Bandwidth Inc. (NASDAQ:BAND) Given Average Recommendation of “Hold” by Analysts

Shares of Bandwidth Inc. (NASDAQ:BAND) have received an average recommendation of “Hold” from the seven research firms that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and four have given a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $28.33.

Several brokerages have recently weighed in on BAND. Needham & Company LLC restated a “hold” rating on shares of Bandwidth in a research note on Friday, November 1st. JMP Securities restated a “market outperform” rating and set a $36.00 price objective on shares of Bandwidth in a research note on Tuesday, August 27th. Barclays cut their target price on Bandwidth from $28.00 to $25.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Finally, 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 research report on Friday, November 1st.

Bandwidth Stock Down 2.4 %

Shares of Bandwidth stock opened at $18.83 on Friday. The company has a fifty day moving average price of $17.87 and a 200 day moving average price of $18.38. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.83. Bandwidth has a twelve month low of $10.60 and a twelve month high of $25.02. The stock has a market cap of $518.01 million, a price-to-earnings ratio of -20.25 and a beta of 1.50.

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

Insider Activity

In related news, CFO Daryl Raiford sold 4,350 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $16.97, for a total transaction of $73,819.50. Following the completion of the transaction, the chief financial officer now owns 71,546 shares in the company, valued at $1,214,135.62. The trade was a 5.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last three months, insiders sold 8,630 shares of company stock valued at $148,515. Company insiders own 6.20% of the company’s stock.

Institutional Investors Weigh In On Bandwidth

A number of hedge funds have recently added to or reduced their stakes in the stock. Innealta Capital LLC acquired a new position in shares of Bandwidth during the second quarter worth approximately $30,000. nVerses Capital LLC boosted its position in Bandwidth by 80.0% during the 3rd quarter. nVerses Capital LLC now owns 1,800 shares of the company’s stock worth $32,000 after acquiring an additional 800 shares during the period. Redwood Wealth Management Group LLC bought a new position in shares of Bandwidth in the second quarter worth $35,000. Ameritas Investment Partners Inc. increased its holdings in shares of Bandwidth by 31.6% during the first quarter. Ameritas Investment Partners Inc. now owns 2,355 shares of the company’s stock valued at $43,000 after purchasing an additional 565 shares during the period. Finally, Daiwa Securities Group Inc. bought a new stake in shares of Bandwidth during the second quarter valued at about $57,000. 68.53% of the stock is currently owned by institutional investors.

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.