Bandwidth Inc. (NASDAQ:BAND) Receives Consensus Recommendation of “Hold” from Analysts

Bandwidth Inc. (NASDAQ:BAND) has been given a consensus recommendation of “Hold” by the seven ratings firms that are covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $20.60.

Several research analysts have recently weighed in on BAND shares. Weiss Ratings restated a “sell (d-)” rating on shares of Bandwidth in a report on Wednesday, January 21st. B. Riley Financial started coverage on Bandwidth in a research report on Friday, January 23rd. They set a “buy” rating and a $20.00 price objective on the stock. Finally, Wall Street Zen lowered Bandwidth from a “buy” rating to a “hold” rating in a research note on Sunday, December 14th.

Bandwidth Stock Performance

BAND opened at $16.86 on Monday. The firm has a market capitalization of $529.18 million, a PE ratio of -39.21 and a beta of 2.14. Bandwidth has a twelve month low of $11.33 and a twelve month high of $18.63. The firm’s 50-day moving average price is $14.62 and its 200 day moving average price is $15.09. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.62.

Insider Activity at Bandwidth

In other news, CFO Daryl E. Raiford sold 17,026 shares of Bandwidth stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $15.47, for a total transaction of $263,392.22. Following the transaction, the chief financial officer owned 52,745 shares in the company, valued at $815,965.15. The trade was a 24.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Bandwidth

Institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC grew its stake in shares of Bandwidth by 8.9% in the 2nd quarter. Geode Capital Management LLC now owns 648,763 shares of the company’s stock valued at $10,318,000 after buying an additional 52,762 shares during the period. Rhumbline Advisers raised its position in shares of Bandwidth by 15.0% during the 2nd quarter. Rhumbline Advisers now owns 40,927 shares of the company’s stock valued at $651,000 after buying an additional 5,324 shares during the period. Quantbot Technologies LP acquired a new position in Bandwidth in the second quarter valued at approximately $128,000. Arrowstreet Capital Limited Partnership lifted its holdings in Bandwidth by 26.6% in the second quarter. Arrowstreet Capital Limited Partnership now owns 373,153 shares of the company’s stock valued at $5,933,000 after acquiring an additional 78,360 shares during the last quarter. Finally, Invesco Ltd. grew its position in Bandwidth by 4.7% in the second quarter. Invesco Ltd. now owns 56,367 shares of the company’s stock worth $896,000 after acquiring an additional 2,532 shares during the period. 68.53% of the stock is owned by hedge funds and other institutional investors.

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.