Bandwidth Inc. (NASDAQ:BAND) Receives $28.33 Consensus PT from Analysts

Shares of Bandwidth Inc. (NASDAQ:BAND) have earned a consensus recommendation of “Hold” from the seven ratings firms that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $28.33.

Several research analysts recently commented on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Bandwidth in a research report on Friday, November 1st. Barclays cut their price target on shares of Bandwidth from $28.00 to $25.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. JMP Securities reissued a “market outperform” rating and issued a $36.00 target price on shares of Bandwidth in a report on Tuesday, August 27th. Finally, Robert W. Baird boosted their price target on Bandwidth from $19.00 to $22.00 and gave the company a “neutral” rating in a research note on Friday, November 1st.

Insider Buying and Selling

In other Bandwidth news, CFO Daryl Raiford sold 4,350 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $16.97, for a total transaction of $73,819.50. Following the sale, the chief financial officer now owns 71,546 shares of the company’s stock, valued at $1,214,135.62. This represents a 5.73 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 8,630 shares of company stock worth $148,515 in the last three months. Insiders own 6.20% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of BAND. Innealta Capital LLC bought a new position in shares of Bandwidth in the 2nd quarter valued at about $30,000. nVerses Capital LLC raised its position in shares of Bandwidth by 80.0% during the 3rd 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 last quarter. Redwood Wealth Management Group LLC acquired a new position in shares of Bandwidth in the 2nd quarter valued at $35,000. Quarry LP grew its stake 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 during the period. Finally, Ameritas Investment Partners Inc. increased its holdings in Bandwidth by 31.6% in the first 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 during the last quarter. Institutional investors and hedge funds own 68.53% of the company’s stock.

Bandwidth Price Performance

NASDAQ BAND opened at $18.57 on Friday. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.29 and a quick ratio of 1.29. The firm has a market capitalization of $510.86 million, a price-to-earnings ratio of -19.97 and a beta of 1.50. The company has a 50 day simple moving average of $17.95 and a 200-day simple moving average of $18.39. Bandwidth has a 52-week low of $10.60 and a 52-week high of $25.02.

Bandwidth (NASDAQ:BAND) last posted its earnings results on Thursday, October 31st. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.11. The firm had revenue of $193.90 million during the quarter, compared to analysts’ expectations of $182.05 million. Bandwidth had a negative net margin of 2.23% and a negative return on equity of 0.89%. The company’s revenue was up 27.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.03 earnings per share. Equities research analysts predict 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.