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

Shares of Bandwidth Inc. (NASDAQ:BAND) have earned a consensus rating of “Hold” from the seven research firms that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $28.83.

A number of research analysts recently issued reports on BAND shares. Morgan Stanley lifted their price target on Bandwidth from $17.00 to $18.00 and gave the company an “underweight” rating in a report on Wednesday, December 18th. Needham & Company LLC reaffirmed a “hold” rating on shares of Bandwidth in a report on Friday, November 1st. Finally, Robert W. Baird increased their price target on Bandwidth from $19.00 to $22.00 and gave the company a “neutral” rating in a research note on Friday, November 1st.

Insider Buying and Selling at Bandwidth

In related news, CFO Daryl Raiford sold 4,371 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $20.70, for a total value of $90,479.70. Following the sale, the chief financial officer now directly owns 93,451 shares in the company, valued at $1,934,435.70. This represents a 4.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO David A. Morken sold 15,410 shares of Bandwidth stock in a transaction on Friday, November 29th. The stock was sold at an average price of $21.26, for a total transaction of $327,616.60. Following the transaction, the chief executive officer now directly owns 101,821 shares of the company’s stock, valued at $2,164,714.46. This represents a 13.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 51,417 shares of company stock valued at $1,063,184 in the last quarter. Company insiders own 6.20% of the company’s stock.

Institutional Trading of Bandwidth

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. nVerses Capital LLC increased its stake in Bandwidth by 80.0% during the 3rd quarter. nVerses Capital LLC now owns 1,800 shares of the company’s stock valued at $32,000 after purchasing an additional 800 shares in the last quarter. Quarry LP grew its holdings in shares of Bandwidth by 157.6% during the third quarter. Quarry LP now owns 2,035 shares of the company’s stock valued at $36,000 after buying an additional 1,245 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in shares of Bandwidth during the third quarter worth about $74,000. Quest Partners LLC acquired a new stake in shares of Bandwidth in the 3rd quarter worth about $118,000. Finally, Centiva Capital LP bought a new position in Bandwidth in the 3rd quarter valued at about $191,000. 68.53% of the stock is owned by institutional investors.

Bandwidth Trading Down 1.1 %

Shares of Bandwidth stock opened at $17.77 on Wednesday. Bandwidth has a 52-week low of $11.90 and a 52-week high of $25.02. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.29 and a quick ratio of 1.29. The firm has a market capitalization of $488.85 million, a PE ratio of -19.11 and a beta of 1.52. The company’s fifty day moving average price is $18.11 and its two-hundred day moving average price is $18.02.

Bandwidth (NASDAQ:BAND) last issued its earnings results on Thursday, October 31st. The company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.32 by $0.11. Bandwidth had a negative net margin of 2.23% and a negative return on equity of 0.89%. The company had revenue of $193.90 million for the quarter, compared to the consensus estimate of $182.05 million. During the same quarter in the previous year, the company earned $0.03 EPS. The firm’s revenue for the quarter was up 27.6% compared to the same quarter last year. On average, analysts expect that Bandwidth will post 0.08 EPS for the current 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.