Bandwidth (NASDAQ:BAND) Stock Rating Reaffirmed by Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of Bandwidth (NASDAQ:BAND) in a research note published on Friday, Benzinga reports.

BAND has been the subject of several other reports. KeyCorp lifted their target price on shares of Bandwidth from $21.00 to $32.00 and gave the stock an overweight rating in a research note on Wednesday, May 8th. JMP Securities lifted their price target on shares of Bandwidth from $32.00 to $36.00 and gave the stock a market outperform rating in a research note on Wednesday, May 8th. Barclays lifted their price target on shares of Bandwidth from $22.00 to $28.00 and gave the stock an overweight rating in a research note on Wednesday, May 8th. Robert W. Baird lifted their price target on shares of Bandwidth from $21.00 to $25.00 and gave the stock a neutral rating in a research note on Wednesday, May 8th. Finally, Morgan Stanley downgraded shares of Bandwidth from an equal weight rating to an underweight rating and dropped their target price for the stock from $18.00 to $15.00 in a research report on Friday, June 14th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $25.71.

Bandwidth Trading Down 1.8 %

Shares of Bandwidth stock opened at $14.93 on Friday. Bandwidth has a 12-month low of $9.34 and a 12-month high of $25.02. The company has a current ratio of 2.36, a quick ratio of 2.36 and a debt-to-equity ratio of 1.41. The stock has a market cap of $403.26 million, a PE ratio of -13.01 and a beta of 1.48. The company has a 50-day moving average of $18.75 and a two-hundred day moving average of $17.94.

Bandwidth (NASDAQ:BAND) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.01. Bandwidth had a negative net margin of 3.21% and a negative return on equity of 1.92%. The business had revenue of $174.00 million during the quarter, compared to analysts’ expectations of $173.18 million. During the same period last year, the company posted ($0.09) EPS. The company’s revenue was up 19.2% on a year-over-year basis. On average, research analysts anticipate that Bandwidth will post 0.16 EPS for the current fiscal year.

Insider Buying and Selling at Bandwidth

In other news, CFO Daryl Raiford sold 1,769 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $22.22, for a total value of $39,307.18. Following the completion of the sale, the chief financial officer now directly owns 63,397 shares of the company’s stock, valued at approximately $1,408,681.34. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CFO Daryl Raiford sold 1,769 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at $1,408,681.34. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Kade Ross sold 3,500 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $16.92, for a total transaction of $59,220.00. Following the sale, the insider now owns 23,322 shares in the company, valued at approximately $394,608.24. The disclosure for this sale can be found here. Insiders sold 32,973 shares of company stock valued at $664,643 in the last ninety days. Company insiders own 6.20% of the company’s stock.

Institutional Trading of Bandwidth

Large investors have recently added to or reduced their stakes in the business. G2 Investment Partners Management LLC acquired a new stake in Bandwidth in the 4th quarter worth $4,079,000. Hussman Strategic Advisors Inc. lifted its holdings in shares of Bandwidth by 366.7% during the 4th quarter. Hussman Strategic Advisors Inc. now owns 147,000 shares of the company’s stock worth $2,127,000 after acquiring an additional 115,500 shares during the period. Susquehanna Fundamental Investments LLC bought a new position in shares of Bandwidth during the 1st quarter worth about $1,143,000. Panagora Asset Management Inc. lifted its holdings in shares of Bandwidth by 50.0% during the 2nd quarter. Panagora Asset Management Inc. now owns 139,592 shares of the company’s stock worth $2,356,000 after acquiring an additional 46,547 shares during the period. Finally, Acadian Asset Management LLC lifted its holdings in shares of Bandwidth by 15.7% during the 1st quarter. Acadian Asset Management LLC now owns 341,303 shares of the company’s stock worth $6,231,000 after acquiring an additional 46,342 shares during the period. 68.53% of the stock is owned by institutional investors.

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.