Bandwidth Inc. (NASDAQ:BAND) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Bandwidth Inc. (NASDAQ:BAND) have earned an average recommendation of “Moderate Buy” from the eight research firms that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $28.33.

BAND has been the subject of a number of research reports. William Blair reaffirmed an “outperform” rating on shares of Bandwidth in a report on Friday, February 21st. Morgan Stanley increased their price objective on shares of Bandwidth from $17.00 to $18.00 and gave the stock an “underweight” rating in a research note on Wednesday, December 18th. Barclays decreased their target price on shares of Bandwidth from $25.00 to $22.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Bandwidth in a research report on Friday, February 21st.

Bandwidth Price Performance

Shares of BAND stock opened at $15.26 on Thursday. Bandwidth has a twelve month low of $13.51 and a twelve month high of $25.02. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.90. The stock has a fifty day simple moving average of $16.59 and a two-hundred day simple moving average of $17.67. The stock has a market capitalization of $436.80 million, a price-to-earnings ratio of -26.77 and a beta of 1.57.

Bandwidth (NASDAQ:BAND) last announced its earnings results on Thursday, February 20th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.36). Bandwidth had a negative net margin of 0.87% and a positive return on equity of 0.53%. The company had revenue of $209.97 million for the quarter, compared to the consensus estimate of $203.68 million. During the same period last year, the business posted $0.38 EPS. On average, analysts predict that Bandwidth will post 0.22 EPS for the current fiscal year.

Insider Buying and Selling

In other Bandwidth news, General Counsel Richard Brandon Asbill sold 5,629 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $15.70, for a total transaction of $88,375.30. Following the completion of the sale, the general counsel now owns 57,475 shares of the company’s stock, valued at $902,357.50. This trade represents a 8.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David A. Morken sold 2,777 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $17.39, for a total value of $48,292.03. Following the completion of the transaction, the chief executive officer now directly owns 109,783 shares in the company, valued at approximately $1,909,126.37. This trade represents a 2.47 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 70,510 shares of company stock worth $1,109,806. 6.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Bandwidth

A number of hedge funds have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Bandwidth by 4.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,185 shares of the company’s stock valued at $241,000 after purchasing an additional 608 shares during the period. Dynamic Technology Lab Private Ltd lifted its holdings in Bandwidth by 1.6% during the 4th quarter. Dynamic Technology Lab Private Ltd now owns 43,366 shares of the company’s stock worth $738,000 after buying an additional 699 shares in the last quarter. Quarry LP grew its stake in shares of Bandwidth by 157.6% in the third quarter. Quarry LP now owns 2,035 shares of the company’s stock worth $36,000 after acquiring an additional 1,245 shares in the last quarter. SG Americas Securities LLC increased its position in shares of Bandwidth by 14.5% during the fourth quarter. SG Americas Securities LLC now owns 11,102 shares of the company’s stock worth $189,000 after acquiring an additional 1,407 shares during the period. Finally, Covestor Ltd acquired a new stake in shares of Bandwidth in the fourth quarter valued at $25,000. Hedge funds and other 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.