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

Bandwidth Inc. (NASDAQ:BAND) has received an average recommendation of “Moderate Buy” from the eight ratings firms that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $28.33.

BAND has been the topic of a number of recent analyst reports. Barclays lowered their target price on shares of Bandwidth from $25.00 to $22.00 and set an “overweight” rating on the stock in a report on Friday. Morgan Stanley boosted their price objective on shares of Bandwidth from $17.00 to $18.00 and gave the stock an “underweight” rating in a research note on Wednesday, December 18th. William Blair reiterated an “outperform” rating on shares of Bandwidth in a research note on Friday. Needham & Company LLC reiterated a “hold” rating on shares of Bandwidth in a report on Friday. Finally, Robert W. Baird upped their price objective on Bandwidth from $19.00 to $22.00 and gave the company a “neutral” rating in a research note on Friday, November 1st.

Bandwidth Stock Down 2.6 %

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

Bandwidth (NASDAQ:BAND) last released its earnings results on Thursday, February 20th. The company reported $0.02 earnings per share (EPS) 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 company posted $0.38 EPS. As a group, equities research analysts predict that Bandwidth will post 0.22 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Bandwidth news, CEO David A. Morken sold 15,410 shares of the stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $21.26, for a total transaction of $327,616.60. Following the transaction, the chief executive officer now owns 101,821 shares in the company, valued at $2,164,714.46. This represents a 13.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Richard Brandon Asbill sold 5,561 shares of Bandwidth stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $21.26, for a total transaction of $118,226.86. Following the completion of the sale, the general counsel now owns 41,825 shares of the company’s stock, valued at approximately $889,199.50. The trade was a 11.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 51,417 shares of company stock valued at $1,063,184. Insiders own 6.20% of the company’s stock.

Hedge Funds Weigh In On Bandwidth

A number of hedge funds have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Bandwidth by 4.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,185 shares of the company’s stock valued at $241,000 after buying an additional 608 shares in the last quarter. Dynamic Technology Lab Private Ltd increased its stake in Bandwidth by 1.6% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 43,366 shares of the company’s stock valued at $738,000 after acquiring an additional 699 shares during the last quarter. Los Angeles Capital Management LLC raised its position in Bandwidth by 3.6% during the third quarter. Los Angeles Capital Management LLC now owns 21,221 shares of the company’s stock valued at $372,000 after purchasing an additional 740 shares in the last quarter. Quarry LP lifted its stake in 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 during the last quarter. Finally, SG Americas Securities LLC lifted its stake in Bandwidth by 14.5% during the fourth quarter. SG Americas Securities LLC now owns 11,102 shares of the company’s stock worth $189,000 after purchasing an additional 1,407 shares during the last quarter. Institutional investors own 68.53% of the company’s stock.

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.