Brokerages Set Bandwidth Inc. (NASDAQ:BAND) Price Target at $25.71

Bandwidth Inc. (NASDAQ:BAND) has been assigned an average recommendation of “Hold” from the nine research firms that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and five have issued a buy recommendation on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $25.71.

Several equities research analysts recently issued reports on BAND shares. Needham & Company LLC reiterated a “hold” rating on shares of Bandwidth in a report on Friday, August 2nd. Barclays reduced their price target on shares of Bandwidth from $28.00 to $25.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. JMP Securities restated a “market outperform” rating and issued a $36.00 price objective on shares of Bandwidth in a report on Tuesday, August 27th. Robert W. Baird reduced their target price on shares of Bandwidth from $25.00 to $19.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Finally, Morgan Stanley cut shares of Bandwidth from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $18.00 to $15.00 in a research report on Friday, June 14th.

Insiders Place Their Bets

In related news, CFO Daryl Raiford sold 4,350 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $16.97, for a total transaction of $73,819.50. Following the transaction, the chief financial officer now owns 71,546 shares in the company, valued at approximately $1,214,135.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last 90 days, insiders have sold 10,294 shares of company stock valued at $185,855. 6.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Bandwidth

A number of institutional investors and hedge funds have recently made changes to their positions in BAND. Innealta Capital LLC acquired a new position in Bandwidth in the 2nd quarter valued at about $30,000. Redwood Wealth Management Group LLC purchased a new position in Bandwidth in the 2nd quarter valued at $35,000. Ameritas Investment Partners Inc. increased its stake in Bandwidth by 31.6% in the 1st quarter. Ameritas Investment Partners Inc. now owns 2,355 shares of the company’s stock valued at $43,000 after buying an additional 565 shares during the period. Daiwa Securities Group Inc. purchased a new position in Bandwidth during the 2nd quarter worth $57,000. Finally, Quest Partners LLC acquired a new stake in shares of Bandwidth in the 4th quarter worth $145,000. 68.53% of the stock is owned by hedge funds and other institutional investors.

Bandwidth Trading Up 1.1 %

BAND opened at $17.32 on Thursday. The stock has a market capitalization of $467.78 million, a PE ratio of -15.46 and a beta of 1.50. Bandwidth has a one year low of $9.34 and a one year high of $25.02. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.16 and a current ratio of 1.16. The business’s 50 day moving average price is $17.53 and its 200 day moving average price is $18.33.

Bandwidth (NASDAQ:BAND) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.29 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $174.00 million during the quarter, compared to the consensus estimate of $173.18 million. During the same period last year, the company earned ($0.09) EPS. The company’s quarterly revenue was up 19.2% on a year-over-year basis. As a group, equities research analysts expect that Bandwidth will post 0.11 EPS for the current year.

Bandwidth Company Profile

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.