Brokerages Set Bandwidth Inc. (NASDAQ:BAND) Target Price at $28.33

Bandwidth Inc. (NASDAQ:BAND) has earned a consensus rating of “Moderate Buy” from the eight ratings firms that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $28.33.

Several research analysts have recently weighed in on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Bandwidth in a research report on Friday, February 21st. William Blair reaffirmed an “outperform” rating on shares of Bandwidth in a research report on Friday, February 21st. Barclays reduced their price objective on Bandwidth from $25.00 to $22.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. Finally, Morgan Stanley upped their price objective on Bandwidth from $17.00 to $18.00 and gave the stock an “underweight” rating in a research report on Wednesday, December 18th.

Bandwidth Stock Down 1.3 %

NASDAQ:BAND opened at $15.97 on Friday. Bandwidth has a 1 year low of $13.51 and a 1 year high of $25.02. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.90. The stock has a market cap of $439.33 million, a price-to-earnings ratio of -28.02 and a beta of 1.54. The stock has a 50-day moving average price of $17.23 and a two-hundred day moving average price of $17.87.

Bandwidth (NASDAQ:BAND) last posted its earnings results on Thursday, February 20th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.36). The business had revenue of $209.97 million during the quarter, compared to analyst estimates of $203.68 million. Bandwidth had a negative net margin of 0.87% and a positive return on equity of 0.53%. During the same period in the previous year, the firm posted $0.38 earnings per share. As a group, equities analysts expect that Bandwidth will post 0.22 earnings per share for the current year.

Insider Activity at Bandwidth

In related news, CEO David A. Morken sold 2,777 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $17.39, for a total transaction of $48,292.03. Following the completion of the transaction, the chief executive officer now directly owns 109,783 shares of the company’s stock, valued at approximately $1,909,126.37. This represents a 2.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Daryl Raiford sold 4,371 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 93,451 shares of the company’s stock, valued at $1,934,435.70. This trade represents a 4.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,160 shares of company stock valued at $207,320. Insiders own 6.20% of the company’s stock.

Institutional Trading of Bandwidth

Institutional investors and hedge funds have recently bought and sold shares of the business. Covestor Ltd bought a new stake in Bandwidth in the fourth quarter valued at approximately $25,000. Quarry LP raised its stake in 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 period. New Age Alpha Advisors LLC bought a new stake in Bandwidth in the fourth quarter valued at approximately $50,000. SBI Securities Co. Ltd. bought a new stake in Bandwidth in the fourth quarter valued at approximately $69,000. Finally, Meeder Asset Management Inc. bought a new stake in Bandwidth in the third quarter valued at approximately $74,000. Institutional investors own 68.53% of the company’s stock.

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.