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

Shares of Bandwidth Inc. (NASDAQ:BAND) have received a consensus rating of “Hold” from the seven brokerages that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $28.83.

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

Insider Buying and Selling

In other Bandwidth news, CFO Daryl Raiford sold 4,371 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $20.70, for a total transaction of $90,479.70. Following the transaction, the chief financial officer now owns 93,451 shares of the company’s stock, valued at approximately $1,934,435.70. This trade represents a 4.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO David A. Morken sold 2,777 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $17.39, for a total transaction of $48,292.03. Following the transaction, the chief executive officer now directly owns 109,783 shares in the company, valued at $1,909,126.37. This trade represents a 2.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 51,023 shares of company stock valued at $1,057,162 in the last 90 days. Company insiders own 6.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. nVerses Capital LLC grew its position in shares of Bandwidth by 80.0% in the 3rd quarter. nVerses Capital LLC now owns 1,800 shares of the company’s stock worth $32,000 after buying an additional 800 shares during the last quarter. Quarry LP grew its position in shares of Bandwidth by 157.6% in the 3rd quarter. Quarry LP now owns 2,035 shares of the company’s stock worth $36,000 after buying an additional 1,245 shares during the last quarter. Redwood Wealth Management Group LLC purchased a new position in shares of Bandwidth in the 2nd quarter worth approximately $35,000. Daiwa Securities Group Inc. purchased a new position in shares of Bandwidth in the 2nd quarter worth approximately $57,000. Finally, Meeder Asset Management Inc. purchased a new position in shares of Bandwidth in the 3rd quarter worth approximately $74,000. Hedge funds and other institutional investors own 68.53% of the company’s stock.

Bandwidth Price Performance

BAND stock opened at $16.00 on Friday. Bandwidth has a 52 week low of $11.90 and a 52 week high of $25.02. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.83. The company has a fifty day simple moving average of $18.94 and a two-hundred day simple moving average of $18.11. The firm has a market capitalization of $440.16 million, a P/E ratio of -17.20 and a beta of 1.52.

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