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

Shares of Bandwidth Inc. (NASDAQ:BAND) have received a consensus rating of “Hold” from the seven ratings firms that are covering the stock, MarketBeat Ratings 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 1 year target price among brokers that have updated their coverage on the stock in the last year is $28.33.

Several equities research analysts have recently issued reports on the company. Robert W. Baird lifted their target price on Bandwidth from $19.00 to $22.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Needham & Company LLC reaffirmed a “hold” rating on shares of Bandwidth in a research note on Friday, November 1st. Finally, JMP Securities reiterated a “market outperform” rating and set a $36.00 target price on shares of Bandwidth in a research report on Tuesday, August 27th.

Bandwidth Price Performance

NASDAQ:BAND opened at $18.71 on Tuesday. The business’s 50-day simple moving average is $19.13 and its two-hundred day simple moving average is $18.24. Bandwidth has a 52 week low of $11.90 and a 52 week high of $25.02. The stock has a market cap of $514.71 million, a PE ratio of -20.12 and a beta of 1.51. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.83.

Bandwidth (NASDAQ:BAND) last issued its 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. Bandwidth had a negative return on equity of 0.89% and a negative net margin of 2.23%. The company had revenue of $193.90 million for the quarter, compared to the consensus estimate of $182.05 million. During the same quarter last year, the company earned $0.03 EPS. The firm’s quarterly revenue was up 27.6% on a year-over-year basis. As a group, analysts forecast that Bandwidth will post 0.08 EPS for the current fiscal year.

Insider Buying and Selling at Bandwidth

In other Bandwidth news, insider Devin M. Krupka sold 3,658 shares of Bandwidth stock in a transaction on Friday, November 29th. The shares were sold at an average price of $21.26, for a total transaction of $77,769.08. Following the completion of the transaction, the insider now directly owns 11,097 shares of the company’s stock, valued at $235,922.22. The trade was a 24.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Daryl Raiford sold 4,371 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $20.70, for a total transaction of $90,479.70. Following the completion of the sale, the chief financial officer now directly owns 93,451 shares in the company, valued at approximately $1,934,435.70. This represents a 4.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 44,733 shares of company stock worth $948,310 over the last ninety days. Company insiders own 6.20% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of BAND. Hsbc Holdings PLC raised its holdings in shares of Bandwidth by 143.9% in the second quarter. Hsbc Holdings PLC now owns 55,259 shares of the company’s stock worth $929,000 after buying an additional 32,598 shares during the period. FMR LLC increased its stake in Bandwidth by 70.3% in the third quarter. FMR LLC now owns 371,215 shares of the company’s stock worth $6,500,000 after purchasing an additional 153,223 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in shares of Bandwidth during the third quarter worth $747,000. Squarepoint Ops LLC purchased a new stake in shares of Bandwidth during the second quarter valued at $1,113,000. Finally, Panagora Asset Management Inc. boosted its stake in shares of Bandwidth by 50.0% during 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 period. Hedge funds and other 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.