Brokerages Set Bandwidth Inc (BAND) Target Price at $41.67

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Bandwidth Inc (NASDAQ:BAND) has been given an average rating of “Buy” by the seven research firms that are presently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $41.67.

A number of analysts have recently issued reports on the stock. Morgan Stanley downgraded shares of Bandwidth from an “overweight” rating to an “equal weight” rating and set a $40.00 price target on the stock. in a report on Monday, July 2nd. KeyCorp reaffirmed an “overweight” rating and set a $64.00 price target on shares of Bandwidth in a report on Monday, September 3rd.

In other news, insider John C. Murdock sold 18,077 shares of the stock in a transaction that occurred on Wednesday, July 11th. The shares were sold at an average price of $35.65, for a total value of $644,445.05. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Henry R. Kaestner sold 8,750 shares of the stock in a transaction that occurred on Monday, July 16th. The stock was sold at an average price of $35.08, for a total transaction of $306,950.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 495,048 shares of company stock worth $20,828,055. Insiders own 48.62% of the company’s stock.

Several large investors have recently modified their holdings of the company. Russell Investments Group Ltd. lifted its stake in shares of Bandwidth by 3.4% in the 2nd quarter. Russell Investments Group Ltd. now owns 40,463 shares of the company’s stock worth $1,537,000 after purchasing an additional 1,341 shares during the period. Citadel Advisors LLC bought a new position in shares of Bandwidth in the 2nd quarter worth approximately $213,000. Northern Trust Corp lifted its stake in shares of Bandwidth by 85.3% in the 2nd quarter. Northern Trust Corp now owns 14,946 shares of the company’s stock worth $568,000 after purchasing an additional 6,882 shares during the period. Barclays PLC bought a new position in shares of Bandwidth in the 1st quarter worth approximately $262,000. Finally, Jane Street Group LLC bought a new position in shares of Bandwidth in the 2nd quarter worth approximately $381,000. Hedge funds and other institutional investors own 29.95% of the company’s stock.

Shares of NASDAQ BAND opened at $52.26 on Tuesday. The stock has a market cap of $998.15 million and a PE ratio of 106.65. Bandwidth has a 52-week low of $18.05 and a 52-week high of $55.51.

Bandwidth (NASDAQ:BAND) last announced its quarterly earnings results on Tuesday, July 31st. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.32. The firm had revenue of $48.30 million for the quarter, compared to the consensus estimate of $45.30 million. Bandwidth had a net margin of 9.58% and a return on equity of 13.25%. sell-side analysts forecast that Bandwidth will post -0.03 earnings per share for the current year.

Bandwidth Company Profile

Bandwidth Inc operates as a cloud-based software-powered communications platform-as-a-service (CPaaS) provides in the United States. The company operates through two segments, CPaaS and Other. Its platform enables enterprises to create, scale, and operate voice or text communications services across mobile application or connected device.

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Analyst Recommendations for Bandwidth (NASDAQ:BAND)

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