Bandwidth Inc. (NASDAQ:BAND) Receives $20.80 Consensus PT from Analysts

Bandwidth Inc. (NASDAQ:BAND) has earned an average rating of “Moderate Buy” from the six analysts that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $20.80.

Several equities analysts recently weighed in on BAND shares. William Blair reiterated an “outperform” rating on shares of Bandwidth in a research report on Friday, February 21st. Barclays lowered their price objective on Bandwidth from $25.00 to $22.00 and set an “overweight” rating on the stock in a research report on Friday, February 21st. Morgan Stanley reduced their target price on shares of Bandwidth from $18.00 to $11.00 and set an “underweight” rating for the company in a report on Wednesday, April 16th. JMP Securities reaffirmed a “market outperform” rating and set a $36.00 price target on shares of Bandwidth in a report on Thursday. Finally, Needham & Company LLC began coverage on shares of Bandwidth in a research note on Wednesday, May 7th. They issued a “buy” rating and a $20.00 price objective for the company.

Insider Buying and Selling

In other Bandwidth news, General Counsel Richard Brandon Asbill sold 9,878 shares of Bandwidth stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $15.24, for a total value of $150,540.72. Following the sale, the general counsel now directly owns 42,475 shares in the company, valued at approximately $647,319. The trade was a 18.87% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Daryl Raiford sold 24,253 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $15.58, for a total transaction of $377,861.74. Following the transaction, the chief financial officer now directly owns 113,795 shares of the company’s stock, valued at $1,772,926.10. This trade represents a 17.57% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 63,721 shares of company stock worth $992,965. 6.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Bandwidth

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Covestor Ltd bought a new stake in Bandwidth in the 4th quarter worth approximately $25,000. New Age Alpha Advisors LLC bought a new position in shares of Bandwidth during the 4th quarter valued at approximately $50,000. SBI Securities Co. Ltd. purchased a new position in shares of Bandwidth in the fourth quarter valued at $69,000. Harbor Capital Advisors Inc. bought a new stake in Bandwidth in the first quarter worth $72,000. Finally, US Bancorp DE increased its position in Bandwidth by 11,281.3% in the first quarter. US Bancorp DE now owns 5,463 shares of the company’s stock worth $72,000 after purchasing an additional 5,415 shares during the last quarter. 68.53% of the stock is owned by institutional investors.

Bandwidth Stock Performance

BAND opened at $14.60 on Friday. The company’s 50 day moving average is $13.31 and its 200 day moving average is $16.43. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.90. The company has a market cap of $417.91 million, a price-to-earnings ratio of -25.61 and a beta of 1.88. Bandwidth has a 12-month low of $11.33 and a 12-month high of $23.90.

Bandwidth (NASDAQ:BAND) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.07. Bandwidth had a negative net margin of 0.87% and a positive return on equity of 0.53%. The business had revenue of $174.24 million for the quarter, compared to analysts’ expectations of $168.96 million. During the same quarter last year, the company posted $0.27 EPS. The company’s revenue was up 1.8% compared to the same quarter last year. On average, equities research analysts predict that Bandwidth will post 0.22 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.