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

Shares of Bandwidth Inc. (NASDAQ:BAND) have been assigned a consensus recommendation of “Hold” from the nine brokerages that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $25.71.

Several equities analysts recently issued reports on the company. Robert W. Baird reduced their price objective on Bandwidth from $25.00 to $19.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Bandwidth in a research note on Friday, August 2nd. JMP Securities reissued a “market outperform” rating and issued a $36.00 price objective on shares of Bandwidth in a research note on Tuesday, August 27th. Finally, Barclays cut their target price on shares of Bandwidth from $28.00 to $25.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd.

Insider Buying and Selling at Bandwidth

In other news, CFO Daryl Raiford sold 1,769 shares of Bandwidth stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $22.22, for a total transaction of $39,307.18. Following the completion of the sale, the chief financial officer now directly owns 63,397 shares in the company, valued at $1,408,681.34. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In the last ninety days, insiders have sold 10,294 shares of company stock worth $185,855. Corporate insiders own 6.20% of the company’s stock.

Institutional Trading of Bandwidth

Hedge funds have recently bought and sold shares of the company. Los Angeles Capital Management LLC purchased a new position in shares of Bandwidth during the 1st quarter worth $364,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in Bandwidth by 100.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,132 shares of the company’s stock valued at $386,000 after buying an additional 10,571 shares during the period. BNP Paribas Financial Markets increased its stake in shares of Bandwidth by 84.4% during the 1st quarter. BNP Paribas Financial Markets now owns 13,690 shares of the company’s stock valued at $250,000 after acquiring an additional 6,266 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in shares of Bandwidth during the 1st quarter worth about $1,143,000. Finally, Vanguard Group Inc. grew its holdings in Bandwidth by 1.1% in the first quarter. Vanguard Group Inc. now owns 1,536,051 shares of the company’s stock valued at $28,048,000 after purchasing an additional 16,181 shares during the period. Institutional investors and hedge funds own 68.53% of the company’s stock.

Bandwidth Stock Performance

NASDAQ:BAND opened at $19.30 on Monday. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.91. Bandwidth has a fifty-two week low of $9.34 and a fifty-two week high of $25.02. The firm’s fifty day simple moving average is $17.08 and its 200-day simple moving average is $18.22. The stock has a market cap of $521.25 million, a PE ratio of -17.23 and a beta of 1.51.

Bandwidth (NASDAQ:BAND) last issued its earnings results on Thursday, August 1st. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.01. Bandwidth had a negative net margin of 3.21% and a negative return on equity of 1.89%. The company had revenue of $174.00 million for the quarter, compared to analyst estimates of $173.18 million. During the same period in the prior year, the business posted ($0.09) earnings per share. The firm’s revenue for the quarter was up 19.2% compared to the same quarter last year. Analysts expect 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.