Bandwidth Inc. (NASDAQ:BAND) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Bandwidth Inc. (NASDAQ:BAND) have been given an average rating of “Hold” by the nine ratings firms that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $25.71.

BAND has been the subject of several recent analyst reports. Barclays reduced their price objective on shares of Bandwidth from $28.00 to $25.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. JMP Securities restated a “market outperform” rating and issued a $36.00 price objective on shares of Bandwidth in a research note on Tuesday, August 27th. Robert W. Baird dropped their price objective on Bandwidth from $25.00 to $19.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Bandwidth in a research report on Friday, August 2nd.

Bandwidth Stock Performance

NASDAQ:BAND opened at $19.30 on Monday. Bandwidth has a 12 month low of $9.34 and a 12 month 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 firm has a market capitalization of $521.25 million, a PE ratio of -17.23 and a beta of 1.51. The business’s fifty day moving average price is $17.08 and its 200 day moving average price is $18.22.

Bandwidth (NASDAQ:BAND) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.01. Bandwidth had a negative return on equity of 1.89% and a negative net margin of 3.21%. The business had revenue of $174.00 million for the quarter, compared to the consensus estimate of $173.18 million. During the same quarter in the prior year, the business posted ($0.09) EPS. The business’s revenue for the quarter was up 19.2% on a year-over-year basis. On average, sell-side analysts anticipate that Bandwidth will post 0.11 earnings per share for the current fiscal year.

Insider Transactions at Bandwidth

In related news, CFO Daryl Raiford sold 1,769 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The stock was 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 trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last quarter, insiders sold 10,294 shares of company stock worth $185,855. Company insiders own 6.20% of the company’s stock.

Hedge Funds Weigh In On Bandwidth

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Innealta Capital LLC purchased a new position in Bandwidth during the 2nd quarter worth $30,000. nVerses Capital LLC raised its holdings in Bandwidth by 80.0% during the third quarter. nVerses Capital LLC now owns 1,800 shares of the company’s stock worth $32,000 after purchasing an additional 800 shares in the last quarter. Redwood Wealth Management Group LLC acquired a new stake in Bandwidth in the second quarter valued at about $35,000. Ameritas Investment Partners Inc. boosted its holdings in Bandwidth by 31.6% in the 1st quarter. Ameritas Investment Partners Inc. now owns 2,355 shares of the company’s stock valued at $43,000 after purchasing an additional 565 shares in the last quarter. Finally, Daiwa Securities Group Inc. acquired a new position in Bandwidth during the 2nd quarter worth approximately $57,000. 68.53% of the stock is currently owned by hedge funds and other institutional investors.

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.