Shares of Bandwidth Inc. (NASDAQ:BAND – Get Free Report) have received a consensus rating of “Hold” from the ten ratings firms that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and five have given a buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $25.63.
BAND has been the topic of several analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Bandwidth in a research report on Friday, May 10th. Robert W. Baird lifted their price target on shares of Bandwidth from $21.00 to $25.00 and gave the company a “neutral” rating in a research report on Wednesday, May 8th. Morgan Stanley lowered shares of Bandwidth from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $18.00 to $15.00 in a research report on Friday, June 14th. KeyCorp lifted their target price on shares of Bandwidth from $21.00 to $32.00 and gave the company an “overweight” rating in a report on Wednesday, May 8th. Finally, JMP Securities lifted their target price on shares of Bandwidth from $32.00 to $36.00 and gave the company a “market outperform” rating in a report on Wednesday, May 8th.
Read Our Latest Stock Report on Bandwidth
Insider Activity at Bandwidth
Hedge Funds Weigh In On Bandwidth
A number of institutional investors and hedge funds have recently modified their holdings of BAND. Ameritas Investment Partners Inc. grew its stake in shares of Bandwidth by 31.6% during the first quarter. Ameritas Investment Partners Inc. now owns 2,355 shares of the company’s stock worth $43,000 after purchasing an additional 565 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in Bandwidth in the third quarter valued at $75,000. Quest Partners LLC purchased a new stake in Bandwidth in the fourth quarter valued at $145,000. Bayesian Capital Management LP purchased a new stake in Bandwidth in the first quarter valued at $187,000. Finally, Resurgent Financial Advisors LLC lifted its position in Bandwidth by 4.6% in the first quarter. Resurgent Financial Advisors LLC now owns 11,840 shares of the company’s stock valued at $216,000 after acquiring an additional 520 shares during the last quarter. Institutional investors and hedge funds own 68.53% of the company’s stock.
Bandwidth Trading Up 1.8 %
BAND opened at $15.47 on Tuesday. The company has a debt-to-equity ratio of 1.41, a current ratio of 2.36 and a quick ratio of 2.36. The company’s 50 day simple moving average is $19.43 and its two-hundred day simple moving average is $16.73. Bandwidth has a 1-year low of $9.34 and a 1-year high of $25.02. The firm has a market capitalization of $417.84 million, a price-to-earnings ratio of -13.81 and a beta of 1.49.
Bandwidth (NASDAQ:BAND – Get Free Report) last released its earnings results on Tuesday, May 7th. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.08). The business had revenue of $171.03 million during the quarter, compared to analysts’ expectations of $165.10 million. Bandwidth had a negative return on equity of 2.49% and a negative net margin of 4.60%. Analysts expect that Bandwidth will post 0.22 EPS for the current fiscal 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.
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