Bandwidth Inc. (NASDAQ:BAND) Given Consensus Rating of “Moderate Buy” by Brokerages

Bandwidth Inc. (NASDAQ:BAND) has been given an average recommendation of “Moderate Buy” by the eight brokerages that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $28.33.

A number of analysts recently commented on the stock. Barclays lowered their target price on shares of Bandwidth from $25.00 to $22.00 and set an “overweight” rating for the company in a research note on Friday, February 21st. Needham & Company LLC restated a “hold” rating on shares of Bandwidth in a research note on Friday, February 21st. Morgan Stanley lifted their price objective on shares of Bandwidth from $17.00 to $18.00 and gave the company an “underweight” rating in a research note on Wednesday, December 18th. Finally, William Blair restated an “outperform” rating on shares of Bandwidth in a research note on Friday, February 21st.

Insider Buying and Selling

In other Bandwidth news, General Counsel Richard Brandon Asbill sold 9,878 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $15.24, for a total transaction of $150,540.72. Following the completion of the transaction, the general counsel now directly owns 42,475 shares in the company, valued at approximately $647,319. This represents a 18.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Daryl Raiford sold 24,253 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $15.58, for a total transaction of $377,861.74. Following the transaction, the chief financial officer now owns 113,795 shares of the company’s stock, valued at $1,772,926.10. This represents a 17.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 70,510 shares of company stock valued at $1,109,806. Corporate insiders own 6.20% of the company’s stock.

Hedge Funds Weigh In On Bandwidth

A number of large investors have recently added to or reduced their stakes in BAND. Covestor Ltd acquired a new stake in shares of Bandwidth in the fourth quarter valued at about $25,000. Quarry LP increased its position in Bandwidth by 157.6% during the third quarter. Quarry LP now owns 2,035 shares of the company’s stock worth $36,000 after purchasing an additional 1,245 shares during the last quarter. New Age Alpha Advisors LLC acquired a new stake in Bandwidth during the fourth quarter worth about $50,000. SBI Securities Co. Ltd. acquired a new stake in Bandwidth during the fourth quarter worth about $69,000. Finally, Meeder Asset Management Inc. acquired a new stake in Bandwidth during the third quarter worth about $74,000. 68.53% of the stock is currently owned by institutional investors and hedge funds.

Bandwidth Trading Up 1.8 %

NASDAQ BAND opened at $15.09 on Thursday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.34 and a current ratio of 1.34. The company has a market capitalization of $431.94 million, a price-to-earnings ratio of -26.47 and a beta of 1.57. The company’s 50-day simple moving average is $16.67 and its two-hundred day simple moving average is $17.73. Bandwidth has a one year low of $13.51 and a one year high of $25.02.

Bandwidth (NASDAQ:BAND) last posted its earnings results on Thursday, February 20th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.36). Bandwidth had a negative net margin of 0.87% and a positive return on equity of 0.53%. The business had revenue of $209.97 million for the quarter, compared to analysts’ expectations of $203.68 million. During the same period last year, the business posted $0.38 EPS. Equities analysts forecast that Bandwidth will post 0.22 EPS for the current fiscal 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.