Bandwidth Inc. (NASDAQ:BAND) Receives $19.71 Consensus Target Price from Analysts

Shares of Bandwidth Inc. (NASDAQ:BAND) have been given a consensus recommendation of “Moderate Buy” by the seven research firms that are covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month price objective among analysts that have issued ratings 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 target price 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 Price Performance

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

Bandwidth (NASDAQ:BAND) last announced its quarterly earnings data on Wednesday, February 28th. The company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.01). Bandwidth had a negative net margin of 2.72% and a negative return on equity of 3.10%. The firm had revenue of $165.00 million for the quarter, compared to the consensus estimate of $154.17 million. During the same period last year, the company posted $0.04 earnings per share. Bandwidth’s revenue for the quarter was up 5.1% on a year-over-year basis. Analysts anticipate that Bandwidth will post 0.2 earnings per share 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.