Analysts Set Bandwidth Inc. (NASDAQ:BAND) PT at $19.71

Bandwidth Inc. (NASDAQ:BAND) has been assigned a consensus recommendation of “Moderate Buy” from the seven ratings firms that are presently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $19.71.

Several equities research analysts have issued reports on the company. Barclays increased their target price on Bandwidth from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. Canaccord Genuity Group increased their target price on Bandwidth from $36.00 to $38.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. Finally, KeyCorp increased their price objective on Bandwidth from $16.00 to $21.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th.

Insider Buying and Selling

In related news, COO Anthony Bartolo sold 7,798 shares of the stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $18.75, for a total value of $146,212.50. Following the sale, the chief operating officer now owns 76,469 shares in the company, valued at $1,433,793.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last quarter, insiders have sold 13,034 shares of company stock worth $245,788. Corporate insiders own 5.80% of the company’s stock.

Institutional Investors Weigh In On Bandwidth

Large investors have recently added to or reduced their stakes in the company. Acadian Asset Management LLC purchased a new stake in Bandwidth during the first quarter valued at about $58,000. Quarry LP raised its position in Bandwidth by 310.6% during the first quarter. Quarry LP now owns 2,008 shares of the company’s stock valued at $31,000 after purchasing an additional 1,519 shares in the last quarter. Point72 Middle East FZE purchased a new stake in Bandwidth during the fourth quarter valued at about $51,000. Tower Research Capital LLC TRC raised its position in Bandwidth by 36.8% during the third quarter. Tower Research Capital LLC TRC now owns 2,946 shares of the company’s stock valued at $36,000 after purchasing an additional 792 shares in the last quarter. Finally, DHJJ Financial Advisors Ltd. purchased a new stake in Bandwidth during the third quarter valued at about $34,000. Hedge funds and other institutional investors own 68.53% of the company’s stock.

Bandwidth Trading Down 0.2 %

NASDAQ:BAND opened at $17.47 on Thursday. The company has a market cap of $458.95 million, a P/E ratio of -16.64 and a beta of 1.48. The stock’s fifty day moving average price is $16.55 and its two-hundred day moving average price is $13.70. Bandwidth has a 1 year low of $9.34 and a 1 year high of $21.68. The company has a debt-to-equity ratio of 1.41, a current ratio of 2.06 and a quick ratio of 2.06.

Bandwidth (NASDAQ:BAND) last posted its earnings results on Wednesday, February 28th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.01). The company had revenue of $165.00 million for the quarter, compared to analysts’ expectations of $154.17 million. Bandwidth had a negative return on equity of 3.10% and a negative net margin of 2.72%. The company’s revenue was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.04 EPS. As a group, analysts expect that Bandwidth will post 0.2 EPS for the current 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.