Bandwidth Inc. (NASDAQ:BAND) Given Consensus Recommendation of “Hold” by Analysts

Shares of Bandwidth Inc. (NASDAQ:BAND) have received a consensus rating of “Hold” from the seven ratings firms that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $28.33.

Several analysts have commented on BAND shares. Needham & Company LLC reiterated a “hold” rating on shares of Bandwidth in a research note on Friday, November 1st. JMP Securities reaffirmed a “market outperform” rating and set a $36.00 price objective on shares of Bandwidth in a research report on Tuesday, August 27th. Finally, Robert W. Baird lifted their price objective on Bandwidth from $19.00 to $22.00 and gave the stock a “neutral” rating in a report on Friday, November 1st.

Insider Buying and Selling

In other news, General Counsel Richard Brandon Asbill sold 5,561 shares of the company’s 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 completion of the sale, the general counsel now directly owns 41,825 shares in the company, valued at $889,199.50. This represents a 11.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Devin M. Krupka sold 3,658 shares of Bandwidth stock in a transaction on Friday, November 29th. The shares were sold at an average price of $21.26, for a total value of $77,769.08. Following the transaction, the insider now owns 11,097 shares in the company, valued at $235,922.22. This trade represents a 24.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 44,733 shares of company stock valued at $948,310 over the last 90 days. Company insiders own 6.20% of the company’s stock.

Institutional Trading of Bandwidth

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Innealta Capital LLC purchased a new stake in shares of Bandwidth in the second 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 valued at $32,000 after acquiring an additional 800 shares during the period. Redwood Wealth Management Group LLC bought a new position in shares of Bandwidth in the second quarter worth about $35,000. Quarry LP grew its position in shares of Bandwidth by 157.6% during the third quarter. Quarry LP now owns 2,035 shares of the company’s stock worth $36,000 after purchasing an additional 1,245 shares in the last quarter. Finally, Daiwa Securities Group Inc. purchased a new position in Bandwidth in the 2nd quarter worth approximately $57,000. Hedge funds and other institutional investors own 68.53% of the company’s stock.

Bandwidth Stock Up 2.1 %

Shares of NASDAQ:BAND opened at $20.40 on Tuesday. 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 fifty day simple moving average of $18.95 and a two-hundred day simple moving average of $18.25. Bandwidth has a 12-month low of $11.01 and a 12-month high of $25.02. The stock has a market capitalization of $561.20 million, a price-to-earnings ratio of -21.94 and a beta of 1.51.

Bandwidth (NASDAQ:BAND) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.11. Bandwidth had a negative return on equity of 0.89% and a negative net margin of 2.23%. The firm had revenue of $193.90 million during the quarter, compared to analyst estimates of $182.05 million. During the same quarter in the previous year, the firm earned $0.03 EPS. Bandwidth’s quarterly revenue was up 27.6% compared to the same quarter last year. On average, research analysts anticipate that Bandwidth will post 0.08 earnings per share for the current fiscal year.

Bandwidth Company Profile

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.