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

Shares of Bandwidth Inc. (NASDAQ:BAND) have been assigned a consensus recommendation of “Hold” from the seven brokerages that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $28.83.

BAND has been the subject of a number of research reports. Robert W. Baird increased their target price on shares of Bandwidth from $19.00 to $22.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Needham & Company LLC reissued a “hold” rating on shares of Bandwidth in a research report on Friday, November 1st. Finally, Morgan Stanley boosted their target price on Bandwidth from $17.00 to $18.00 and gave the company an “underweight” rating in a research note on Wednesday, December 18th.

Bandwidth Price Performance

Bandwidth stock opened at $18.19 on Wednesday. Bandwidth has a 52 week low of $11.90 and a 52 week high of $25.02. The company’s 50 day moving average price is $18.19 and its two-hundred day moving average price is $18.07. The stock has a market cap of $500.41 million, a P/E ratio of -19.56 and a beta of 1.52. 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 issued its quarterly earnings results on Thursday, October 31st. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.11. The business had revenue of $193.90 million for the quarter, compared to analyst estimates of $182.05 million. Bandwidth had a negative return on equity of 0.89% and a negative net margin of 2.23%. Bandwidth’s quarterly revenue was up 27.6% compared to the same quarter last year. During the same period last year, the company posted $0.03 earnings per share. On average, equities analysts predict that Bandwidth will post 0.08 earnings per share for the current year.

Insider Activity at Bandwidth

In related news, General Counsel Richard Brandon Asbill sold 5,561 shares of Bandwidth stock in a transaction on Friday, November 29th. The stock was 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. This trade represents a 11.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David A. Morken sold 15,410 shares of the company’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 $327,616.60. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 51,522 shares of company stock worth $1,065,151. 6.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. nVerses Capital LLC raised its position 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 purchasing an additional 800 shares in the last quarter. Quarry LP raised its holdings in shares of Bandwidth by 157.6% during 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 in the last quarter. Meeder Asset Management Inc. bought a new stake in Bandwidth in the 3rd quarter worth approximately $74,000. Quest Partners LLC purchased a new stake in Bandwidth in the third quarter worth approximately $118,000. Finally, SG Americas Securities LLC raised its stake in shares of 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 acquiring an additional 1,407 shares in the last quarter. Hedge funds and other institutional investors own 68.53% of the company’s stock.

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.