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

Bandwidth Inc. (NASDAQ:BAND) has received a consensus recommendation of “Moderate Buy” from the seven brokerages that are presently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $19.71.

BAND has been the topic of several recent research reports. Canaccord Genuity Group raised their price objective on Bandwidth from $36.00 to $38.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. KeyCorp increased their target price on Bandwidth from $16.00 to $21.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. Finally, Barclays increased their target price on Bandwidth from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th.

Bandwidth Stock Up 1.5 %

BAND stock opened at $18.04 on Monday. Bandwidth has a fifty-two week low of $9.34 and a fifty-two week high of $21.68. The business’s 50-day moving average is $17.62 and its two-hundred day moving average is $14.40. The company has a debt-to-equity ratio of 1.41, a quick ratio of 2.06 and a current ratio of 2.06. The company has a market cap of $473.91 million, a price-to-earnings ratio of -17.18 and a beta of 1.48.

Bandwidth (NASDAQ:BAND) last posted its quarterly earnings data on Wednesday, February 28th. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.01). Bandwidth had a negative return on equity of 3.10% and a negative net margin of 2.72%. The company had revenue of $165.00 million during the quarter, compared to the consensus estimate of $154.17 million. During the same period last year, the business earned $0.04 EPS. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. As a group, analysts forecast that Bandwidth will post 0.19 earnings per share for the current year.

Insider Buying and Selling at Bandwidth

In other news, COO Anthony Bartolo sold 7,798 shares of the business’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $18.75, for a total value of $146,212.50. Following the completion of the transaction, the chief operating officer now directly owns 76,469 shares of the company’s stock, valued at approximately $1,433,793.75. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders sold a total of 12,556 shares of company stock valued at $239,567 in the last ninety days. Corporate insiders own 5.80% of the company’s stock.

Institutional Trading of Bandwidth

Large investors have recently added to or reduced their stakes in the company. Swiss National Bank lifted its holdings in shares of Bandwidth by 3.0% in the 3rd quarter. Swiss National Bank now owns 51,900 shares of the company’s stock valued at $585,000 after buying an additional 1,500 shares during the period. Headlands Technologies LLC lifted its holdings in shares of Bandwidth by 21.3% in the 3rd quarter. Headlands Technologies LLC now owns 9,315 shares of the company’s stock valued at $105,000 after buying an additional 1,636 shares during the period. Parcion Private Wealth LLC lifted its holdings in shares of Bandwidth by 1.0% in the 4th quarter. Parcion Private Wealth LLC now owns 216,428 shares of the company’s stock valued at $3,132,000 after buying an additional 2,153 shares during the period. Olympiad Research LP lifted its holdings in shares of Bandwidth by 65.4% in the 4th quarter. Olympiad Research LP now owns 16,917 shares of the company’s stock valued at $245,000 after buying an additional 6,686 shares during the period. Finally, DekaBank Deutsche Girozentrale acquired a new position in shares of Bandwidth in the 3rd quarter valued at about $75,000. Hedge funds and other institutional investors own 68.53% of the company’s stock.

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.