Bandwidth Inc. (NASDAQ:BAND) Receives $28.83 Consensus Price Target from Analysts

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

Several brokerages have recently issued reports on BAND. Needham & Company LLC reaffirmed a “hold” rating on shares of Bandwidth in a research note on Friday, November 1st. Morgan Stanley upped their target price on shares of Bandwidth from $17.00 to $18.00 and gave the company an “underweight” rating in a research report on Wednesday, December 18th. Finally, Robert W. Baird raised their price target on Bandwidth from $19.00 to $22.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st.

Insider Activity

In related news, CFO Daryl Raiford sold 4,371 shares of the company’s stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 93,451 shares of the company’s stock, valued at approximately $1,934,435.70. This represents a 4.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Richard Brandon Asbill sold 5,561 shares of the stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $21.26, for a total value of $118,226.86. Following the transaction, the general counsel now owns 41,825 shares of the company’s stock, valued at approximately $889,199.50. This trade represents a 11.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 51,522 shares of company stock valued at $1,065,151 in the last quarter. Company insiders own 6.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of BAND. nVerses Capital LLC lifted its stake in Bandwidth by 80.0% in the 3rd quarter. nVerses Capital LLC now owns 1,800 shares of the company’s stock valued at $32,000 after acquiring an additional 800 shares in the last quarter. Quarry LP raised its holdings 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 purchasing an additional 1,245 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in shares of Bandwidth in the third quarter worth $74,000. Quest Partners LLC acquired a new position in Bandwidth during the third quarter worth $118,000. Finally, Centiva Capital LP bought a new position in Bandwidth in the third quarter valued at $191,000. 68.53% of the stock is owned by institutional investors and hedge funds.

Bandwidth Stock Down 1.1 %

NASDAQ:BAND opened at $17.77 on Wednesday. The stock’s fifty day moving average price is $18.11 and its two-hundred day moving average price is $18.05. The company has a market cap of $488.85 million, a price-to-earnings ratio of -19.11 and a beta of 1.52. Bandwidth has a 52-week low of $11.90 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.

Bandwidth (NASDAQ:BAND) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.11. The business had revenue of $193.90 million for the quarter, compared to analysts’ expectations of $182.05 million. Bandwidth had a negative return on equity of 0.89% and a negative net margin of 2.23%. The firm’s quarterly revenue was up 27.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.03 earnings per share. On average, analysts anticipate that Bandwidth will post 0.08 EPS for the current 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.