Bandwidth Inc. (NASDAQ:BAND) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Bandwidth Inc. (NASDAQ:BAND) have been assigned an average recommendation of “Moderate Buy” from the eight analysts that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $28.33.

Several analysts recently commented on BAND shares. Morgan Stanley upped their price target 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. William Blair reaffirmed an “outperform” rating on shares of Bandwidth in a report on Friday, February 21st. Barclays lowered their price target on Bandwidth from $25.00 to $22.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Bandwidth in a research note on Friday, February 21st.

Insider Transactions at Bandwidth

In other Bandwidth news, CEO David A. Morken sold 2,777 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $17.39, for a total value of $48,292.03. Following the completion of the sale, the chief executive officer now owns 109,783 shares of the company’s stock, valued at approximately $1,909,126.37. This trade represents a 2.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Richard Brandon Asbill sold 5,629 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $15.70, for a total transaction of $88,375.30. Following the transaction, the general counsel now directly owns 57,475 shares in the company, valued at approximately $902,357.50. This trade represents a 8.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 70,510 shares of company stock worth $1,109,806 over the last ninety days. 6.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Bandwidth

Several institutional investors have recently modified their holdings of BAND. Covestor Ltd acquired a new position in shares of Bandwidth during the 4th quarter worth $25,000. Quarry LP raised its position in Bandwidth by 157.6% during the third quarter. Quarry LP now owns 2,035 shares of the company’s stock worth $36,000 after acquiring an additional 1,245 shares during the last quarter. New Age Alpha Advisors LLC purchased a new stake in shares of Bandwidth in the fourth quarter valued at about $50,000. SBI Securities Co. Ltd. acquired a new stake in shares of Bandwidth in the fourth quarter valued at approximately $69,000. Finally, Meeder Asset Management Inc. purchased a new position in shares of Bandwidth during the 3rd quarter worth approximately $74,000. Hedge funds and other institutional investors own 68.53% of the company’s stock.

Bandwidth Price Performance

Bandwidth stock opened at $15.26 on Thursday. 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 company has a fifty day simple moving average of $16.59 and a 200-day simple moving average of $17.67. The stock has a market cap of $436.80 million, a P/E ratio of -26.77 and a beta of 1.57. Bandwidth has a 12-month low of $13.51 and a 12-month high of $25.02.

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