Bandwidth’s (BAND) “Hold” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of Bandwidth (NASDAQ:BAND) in a report published on Friday, Benzinga reports.

A number of other analysts have also recently weighed in on the stock. JMP Securities reaffirmed a “market outperform” rating and set a $36.00 target price on shares of Bandwidth in a research note on Tuesday, August 27th. Robert W. Baird cut their price target on Bandwidth from $25.00 to $19.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Finally, Barclays cut their target price on shares of Bandwidth from $28.00 to $25.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $26.14.

Bandwidth Stock Performance

NASDAQ:BAND traded down $0.80 during mid-day trading on Friday, reaching $18.70. 434,547 shares of the company’s stock were exchanged, compared to its average volume of 313,033. The business’s fifty day simple moving average is $17.50 and its two-hundred day simple moving average is $18.28. Bandwidth has a one year low of $10.22 and a one year high of $25.02. The firm has a market capitalization of $510.47 million, a PE ratio of -20.11 and a beta of 1.51. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.16 and a current ratio of 1.16.

Bandwidth (NASDAQ:BAND) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.01. Bandwidth had a negative return on equity of 1.89% and a negative net margin of 3.21%. The business had revenue of $174.00 million during the quarter, compared to the consensus estimate of $173.18 million. During the same quarter in the previous year, the firm earned ($0.09) earnings per share. Bandwidth’s revenue for the quarter was up 19.2% compared to the same quarter last year. Analysts anticipate that Bandwidth will post 0.11 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Daryl Raiford sold 4,350 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $16.97, for a total value of $73,819.50. Following the sale, the chief financial officer now directly owns 71,546 shares of the company’s stock, valued at $1,214,135.62. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders sold 8,525 shares of company stock worth $146,548. 6.20% of the stock is owned by corporate insiders.

Institutional Trading of Bandwidth

A number of hedge funds have recently made changes to their positions in BAND. Resurgent Financial Advisors LLC increased its holdings in shares of Bandwidth by 4.6% in the 1st quarter. Resurgent Financial Advisors LLC now owns 11,840 shares of the company’s stock worth $216,000 after purchasing an additional 520 shares in the last quarter. Ameritas Investment Partners Inc. increased 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 buying an additional 565 shares during the last quarter. nVerses Capital LLC raised its position in Bandwidth by 80.0% in the third quarter. nVerses Capital LLC now owns 1,800 shares of the company’s stock worth $32,000 after acquiring an additional 800 shares during the period. Price T Rowe Associates Inc. MD raised its position in Bandwidth by 10.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 14,713 shares of the company’s stock worth $269,000 after acquiring an additional 1,334 shares during the period. Finally, Mercer Global Advisors Inc. ADV boosted its stake in shares of Bandwidth by 2.7% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 50,374 shares of the company’s stock worth $850,000 after acquiring an additional 1,342 shares during the last quarter. 68.53% of the stock is owned by institutional investors.

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.