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

Bandwidth Inc. (NASDAQ:BAND - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the six analysts that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $20.80.

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

Bandwidth Trading Up 0.3%

Shares of BAND traded up $0.05 during mid-day trading on Friday, hitting $15.95. 264,235 shares of the company's stock traded hands, compared to its average volume of 278,277. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.71. Bandwidth has a 1 year low of $11.33 and a 1 year high of $23.90. The firm has a market capitalization of $474.67 million, a P/E ratio of -45.57 and a beta of 1.84. The business's 50-day moving average price is $14.03 and its 200-day moving average price is $15.19.

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

Insider Transactions at Bandwidth

In other Bandwidth news, insider Rebecca Bottorff sold 16,935 shares of the stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $15.14, for a total value of $256,395.90. Following the transaction, the insider directly owned 43,285 shares in the company, valued at approximately $655,334.90. This trade represents a 28.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Daryl Raiford sold 3,188 shares of Bandwidth stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $14.47, for a total transaction of $46,130.36. Following the transaction, the chief financial officer owned 119,707 shares in the company, valued at $1,732,160.29. This represents a 2.59% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 41,611 shares of company stock worth $612,318. 6.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Bandwidth

Several hedge funds and other institutional investors have recently modified their holdings of BAND. Bank of New York Mellon Corp lifted its position in Bandwidth by 2.2% during the fourth quarter. Bank of New York Mellon Corp now owns 83,175 shares of the company's stock valued at $1,416,000 after purchasing an additional 1,811 shares in the last quarter. Versor Investments LP raised its stake in shares of Bandwidth by 136.1% in the fourth quarter. Versor Investments LP now owns 27,757 shares of the company's stock worth $472,000 after buying an additional 16,000 shares during the period. SBI Securities Co. Ltd. purchased a new position in shares of Bandwidth during the 4th quarter valued at about $69,000. Charles Schwab Investment Management Inc. lifted its position in shares of Bandwidth by 12.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 300,076 shares of the company's stock valued at $5,107,000 after buying an additional 32,709 shares in the last quarter. Finally, Inceptionr LLC bought a new position in shares of Bandwidth during the 4th quarter valued at approximately $202,000. 68.53% of the stock is currently owned by hedge funds and other institutional investors.

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.