Bandwidth Inc. (NASDAQ:BAND) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Bandwidth Inc. (NASDAQ:BAND) have been assigned an average recommendation of “Hold” from the seven brokerages that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $28.83.

Several equities analysts have commented on BAND shares. Needham & Company LLC reissued a “hold” rating on shares of Bandwidth in a research report on Friday, November 1st. Robert W. Baird raised their target price on Bandwidth from $19.00 to $22.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Finally, Morgan Stanley boosted their price target on shares of Bandwidth from $17.00 to $18.00 and gave the stock an “underweight” rating in a report on Wednesday, December 18th.

Insider Transactions at Bandwidth

In related news, CEO David A. Morken sold 15,410 shares of the company’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $21.26, for a total transaction of $327,616.60. Following the completion of the sale, the chief executive officer now directly owns 101,821 shares in the company, valued at $2,164,714.46. This represents a 13.14 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel Richard Brandon Asbill sold 5,561 shares of the business’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $21.26, for a total value of $118,226.86. Following the completion of the transaction, the general counsel now directly owns 41,825 shares of the company’s stock, valued at approximately $889,199.50. This trade represents a 11.74 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 44,733 shares of company stock valued at $948,310. Insiders own 6.20% of the company’s stock.

Hedge Funds Weigh In On Bandwidth

Hedge funds and other institutional investors have recently modified their holdings of the stock. Hsbc Holdings PLC increased its stake in Bandwidth by 143.9% in the 2nd quarter. Hsbc Holdings PLC now owns 55,259 shares of the company’s stock worth $929,000 after acquiring an additional 32,598 shares during the last quarter. FMR LLC grew its stake in shares of Bandwidth by 70.3% in the 3rd quarter. FMR LLC now owns 371,215 shares of the company’s stock worth $6,500,000 after buying an additional 153,223 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Bandwidth in the 3rd quarter worth about $747,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Bandwidth by 38.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 267,367 shares of the company’s stock valued at $4,682,000 after acquiring an additional 73,795 shares during the last quarter. Finally, State Street Corp grew its position in Bandwidth by 3.7% in the third quarter. State Street Corp now owns 655,768 shares of the company’s stock worth $11,482,000 after acquiring an additional 23,352 shares in the last quarter. Institutional investors own 68.53% of the company’s stock.

Bandwidth Trading Up 1.9 %

NASDAQ:BAND opened at $17.02 on Friday. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.29 and a quick ratio of 1.29. Bandwidth has a one year low of $11.90 and a one year high of $25.02. The company has a market cap of $468.22 million, a PE ratio of -18.30 and a beta of 1.51. The firm has a 50-day moving average of $19.12 and a 200-day moving average of $18.07.

Bandwidth (NASDAQ:BAND) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.11. The business had revenue of $193.90 million during the quarter, compared to the consensus estimate of $182.05 million. Bandwidth had a negative return on equity of 0.89% and a negative net margin of 2.23%. Bandwidth’s revenue was up 27.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.03 earnings per share. As a group, equities research analysts expect that Bandwidth will post 0.08 EPS 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.