Analysts Set Bandwidth Inc. (NASDAQ:BAND) Target Price at $25.63

Shares of Bandwidth Inc. (NASDAQ:BAND) 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.

Insider Activity at Bandwidth

In other Bandwidth news, Director Lukas M. Roush purchased 4,963 shares of the company’s stock in a transaction on Friday, June 14th. The stock was acquired at an average price of $16.12 per share, for a total transaction of $80,003.56. Following the completion of the purchase, the director now directly owns 43,167 shares in the company, valued at approximately $695,852.04. The purchase was disclosed in a filing with the SEC, which is available through this link. In other Bandwidth news, CEO David A. Morken sold 1,290 shares of the business’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $20.40, for a total value of $26,316.00. Following the completion of the transaction, the chief executive officer now owns 78,864 shares in the company, valued at $1,608,825.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Lukas M. Roush purchased 4,963 shares of the company’s stock in a transaction on Friday, June 14th. The stock was acquired at an average price of $16.12 per share, with a total value of $80,003.56. Following the purchase, the director now owns 43,167 shares of the company’s stock, valued at $695,852.04. The disclosure for this purchase can be found here. In the last quarter, insiders sold 27,729 shares of company stock worth $566,540. Insiders own 6.20% of the company’s stock.

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) 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.