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

Bandwidth Inc. (NASDAQ:BAND - Get Free Report) has been given an average recommendation of "Moderate Buy" by the six analysts that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $20.80.

BAND has been the subject of several recent analyst reports. William Blair reaffirmed an "outperform" rating on shares of Bandwidth in a research note on Friday, February 21st. Robert W. Baird decreased their price target on shares of Bandwidth from $20.00 to $15.00 and set a "neutral" rating on the stock in a report on Thursday. Needham & Company LLC started coverage on Bandwidth in a research note on Wednesday. They set a "buy" rating and a $20.00 price objective for the company. Morgan Stanley reduced their target price on Bandwidth from $18.00 to $11.00 and set an "underweight" rating for the company in a research report on Wednesday, April 16th. Finally, Barclays dropped their price target on Bandwidth from $25.00 to $22.00 and set an "overweight" rating for the company in a research report on Friday, February 21st.

Insider Buying and Selling at Bandwidth

In related news, CFO Daryl Raiford sold 24,253 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $15.58, for a total transaction of $377,861.74. Following the sale, the chief financial officer now directly owns 113,795 shares of the company's stock, valued at $1,772,926.10. This trade represents a 17.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Devin M. Krupka sold 3,770 shares of Bandwidth stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $15.70, for a total transaction of $59,189.00. Following the completion of the sale, the insider now owns 19,188 shares of the company's stock, valued at $301,251.60. This represents a 16.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 63,721 shares of company stock worth $992,965. 6.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Bandwidth

A number of institutional investors have recently bought and sold shares of the stock. Barclays PLC lifted its holdings in shares of Bandwidth by 9.1% in the third quarter. Barclays PLC now owns 224,497 shares of the company's stock worth $3,931,000 after buying an additional 18,778 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of Bandwidth by 40.9% during the 3rd quarter. Franklin Resources Inc. now owns 77,481 shares of the company's stock valued at $1,325,000 after purchasing an additional 22,505 shares during the last quarter. SG Americas Securities LLC grew 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 valued at $189,000 after purchasing an additional 1,407 shares in the last quarter. Parcion Private Wealth LLC increased its holdings in shares of Bandwidth by 1.7% in the fourth quarter. Parcion Private Wealth LLC now owns 232,137 shares of the company's stock worth $3,951,000 after purchasing an additional 3,927 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Bandwidth by 2.2% in the fourth quarter. Bank of New York Mellon Corp now owns 83,175 shares of the company's stock worth $1,416,000 after buying an additional 1,811 shares in the last quarter. 68.53% of the stock is owned by institutional investors.

Bandwidth Stock Performance

Shares of Bandwidth stock opened at $13.86 on Friday. The business has a 50-day simple moving average of $13.38 and a 200 day simple moving average of $16.55. Bandwidth has a one year low of $11.33 and a one year high of $23.90. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.34 and a quick ratio of 1.34. The firm has a market capitalization of $396.73 million, a price-to-earnings ratio of -24.32 and a beta of 1.88.

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

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.

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