Bandwidth Inc. (NASDAQ:BAND) Receives Average Recommendation of “Moderate Buy” from Brokerages

Bandwidth Inc. (NASDAQ:BAND) has earned a consensus recommendation of “Moderate Buy” from the eight analysts that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $28.33.

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

Insider Activity at Bandwidth

In related news, General Counsel Richard Brandon Asbill sold 5,629 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $15.70, for a total value of $88,375.30. Following the sale, the general counsel now owns 57,475 shares in the company, valued at approximately $902,357.50. The trade was a 8.92 % 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, CEO David A. Morken sold 2,777 shares of the company’s 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 sale, the chief executive officer now directly owns 109,783 shares in the company, valued at approximately $1,909,126.37. The trade was a 2.47 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 70,510 shares of company stock valued at $1,109,806. Insiders own 6.20% of the company’s stock.

Institutional Trading of Bandwidth

Large investors have recently made changes to their positions in the business. Covestor Ltd purchased a new position in Bandwidth in the fourth quarter worth about $25,000. Quarry LP lifted its stake in shares of Bandwidth by 157.6% in the 3rd quarter. Quarry LP now owns 2,035 shares of the company’s stock valued at $36,000 after purchasing an additional 1,245 shares during the last quarter. New Age Alpha Advisors LLC purchased a new position in shares of Bandwidth in the 4th quarter worth approximately $50,000. SBI Securities Co. Ltd. bought a new position in shares of Bandwidth during the 4th quarter valued at approximately $69,000. Finally, Meeder Asset Management Inc. bought a new position in shares of Bandwidth during the 3rd quarter valued at approximately $74,000. 68.53% of the stock is currently owned by institutional investors.

Bandwidth Stock Performance

NASDAQ:BAND opened at $14.73 on Thursday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.34 and a current ratio of 1.34. The stock has a 50-day simple moving average of $16.58 and a two-hundred day simple moving average of $17.67. The firm has a market capitalization of $421.63 million, a PE ratio of -25.84 and a beta of 1.57. Bandwidth has a 52-week low of $13.51 and a 52-week high of $25.02.

Bandwidth (NASDAQ:BAND) last announced 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). Bandwidth had a negative net margin of 0.87% and a positive return on equity of 0.53%. The company had revenue of $209.97 million for the quarter, compared to the consensus estimate of $203.68 million. During the same quarter last year, the firm posted $0.38 earnings per share. Analysts forecast that Bandwidth will post 0.22 EPS for the current 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.