly owns 101,821 shares in the company, valued at $2,164,714.46. The trade was a 13.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 51,417 shares of company stock worth $1,063,184 over the last three months. 6.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Bandwidth by 4.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,185 shares of the company’s stock worth $241,000 after purchasing an additional 608 shares in the last quarter. Dynamic Technology Lab Private Ltd boosted its position in shares of Bandwidth by 1.6% during the fourth quarter. Dynamic Technology Lab Private Ltd now owns 43,366 shares of the company’s stock valued at $738,000 after buying an additional 699 shares during the last quarter. Los Angeles Capital Management LLC grew its holdings in Bandwidth by 3.6% during the third quarter. Los Angeles Capital Management LLC now owns 21,221 shares of the company’s stock worth $372,000 after buying an additional 740 shares in the last quarter. Quarry LP raised its position in Bandwidth by 157.6% in the 3rd quarter. Quarry LP now owns 2,035 shares of the company’s stock valued at $36,000 after buying an additional 1,245 shares during the last quarter. Finally, SG Americas Securities LLC raised its position in Bandwidth by 14.5% in the 4th quarter. SG Americas Securities LLC now owns 11,102 shares of the company’s stock valued at $189,000 after buying an additional 1,407 shares during the last quarter. 68.53% of the stock is owned by institutional investors.

Bandwidth Stock Down 2.6 %

BAND stock opened at $17.00 on Friday. The firm has a 50-day moving average price of $17.44 and a 200-day moving average price of $17.86. Bandwidth has a 12 month low of $11.90 and a 12 month high of $25.02. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.83. The stock has a market capitalization of $467.67 million, a P/E ratio of -29.82 and a beta of 1.54.

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