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

Shares of Bandwidth Inc. (NASDAQ:BAND) have earned a consensus recommendation of “Hold” from the seven analysts that are currently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $20.60.

A number of research firms have recently weighed in on BAND. B. Riley Financial initiated coverage on Bandwidth in a research report on Friday, January 23rd. They set a “buy” rating and a $20.00 target price for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Bandwidth in a research report on Wednesday, January 21st. Finally, Wall Street Zen lowered shares of Bandwidth from a “buy” rating to a “hold” rating in a report on Sunday, December 14th.

Institutional Trading of Bandwidth

Hedge funds have recently made changes to their positions in the company. Deutsche Bank AG raised its holdings in Bandwidth by 6.0% during the 4th quarter. Deutsche Bank AG now owns 18,343 shares of the company’s stock worth $283,000 after purchasing an additional 1,043 shares during the last quarter. Principal Financial Group Inc. increased its stake in Bandwidth by 6.1% during the 3rd quarter. Principal Financial Group Inc. now owns 19,383 shares of the company’s stock valued at $323,000 after purchasing an additional 1,114 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its holdings in shares of Bandwidth by 2.1% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 53,681 shares of the company’s stock worth $895,000 after acquiring an additional 1,129 shares during the last quarter. Harbor Capital Advisors Inc. grew its holdings in Bandwidth by 30.3% during the third quarter. Harbor Capital Advisors Inc. now owns 7,509 shares of the company’s stock worth $125,000 after buying an additional 1,748 shares in the last quarter. Finally, Bailard Inc. raised its position in Bandwidth by 11.0% in the 3rd quarter. Bailard Inc. now owns 19,200 shares of the company’s stock valued at $320,000 after buying an additional 1,900 shares during the last quarter. 68.53% of the stock is owned by institutional investors and hedge funds.

Bandwidth Trading Up 5.7%

Shares of BAND stock opened at $16.45 on Thursday. Bandwidth has a 12-month low of $11.33 and a 12-month high of $18.63. The company has a market capitalization of $516.37 million, a PE ratio of -38.25 and a beta of 2.14. The firm has a 50 day moving average price of $14.12 and a two-hundred day moving average price of $14.97. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.62.

About Bandwidth

Bandwidth Inc operates a cloud-based communications platform that provides voice, messaging and emergency services APIs for enterprises and developers. Through its proprietary network and software-as-a-service model, the company enables customers to integrate programmable voice calls, text messaging and 9-1-1 routing into their applications. Bandwidth’s solutions aim to reduce complexity and improve reliability in mission-critical communications, serving industries such as healthcare, financial services, on-demand mobility and customer engagement.

Founded in 1999 in Raleigh, North Carolina by co-founders David Morken and Henry Kaestner, Bandwidth initially focused on voice-over-IP infrastructure before evolving into a full communications API provider.