Bandwidth Inc. (NASDAQ:BAND) Receives Consensus Rating of “Moderate Buy” from Analysts

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

Several equities research analysts have weighed in on the company. William Blair reissued an “outperform” rating on shares of Bandwidth in a report on Friday, February 21st. Morgan Stanley lifted their target price on shares of Bandwidth from $17.00 to $18.00 and gave the stock an “underweight” rating in a research note on Wednesday, December 18th. Needham & Company LLC restated a “hold” rating on shares of Bandwidth in a research note on Friday, February 21st. Robert W. Baird raised their price target on shares of Bandwidth from $19.00 to $22.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Finally, Barclays dropped their price objective on shares of Bandwidth from $25.00 to $22.00 and set an “overweight” rating on the stock in a report on Friday, February 21st.

Insider Transactions at Bandwidth

In related news, 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 sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO David A. Morken sold 2,777 shares of Bandwidth stock in a transaction on Monday, January 6th. The shares were 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 $1,909,126.37. The trade was a 2.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,160 shares of company stock worth $207,320 over the last 90 days. 6.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Bandwidth

A number of hedge funds have recently bought and sold shares of the business. Assenagon Asset Management S.A. raised its stake in shares of Bandwidth by 185.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 341,921 shares of the company’s stock worth $5,987,000 after buying an additional 222,142 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Bandwidth by 61.8% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 524,586 shares of the company’s stock worth $8,928,000 after acquiring an additional 200,387 shares in the last quarter. FMR LLC raised its position in Bandwidth by 70.3% during the third quarter. FMR LLC now owns 371,215 shares of the company’s stock worth $6,500,000 after acquiring an additional 153,223 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in Bandwidth by 88.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 285,559 shares of the company’s stock valued at $4,860,000 after purchasing an additional 133,715 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Bandwidth by 9.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,249,120 shares of the company’s stock valued at $21,260,000 after purchasing an additional 112,269 shares during the period. Hedge funds and other institutional investors own 68.53% of the company’s stock.

Bandwidth Price Performance

BAND opened at $16.18 on Friday. The firm has a market capitalization of $445.11 million, a PE ratio of -28.39 and a beta of 1.54. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.34 and a quick ratio of 1.34. The business’s 50-day moving average is $17.31 and its two-hundred day moving average is $17.88. Bandwidth has a 1 year low of $13.51 and a 1 year high of $25.02.

Bandwidth (NASDAQ:BAND) last issued its quarterly earnings data 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 firm had revenue of $209.97 million during the quarter, compared to analysts’ expectations 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 firm earned $0.38 EPS. Research analysts anticipate that Bandwidth will post 0.22 earnings per share 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.