Bandwidth Inc. (NASDAQ:BAND) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Bandwidth Inc. (NASDAQ:BAND) has earned an average rating of “Moderate Buy” from the eight ratings firms that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and five have given a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $28.33.

A number of analysts have weighed in on BAND shares. William Blair reiterated an “outperform” rating on shares of Bandwidth in a research note on Friday, February 21st. Morgan Stanley upped their price target on shares of Bandwidth from $17.00 to $18.00 and gave the stock an “underweight” rating in a report on Wednesday, December 18th. Barclays lowered their price objective on shares of Bandwidth from $25.00 to $22.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. Finally, Needham & Company LLC restated a “hold” rating on shares of Bandwidth in a research note on Friday, February 21st.

Insiders Place Their Bets

In other Bandwidth news, General Counsel Richard Brandon Asbill sold 9,878 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $15.24, for a total transaction of $150,540.72. Following the sale, the general counsel now owns 42,475 shares of the company’s stock, valued at approximately $647,319. This trade represents a 18.87 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David A. Morken sold 2,777 shares of Bandwidth stock in a transaction on Monday, January 6th. The shares were sold at an average price of $17.39, for a total value of $48,292.03. Following the completion of the transaction, the chief executive officer now owns 109,783 shares in the company, valued at $1,909,126.37. This represents a 2.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 70,510 shares of company stock worth $1,109,806 in the last three months. Corporate insiders own 6.20% of the company’s stock.

Institutional Trading of Bandwidth

Several hedge funds have recently modified their holdings of BAND. Covestor Ltd purchased a new position in shares of Bandwidth in the 4th quarter worth approximately $25,000. Quarry LP lifted its position in Bandwidth by 157.6% during the third quarter. Quarry LP now owns 2,035 shares of the company’s stock valued at $36,000 after acquiring an additional 1,245 shares during the last quarter. New Age Alpha Advisors LLC acquired a new stake in Bandwidth in the fourth quarter valued at approximately $50,000. SBI Securities Co. Ltd. purchased a new position in Bandwidth in the fourth quarter worth $69,000. Finally, Meeder Asset Management Inc. acquired a new position in shares of Bandwidth during the third quarter worth $74,000. 68.53% of the stock is owned by hedge funds and other institutional investors.

Bandwidth Stock Performance

Shares of NASDAQ:BAND opened at $14.73 on Thursday. 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 capitalization of $421.63 million, a price-to-earnings ratio of -25.84 and a beta of 1.57. Bandwidth has a 12 month low of $13.51 and a 12 month high of $25.02. The firm’s 50-day moving average is $16.58 and its 200 day moving average is $17.67.

Bandwidth (NASDAQ:BAND) last released its earnings results on Thursday, February 20th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.36). Bandwidth had a negative net margin of 0.87% and a positive return on equity of 0.53%. The business had revenue of $209.97 million for the quarter, compared to the consensus estimate of $203.68 million. During the same period in the prior year, the company posted $0.38 EPS. 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.