Bandwidth Inc. (NASDAQ:BAND) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Bandwidth Inc. (NASDAQ:BAND) has been given an average recommendation of “Moderate Buy” by the eight analysts that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and five have given a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $28.33.

Several equities research analysts recently commented on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Bandwidth in a report on Friday, February 21st. William Blair reaffirmed an “outperform” rating on shares of Bandwidth in a research note on Friday, February 21st. Barclays lowered their price target on shares of Bandwidth from $25.00 to $22.00 and set an “overweight” rating on the stock in a research report on Friday, February 21st. Robert W. Baird upped their price objective on shares of Bandwidth from $19.00 to $22.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Finally, Morgan Stanley lifted their target price on shares of Bandwidth from $17.00 to $18.00 and gave the stock an “underweight” rating in a research note on Wednesday, December 18th.

Bandwidth Price Performance

Shares of NASDAQ BAND opened at $16.18 on Friday. The firm has a 50-day simple moving average of $17.31 and a 200-day simple moving average of $17.88. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.90. The stock has a market capitalization of $445.11 million, a price-to-earnings ratio of -28.39 and a beta of 1.54. Bandwidth has a 52 week low of $13.51 and a 52 week high of $25.02.

Bandwidth (NASDAQ:BAND) last released its quarterly earnings data 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 during the quarter, compared to analyst estimates of $203.68 million. During the same quarter in the previous year, the company posted $0.38 EPS. On average, equities analysts predict that Bandwidth will post 0.22 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Daryl Raiford sold 4,371 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $20.70, for a total value of $90,479.70. Following the sale, the chief financial officer now directly owns 93,451 shares of the company’s stock, valued at approximately $1,934,435.70. The trade was a 4.47 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David A. Morken sold 2,777 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $17.39, for a total transaction of $48,292.03. Following the transaction, the chief executive officer now directly owns 109,783 shares of the company’s stock, valued at $1,909,126.37. The trade was a 2.47 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,160 shares of company stock valued at $207,320. 6.20% of the stock is currently owned by insiders.

Institutional Trading of Bandwidth

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Covestor Ltd acquired a new stake in shares of Bandwidth in the fourth quarter valued at $25,000. Quarry LP boosted its holdings in Bandwidth by 157.6% during the 3rd 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 period. New Age Alpha Advisors LLC purchased a new position in Bandwidth during the 4th quarter valued at about $50,000. SBI Securities Co. Ltd. acquired a new position in Bandwidth in the 4th quarter valued at about $69,000. Finally, Meeder Asset Management Inc. purchased a new stake in Bandwidth during the third quarter worth about $74,000. Hedge funds and other institutional investors own 68.53% of the company’s stock.

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.