Brokerages Set Bandwidth Inc. (NASDAQ:BAND) Price Target at $28.83

Shares of Bandwidth Inc. (NASDAQ:BAND) have been given an average recommendation of “Hold” by the seven brokerages that are covering the stock, 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 analysts that have issued ratings on the stock in the last year is $28.83.

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

Insider Activity

In other news, General Counsel Richard Brandon Asbill sold 5,561 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 $118,226.86. Following the completion of the sale, the general counsel now directly owns 41,825 shares in the company, valued at approximately $889,199.50. This trade represents a 11.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David A. Morken sold 2,777 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was 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 owns 109,783 shares in the company, valued at approximately $1,909,126.37. The trade was a 2.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 51,023 shares of company stock worth $1,057,162. 6.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. nVerses Capital LLC grew its position in shares of 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 buying an additional 800 shares in the last quarter. Quarry LP grew its holdings in Bandwidth by 157.6% during the 3rd quarter. Quarry LP now owns 2,035 shares of the company’s stock worth $36,000 after acquiring an additional 1,245 shares in the last quarter. Redwood Wealth Management Group LLC purchased a new position in Bandwidth during the 2nd quarter valued at about $35,000. Daiwa Securities Group Inc. bought a new stake in shares of Bandwidth in the 2nd quarter valued at about $57,000. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Bandwidth in the 3rd quarter worth approximately $74,000. Institutional investors own 68.53% of the company’s stock.

Bandwidth Trading Up 0.1 %

Bandwidth stock opened at $16.43 on Friday. The business has a 50-day simple moving average of $19.05 and a two-hundred day simple moving average of $18.13. 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 market cap of $451.99 million, a P/E ratio of -17.67 and a beta of 1.52.

Bandwidth (NASDAQ:BAND) last announced its earnings results on Thursday, October 31st. The company reported $0.43 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 analysts’ expectations of $182.05 million. Bandwidth had a negative net margin of 2.23% and a negative return on equity of 0.89%. The firm’s revenue was up 27.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.03 earnings per share. Analysts predict that Bandwidth will post 0.08 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.