Needham & Company LLC Reaffirms “Hold” Rating for Bandwidth (NASDAQ:BAND)

Needham & Company LLC restated their hold rating on shares of Bandwidth (NASDAQ:BAND) in a research note issued to investors on Friday morning,Benzinga reports.

Several other research firms also recently weighed in on BAND. Morgan Stanley lifted their target price on Bandwidth from $17.00 to $18.00 and gave the stock an “underweight” rating in a research report on Wednesday, December 18th. Barclays decreased their price objective on shares of Bandwidth from $25.00 to $22.00 and set an “overweight” rating for the company in a report on Friday. Finally, Robert W. Baird upped their target price on shares of Bandwidth from $19.00 to $22.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Bandwidth presently has a consensus rating of “Moderate Buy” and an average target price of $28.33.

Bandwidth Stock Performance

Bandwidth stock opened at $17.00 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. The firm has a market capitalization of $467.67 million, a P/E ratio of -18.28 and a beta of 1.54. Bandwidth has a 1-year low of $11.90 and a 1-year high of $25.02. The company’s 50-day moving average is $17.44 and its 200 day moving average is $17.84.

Bandwidth (NASDAQ:BAND) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.36). Bandwidth had a negative return on equity of 0.89% and a negative net margin of 2.23%. The business had revenue of $209.97 million during the quarter, compared to analysts’ expectations of $203.68 million. During the same quarter in the previous year, the company posted $0.38 earnings per share. Research analysts forecast that Bandwidth will post 0.08 EPS for the current year.

Insider Activity at Bandwidth

In other Bandwidth news, CEO David A. Morken sold 15,410 shares of the firm’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $21.26, for a total transaction of $327,616.60. Following the transaction, the chief executive officer now owns 101,821 shares of the company’s stock, valued at approximately $2,164,714.46. This trade represents a 13.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Devin M. Krupka sold 3,658 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $21.26, for a total transaction of $77,769.08. Following the completion of the sale, the insider now directly owns 11,097 shares of the company’s stock, valued at $235,922.22. The trade was a 24.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 51,417 shares of company stock worth $1,063,184 over the last three months. 6.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Bandwidth by 4.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,185 shares of the company’s stock worth $241,000 after purchasing an additional 608 shares during the last quarter. Dynamic Technology Lab Private Ltd raised its holdings in Bandwidth by 1.6% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 43,366 shares of the company’s stock worth $738,000 after purchasing an additional 699 shares in the last quarter. Los Angeles Capital Management LLC lifted its position in shares of Bandwidth by 3.6% during the third quarter. Los Angeles Capital Management LLC now owns 21,221 shares of the company’s stock valued at $372,000 after buying an additional 740 shares during the last quarter. Quarry LP boosted its holdings in shares of Bandwidth by 157.6% in the 3rd quarter. Quarry LP now owns 2,035 shares of the company’s stock valued at $36,000 after buying an additional 1,245 shares in the last quarter. Finally, SG Americas Securities LLC grew its position in shares of Bandwidth by 14.5% in the 4th quarter. SG Americas Securities LLC now owns 11,102 shares of the company’s stock worth $189,000 after buying an additional 1,407 shares during the last quarter. 68.53% of the stock is currently owned by hedge funds and other institutional investors.

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.