Bandwidth Inc. (NASDAQ:BAND) Receives $20.80 Consensus Target Price from Brokerages

Bandwidth Inc. (NASDAQ:BAND - Get Free Report) has been assigned an average rating of "Moderate Buy" from the six research firms that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have given a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $20.80.

Several brokerages have issued reports on BAND. William Blair restated an "outperform" rating on shares of Bandwidth in a research note on Friday, February 21st. Needham & Company LLC assumed coverage on shares of Bandwidth in a report on Wednesday, May 7th. They set a "buy" rating and a $20.00 price objective on the stock. Robert W. Baird cut their target price on shares of Bandwidth from $20.00 to $15.00 and set a "neutral" rating for the company in a research report on Thursday, May 8th. Barclays lowered their price target on shares of Bandwidth from $25.00 to $22.00 and set an "overweight" rating on the stock in a research report on Friday, February 21st. Finally, Morgan Stanley dropped their price target on shares of Bandwidth from $18.00 to $11.00 and set an "underweight" rating on the stock in a research note on Wednesday, April 16th.

Insider Transactions at Bandwidth

In related news, CFO Daryl Raiford sold 2,233 shares of the company's stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $14.47, for a total transaction of $32,311.51. Following the sale, the chief financial officer now owns 117,578 shares of the company's stock, valued at approximately $1,701,353.66. This represents a 1.86% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Richard Brandon Asbill sold 1,914 shares of the firm's stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $14.47, for a total transaction of $27,695.58. Following the completion of the transaction, the general counsel now directly owns 47,014 shares of the company's stock, valued at approximately $680,292.58. The trade was a 3.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 24,676 shares of company stock valued at $355,922. 6.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Bandwidth

A number of large investors have recently modified their holdings of BAND. Charles Schwab Investment Management Inc. lifted its position in Bandwidth by 12.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 300,076 shares of the company's stock valued at $5,107,000 after purchasing an additional 32,709 shares during the last quarter. Versor Investments LP lifted its holdings in shares of Bandwidth by 136.1% during the 4th quarter. Versor Investments LP now owns 27,757 shares of the company's stock worth $472,000 after acquiring an additional 16,000 shares during the last quarter. Counterpoint Mutual Funds LLC bought a new stake in shares of Bandwidth during the 4th quarter worth $384,000. Vanguard Group Inc. grew its position in Bandwidth by 4.3% in the fourth quarter. Vanguard Group Inc. now owns 1,769,027 shares of the company's stock worth $30,109,000 after acquiring an additional 73,623 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Bandwidth by 9.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,249,120 shares of the company's stock valued at $21,260,000 after acquiring an additional 112,269 shares during the last quarter. Institutional investors own 68.53% of the company's stock.

Bandwidth Stock Performance

Bandwidth stock traded down $0.08 during mid-day trading on Tuesday, reaching $14.42. 180,624 shares of the company's stock were exchanged, compared to its average volume of 287,469. The business's fifty day simple moving average is $13.14 and its 200 day simple moving average is $15.95. The firm has a market capitalization of $429.18 million, a PE ratio of -25.30 and a beta of 1.88. Bandwidth has a one year low of $11.33 and a one year high of $23.90. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.90.

Bandwidth (NASDAQ:BAND - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $0.36 EPS for the quarter, topping analysts' consensus estimates of $0.29 by $0.07. The company had revenue of $174.24 million for the quarter, compared to analysts' expectations of $168.96 million. Bandwidth had a positive return on equity of 0.53% and a negative net margin of 0.87%. The business's revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.27 EPS. On average, sell-side analysts expect that Bandwidth will post 0.22 earnings per share for the current year.

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.