Analysts Set Bandwidth Inc. (NASDAQ:BAND) PT at $25.71

Shares of Bandwidth Inc. (NASDAQ:BAND) have received an average recommendation of “Hold” from the nine research firms that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $25.71.

Several research firms recently issued reports on BAND. KeyCorp increased their price target on shares of Bandwidth from $21.00 to $32.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 8th. Morgan Stanley downgraded Bandwidth from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $18.00 to $15.00 in a report on Friday, June 14th. Robert W. Baird lowered their price target on Bandwidth from $25.00 to $19.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. JMP Securities reaffirmed a “market outperform” rating and issued a $36.00 price objective on shares of Bandwidth in a research note on Tuesday, August 27th. Finally, Canaccord Genuity Group boosted their target price on Bandwidth from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th.

Insider Transactions at Bandwidth

In other Bandwidth news, Director Lukas M. Roush purchased 4,963 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was purchased at an average cost of $16.12 per share, for a total transaction of $80,003.56. Following the transaction, the director now owns 43,167 shares in the company, valued at approximately $695,852.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CFO Daryl Raiford sold 1,769 shares of Bandwidth stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $22.22, for a total value of $39,307.18. Following the transaction, the chief financial officer now directly owns 63,397 shares of the company’s stock, valued at $1,408,681.34. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Lukas M. Roush bought 4,963 shares of the firm’s stock in a transaction on Friday, June 14th. The shares were purchased at an average cost of $16.12 per share, with a total value of $80,003.56. Following the transaction, the director now directly owns 43,167 shares in the company, valued at approximately $695,852.04. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 13,794 shares of company stock worth $245,075. Insiders own 6.20% of the company’s stock.

Institutional Investors Weigh In On Bandwidth

Institutional investors have recently modified their holdings of the company. Innealta Capital LLC bought a new position in Bandwidth during the second quarter worth $30,000. Redwood Wealth Management Group LLC acquired a new position in shares of Bandwidth in the 2nd quarter valued at about $35,000. Ameritas Investment Partners Inc. boosted its position in shares of Bandwidth by 31.6% during the 1st quarter. Ameritas Investment Partners Inc. now owns 2,355 shares of the company’s stock valued at $43,000 after purchasing an additional 565 shares in the last quarter. Daiwa Securities Group Inc. acquired a new stake in Bandwidth during the second quarter worth approximately $57,000. Finally, Quest Partners LLC bought a new stake in Bandwidth in the fourth quarter worth approximately $145,000. 68.53% of the stock is owned by institutional investors.

Bandwidth Price Performance

Shares of NASDAQ BAND opened at $16.88 on Friday. The business has a fifty day moving average price of $17.88 and a two-hundred day moving average price of $18.31. The stock has a market capitalization of $460.82 million, a PE ratio of -15.07 and a beta of 1.48. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.16 and a quick ratio of 1.16. Bandwidth has a fifty-two week low of $9.34 and a fifty-two week high of $25.02.

Bandwidth (NASDAQ:BAND) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.01. Bandwidth had a negative return on equity of 1.89% and a negative net margin of 3.21%. The business had revenue of $174.00 million during the quarter, compared to the consensus estimate of $173.18 million. During the same quarter in the previous year, the firm earned ($0.09) earnings per share. Bandwidth’s revenue for the quarter was up 19.2% compared to the same quarter last year. As a group, equities analysts predict that Bandwidth will post 0.11 earnings per share for the current fiscal 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.