Bandwidth Inc. (NASDAQ:BAND) Receives $20.83 Consensus Target Price from Brokerages

Bandwidth Inc. (NASDAQ:BAND) has been given an average rating of “Hold” by the nine analysts that are currently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $20.8333.

BAND has been the topic of a number of research analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Bandwidth in a research note on Wednesday, January 21st. Robert W. Baird set a $16.00 price target on Bandwidth in a report on Friday, October 31st. B. Riley Financial initiated coverage on Bandwidth in a research note on Friday, January 23rd. They issued a “buy” rating and a $20.00 price objective on the stock. Finally, Wall Street Zen lowered Bandwidth from a “buy” rating to a “hold” rating in a research report on Sunday, December 14th.

Insider Buying and Selling

In other news, COO Devesh Agarwal sold 4,202 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $14.06, for a total value of $59,080.12. Following the completion of the sale, the chief operating officer owned 77,482 shares of the company’s stock, valued at approximately $1,089,396.92. This represents a 5.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Daryl E. Raiford sold 6,719 shares of the stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $14.50, for a total transaction of $97,425.50. Following the transaction, the chief financial officer owned 91,816 shares in the company, valued at approximately $1,331,332. This represents a 6.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 63,463 shares of company stock valued at $895,210 over the last quarter. 6.50% of the stock is owned by company insiders.

Institutional Trading of Bandwidth

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Nuveen LLC raised its position in shares of Bandwidth by 4.8% in the 4th quarter. Nuveen LLC now owns 359,711 shares of the company’s stock worth $5,558,000 after acquiring an additional 16,548 shares in the last quarter. CSM Advisors LLC bought a new stake in Bandwidth during the fourth quarter valued at about $5,342,000. Empowered Funds LLC grew its stake in Bandwidth by 44.5% in the fourth quarter. Empowered Funds LLC now owns 140,471 shares of the company’s stock valued at $2,170,000 after purchasing an additional 43,246 shares during the last quarter. Deutsche Bank AG raised its holdings in Bandwidth by 6.0% in the fourth quarter. Deutsche Bank AG now owns 18,343 shares of the company’s stock worth $283,000 after purchasing an additional 1,043 shares in the last quarter. Finally, Franklin Resources Inc. raised its holdings in Bandwidth by 3.6% in the fourth quarter. Franklin Resources Inc. now owns 58,141 shares of the company’s stock worth $898,000 after purchasing an additional 2,043 shares in the last quarter. Institutional investors own 68.53% of the company’s stock.

Bandwidth Stock Down 1.9%

NASDAQ:BAND opened at $12.82 on Friday. Bandwidth has a twelve month low of $11.33 and a twelve month high of $19.88. The company has a market cap of $391.27 million, a price-to-earnings ratio of -32.87 and a beta of 2.15. The stock has a fifty day simple moving average of $14.33 and a 200-day simple moving average of $14.92. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.63.

Bandwidth Company Profile

Bandwidth Inc operates a cloud-based communications platform that provides voice, messaging and emergency services APIs for enterprises and developers. Through its proprietary network and software-as-a-service model, the company enables customers to integrate programmable voice calls, text messaging and 9-1-1 routing into their applications. Bandwidth’s solutions aim to reduce complexity and improve reliability in mission-critical communications, serving industries such as healthcare, financial services, on-demand mobility and customer engagement.

Founded in 1999 in Raleigh, North Carolina by co-founders David Morken and Henry Kaestner, Bandwidth initially focused on voice-over-IP infrastructure before evolving into a full communications API provider.