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

Shares of Bandwidth Inc. (NASDAQ:BAND - Get Free Report) have been assigned an average rating of "Moderate Buy" from the six brokerages that are covering the firm, MarketBeat.com reports. One 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 12-month price objective among brokerages that have covered the stock in the last year is $20.80.

A number of equities analysts have recently issued reports on BAND shares. JMP Securities reaffirmed a "market outperform" rating and set a $36.00 price target on shares of Bandwidth in a research report on Thursday, May 15th. Robert W. Baird dropped their target price on Bandwidth from $20.00 to $15.00 and set a "neutral" rating on the stock in a report on Thursday, May 8th. Morgan Stanley cut their price objective on shares of Bandwidth from $18.00 to $11.00 and set an "underweight" rating for the company in a report on Wednesday, April 16th. Finally, 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.

Insider Activity at Bandwidth

In other Bandwidth news, General Counsel Richard Brandon Asbill sold 1,914 shares of the firm's stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $14.47, for a total transaction of $27,695.58. Following the completion of the sale, the general counsel now owns 47,014 shares of the company's stock, valued at $680,292.58. This trade represents a 3.91% 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, insider Rebecca Bottorff sold 2,333 shares of the firm'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 $33,758.51. Following the completion of the transaction, the insider now directly owns 60,220 shares of the company's stock, valued at approximately $871,383.40. The trade was a 3.73% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 41,611 shares of company stock valued at $612,318. 6.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Bandwidth

A number of institutional investors and hedge funds have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in 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 in the last quarter. Dynamic Technology Lab Private Ltd grew its stake in shares of Bandwidth by 1.6% in the 4th quarter. Dynamic Technology Lab Private Ltd now owns 43,366 shares of the company's stock valued at $738,000 after purchasing an additional 699 shares during the last quarter. Rhumbline Advisers increased its stake in Bandwidth by 3.7% in the 1st quarter. Rhumbline Advisers now owns 35,603 shares of the company's stock valued at $466,000 after buying an additional 1,255 shares during the period. Covestor Ltd acquired a new position in shares of Bandwidth during the fourth quarter worth about $25,000. Finally, Price T Rowe Associates Inc. MD raised its position in Bandwidth by 10.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,182 shares of the company's stock worth $293,000 after acquiring an additional 1,658 shares in the last quarter. Institutional investors and hedge funds own 68.53% of the company's stock.

Bandwidth Price Performance

Shares of BAND stock opened at $15.25 on Friday. Bandwidth has a one year low of $11.33 and a one year high of $23.90. The company has a market capitalization of $453.84 million, a P/E ratio of -43.57 and a beta of 1.82. The company's 50-day simple moving average is $13.86 and its two-hundred day simple moving average is $15.27. 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 (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.07. The company had revenue of $174.24 million for the quarter, compared to analyst estimates of $168.96 million. Bandwidth had a negative net margin of 0.14% and a positive return on equity of 1.46%. Bandwidth's revenue was up 1.8% compared to the same quarter last year. During the same period last year, the company posted $0.27 earnings per share. As a group, equities analysts anticipate that Bandwidth will post 0.22 EPS 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.

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