Analysts Set Bandwidth Inc. (NASDAQ:BAND) Price Target at $25.71

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

Several brokerages have recently weighed in on BAND. Needham & Company LLC reaffirmed a “hold” rating on shares of Bandwidth in a research report on Friday, August 2nd. Barclays lowered their price target on Bandwidth from $28.00 to $25.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Robert W. Baird cut 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. Morgan Stanley cut shares of Bandwidth from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $18.00 to $15.00 in a research note on Friday, June 14th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $36.00 price target on shares of Bandwidth in a research report on Tuesday, August 27th.

Bandwidth Stock Performance

Shares of Bandwidth stock opened at $17.10 on Friday. Bandwidth has a 52 week low of $9.34 and a 52 week high of $25.02. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.16 and a current ratio of 1.16. The stock has a market capitalization of $461.84 million, a price-to-earnings ratio of -15.27 and a beta of 1.50. The firm has a fifty day moving average of $17.91 and a two-hundred day moving average of $18.29.

Bandwidth (NASDAQ:BAND) last issued its earnings results on Thursday, August 1st. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.28 by $0.01. The firm had revenue of $174.00 million during the quarter, compared to the consensus estimate of $173.18 million. Bandwidth had a negative net margin of 3.21% and a negative return on equity of 1.89%. The business’s quarterly revenue was up 19.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.09) earnings per share. As a group, equities research analysts predict that Bandwidth will post 0.11 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Daryl Raiford sold 4,350 shares of Bandwidth stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $16.97, for a total transaction of $73,819.50. Following the completion of the transaction, the chief financial officer now owns 71,546 shares of the company’s stock, valued at $1,214,135.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Lukas M. Roush acquired 4,963 shares of the stock in a transaction dated Friday, June 14th. The stock was purchased at an average cost of $16.12 per share, with a total value of $80,003.56. Following the completion of the purchase, the director now directly owns 43,167 shares in the company, valued at approximately $695,852.04. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Daryl Raiford sold 4,350 shares of Bandwidth stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $16.97, for a total value of $73,819.50. Following the sale, the chief financial officer now owns 71,546 shares in the company, valued at $1,214,135.62. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,794 shares of company stock worth $245,075. 6.20% of the stock is currently owned by insiders.

Institutional Trading of Bandwidth

Several hedge funds have recently added to or reduced their stakes in the stock. Innealta Capital LLC purchased a new position in Bandwidth during the 2nd quarter valued at about $30,000. Redwood Wealth Management Group LLC bought a new position in shares of Bandwidth during the second quarter valued at about $35,000. Ameritas Investment Partners Inc. increased its holdings in shares of Bandwidth by 31.6% in the first quarter. Ameritas Investment Partners Inc. now owns 2,355 shares of the company’s stock worth $43,000 after buying an additional 565 shares during the period. Daiwa Securities Group Inc. bought a new stake in shares of Bandwidth in the 2nd quarter valued at about $57,000. Finally, Quest Partners LLC bought a new stake in Bandwidth in the 4th quarter worth $145,000. Institutional investors own 68.53% of the company’s stock.

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.