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

Bandwidth Inc. (NASDAQ:BAND) has earned an average recommendation of “Hold” from the seven brokerages that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and four have given a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $28.33.

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

Insider Buying and Selling at Bandwidth

In other news, CFO Daryl Raiford sold 4,350 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $16.97, for a total transaction of $73,819.50. Following the transaction, the chief financial officer now owns 71,546 shares in the company, valued at approximately $1,214,135.62. This trade represents a 5.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 8,630 shares of company stock valued at $148,515 in the last quarter. Company insiders own 6.20% of the company’s stock.

Hedge Funds Weigh In On Bandwidth

Hedge funds have recently bought and sold shares of the business. Innealta Capital LLC acquired a new stake in shares of Bandwidth in the second quarter worth about $30,000. nVerses Capital LLC lifted its holdings in Bandwidth by 80.0% in the 3rd quarter. nVerses Capital LLC now owns 1,800 shares of the company’s stock worth $32,000 after purchasing an additional 800 shares during the last quarter. Redwood Wealth Management Group LLC bought a new stake in Bandwidth during the second quarter worth approximately $35,000. Ameritas Investment Partners Inc. grew its holdings in Bandwidth by 31.6% during 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. Finally, Daiwa Securities Group Inc. bought a new position in shares of Bandwidth in the second quarter valued at approximately $57,000. 68.53% of the stock is owned by institutional investors and hedge funds.

Bandwidth Stock Down 2.4 %

BAND opened at $18.83 on Friday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.29 and a current ratio of 1.29. The company has a market capitalization of $518.01 million, a PE ratio of -20.25 and a beta of 1.50. The stock’s fifty day moving average is $17.87 and its 200-day moving average is $18.38. Bandwidth has a one year low of $10.60 and a one year high of $25.02.

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