Analysts Set Bandwidth Inc. (NASDAQ:BAND) PT at $28.33

Bandwidth Inc. (NASDAQ:BAND) has been given a consensus recommendation of “Hold” by the seven analysts that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $28.33.

A number of research firms have weighed in on BAND. Needham & Company LLC reaffirmed a “hold” rating on shares of Bandwidth in a research report on Friday, November 1st. Robert W. Baird raised their price target on Bandwidth from $19.00 to $22.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. JMP Securities reiterated a “market outperform” rating and set a $36.00 price objective on shares of Bandwidth in a research note on Tuesday, August 27th. Finally, Barclays cut their price target on shares of Bandwidth from $28.00 to $25.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd.

Insider Transactions at Bandwidth

In other news, CFO Daryl Raiford sold 4,350 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at approximately $1,214,135.62. This trade represents a 5.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last quarter, insiders sold 8,630 shares of company stock valued at $148,515. Corporate insiders own 6.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Acadian Asset Management LLC grew its holdings in Bandwidth by 15.7% during the first quarter. Acadian Asset Management LLC now owns 341,303 shares of the company’s stock worth $6,231,000 after buying an additional 46,342 shares in the last quarter. Hsbc Holdings PLC boosted its holdings in Bandwidth by 143.9% during the 2nd quarter. Hsbc Holdings PLC now owns 55,259 shares of the company’s stock worth $929,000 after acquiring an additional 32,598 shares during the last quarter. Squarepoint Ops LLC bought a new stake in shares of Bandwidth in the 2nd quarter worth $1,113,000. Panagora Asset Management Inc. raised its holdings in shares of Bandwidth by 50.0% in the second quarter. Panagora Asset Management Inc. now owns 139,592 shares of the company’s stock valued at $2,356,000 after purchasing an additional 46,547 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Bandwidth by 100.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,132 shares of the company’s stock valued at $386,000 after purchasing an additional 10,571 shares in the last quarter. 68.53% of the stock is currently owned by institutional investors and hedge funds.

Bandwidth Price Performance

Shares of BAND opened at $18.57 on Friday. The stock has a 50 day simple moving average of $17.95 and a 200 day simple moving average of $18.39. Bandwidth has a 52-week low of $10.60 and a 52-week high of $25.02. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.29 and a current ratio of 1.29. The firm has a market capitalization of $510.86 million, a PE ratio of -19.97 and a beta of 1.50.

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

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.