Bandwidth Inc. (NASDAQ:BAND) Given Average Recommendation of "Moderate Buy" by Analysts

Shares of Bandwidth Inc. (NASDAQ:BAND - Get Free Report) have received an average rating of "Moderate Buy" from the six ratings firms that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $20.80.

Several analysts have commented on BAND shares. Needham & Company LLC reissued a "buy" rating and issued a $20.00 price objective on shares of Bandwidth in a report on Friday, June 13th. Morgan Stanley cut their price objective on Bandwidth from $18.00 to $11.00 and set an "underweight" rating on the stock in a report on Wednesday, April 16th. Robert W. Baird lowered their price target on shares of Bandwidth from $20.00 to $15.00 and set a "neutral" rating for the company in a report on Thursday, May 8th. Finally, JMP Securities reissued a "market outperform" rating and issued a $36.00 target price on shares of Bandwidth in a research report on Thursday, May 15th.

Insider Activity at Bandwidth

In other Bandwidth news, COO Devesh Agarwal sold 1,804 shares of the stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $14.47, for a total transaction of $26,103.88. Following the transaction, the chief operating officer directly owned 57,689 shares of the company's stock, valued at $834,759.83. This represents a 3.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Daryl Raiford sold 1,849 shares of Bandwidth stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $15.46, for a total value of $28,585.54. Following the completion of the transaction, the chief financial officer owned 122,548 shares in the company, valued at $1,894,592.08. The trade was a 1.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 43,460 shares of company stock worth $640,903. 6.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in Bandwidth by 0.9% during the first quarter. Vanguard Group Inc. now owns 1,785,698 shares of the company's stock worth $23,393,000 after acquiring an additional 16,671 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings 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 buying an additional 112,269 shares during the period. Renaissance Technologies LLC raised its holdings in shares of Bandwidth by 15.3% during the fourth quarter. Renaissance Technologies LLC now owns 651,300 shares of the company's stock valued at $11,085,000 after purchasing an additional 86,200 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Bandwidth by 16.6% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 611,880 shares of the company's stock valued at $8,016,000 after purchasing an additional 87,294 shares during the period. Finally, Nuveen LLC bought a new stake in Bandwidth in the 1st quarter worth about $7,916,000. Institutional investors and hedge funds own 68.53% of the company's stock.

Bandwidth Trading Up 1.2%

BAND stock opened at $15.64 on Wednesday. The company has a market capitalization of $465.45 million, a price-to-earnings ratio of -44.69 and a beta of 1.84. Bandwidth has a 1-year low of $11.33 and a 1-year high of $23.90. The business has a 50 day simple moving average of $14.87 and a two-hundred day simple moving average of $14.99. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.31 and a quick ratio of 1.31.

Bandwidth (NASDAQ:BAND - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.36 earnings per share for the quarter, beating analysts' consensus estimates of $0.29 by $0.07. The company had revenue of $174.24 million for the quarter, compared to the consensus estimate of $168.96 million. Bandwidth had a positive return on equity of 1.46% and a negative net margin of 0.14%. The firm's revenue for the quarter was up 1.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.27 earnings per share. Research analysts anticipate that Bandwidth will post 0.22 EPS for the current fiscal 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.

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