Brokerages Set Bandwidth Inc. (NASDAQ:BAND) Target Price at $28.83

Shares of Bandwidth Inc. (NASDAQ:BAND) have received a consensus rating of “Hold” from the seven research firms that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $28.83.

A number of research firms recently commented on BAND. Robert W. Baird lifted their target price on shares of Bandwidth from $19.00 to $22.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Needham & Company LLC restated a “hold” rating on shares of Bandwidth in a research note on Friday, November 1st. Finally, Morgan Stanley lifted their price objective on shares of Bandwidth from $17.00 to $18.00 and gave the company an “underweight” rating in a research note on Wednesday, December 18th.

Insider Activity at Bandwidth

In related news, General Counsel Richard Brandon Asbill sold 5,561 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $21.26, for a total value of $118,226.86. Following the completion of the sale, the general counsel now owns 41,825 shares of the company’s stock, valued at approximately $889,199.50. The trade was a 11.74 % 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, CFO Daryl Raiford sold 4,371 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $20.70, for a total transaction of $90,479.70. Following the completion of 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 disclosure for this sale can be found here. Insiders sold a total of 51,023 shares of company stock worth $1,057,162 in the last three months. Company insiders own 6.20% of the company’s stock.

Institutional Investors Weigh In On Bandwidth

A number of large investors have recently modified their holdings of BAND. Los Angeles Capital Management LLC raised its position in shares of Bandwidth by 3.6% in the third quarter. Los Angeles Capital Management LLC now owns 21,221 shares of the company’s stock valued at $372,000 after buying an additional 740 shares during the last quarter. nVerses Capital LLC raised its position in shares of Bandwidth by 80.0% in the third quarter. nVerses Capital LLC now owns 1,800 shares of the company’s stock valued at $32,000 after buying an additional 800 shares during the last quarter. Quarry LP raised its position in shares of Bandwidth by 157.6% in the third quarter. Quarry LP now owns 2,035 shares of the company’s stock valued at $36,000 after buying an additional 1,245 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its position in Bandwidth by 2.7% during the second quarter. Mercer Global Advisors Inc. ADV now owns 50,374 shares of the company’s stock worth $850,000 after purchasing an additional 1,342 shares during the last quarter. Finally, Versor Investments LP increased its position in Bandwidth by 14.0% during the second quarter. Versor Investments LP now owns 15,157 shares of the company’s stock worth $256,000 after purchasing an additional 1,857 shares during the last quarter. Hedge funds and other institutional investors own 68.53% of the company’s stock.

Bandwidth Stock Down 2.6 %

BAND stock opened at $16.00 on Friday. The firm has a 50 day moving average of $18.94 and a 200 day moving average of $18.11. The stock has a market capitalization of $440.16 million, a PE ratio of -17.20 and a beta of 1.52. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.83. Bandwidth has a 52 week low of $11.90 and a 52 week high of $25.02.

Bandwidth (NASDAQ:BAND) last released its earnings results on Thursday, October 31st. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.11. The company had revenue of $193.90 million during the quarter, compared to analysts’ expectations of $182.05 million. Bandwidth had a negative net margin of 2.23% and a negative return on equity of 0.89%. Bandwidth’s revenue for the quarter was up 27.6% on a year-over-year basis. During the same period last year, the business earned $0.03 EPS. Sell-side analysts forecast that Bandwidth will post 0.08 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.