Bandwidth (NASDAQ:BAND) Given Buy Rating at Needham & Company LLC

Bandwidth (NASDAQ:BAND - Get Free Report)'s stock had its "buy" rating reiterated by equities researchers at Needham & Company LLC in a research note issued on Friday,Benzinga reports. They presently have a $20.00 price target on the stock. Needham & Company LLC's price objective would suggest a potential upside of 45.35% from the stock's previous close.

A number of other research analysts also recently issued reports on the company. Morgan Stanley dropped their price objective on Bandwidth from $18.00 to $11.00 and set an "underweight" rating on the stock in a research note on Wednesday, April 16th. William Blair reaffirmed an "outperform" rating on shares of Bandwidth in a research report on Friday, February 21st. Robert W. Baird dropped their target price on shares of Bandwidth from $20.00 to $15.00 and set a "neutral" rating on the stock in a research note on Thursday, May 8th. JMP Securities reissued a "market outperform" rating and issued a $36.00 price objective on shares of Bandwidth in a report on Thursday, May 15th. Finally, Barclays decreased their price objective on Bandwidth from $25.00 to $22.00 and set an "overweight" rating on the stock in a research note on Friday, February 21st. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $20.80.

Bandwidth Stock Down 3.5%

BAND traded down $0.50 during trading on Friday, reaching $13.76. 228,436 shares of the stock were exchanged, compared to its average volume of 288,947. Bandwidth has a twelve month low of $11.33 and a twelve month high of $23.90. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.34 and a current ratio of 1.34. The stock has a market cap of $409.54 million, a P/E ratio of -24.14 and a beta of 1.82. The stock's 50 day moving average price is $13.42 and its two-hundred day moving average price is $15.70.

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 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 company had revenue of $174.24 million during the quarter, compared to the consensus estimate of $168.96 million. During the same period in the previous year, the business earned $0.27 earnings per share. The firm's quarterly revenue was up 1.8% on a year-over-year basis. Equities analysts expect that Bandwidth will post 0.22 EPS for the current year.

Insider Buying and Selling

In other 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 value of $26,103.88. Following the sale, the chief operating officer now owns 57,689 shares in the company, valued at $834,759.83. This represents a 3.03% 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 business'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 value of $33,758.51. Following the completion of the sale, the insider now owns 60,220 shares of the company's stock, valued at $871,383.40. This trade represents a 3.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 41,611 shares of company stock worth $612,318. 6.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Parcion Private Wealth LLC raised its position in Bandwidth by 1.7% during the 4th quarter. Parcion Private Wealth LLC now owns 232,137 shares of the company's stock worth $3,951,000 after buying an additional 3,927 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Bandwidth by 2.2% during the 4th quarter. Bank of New York Mellon Corp now owns 83,175 shares of the company's stock worth $1,416,000 after purchasing an additional 1,811 shares during the period. Versor Investments LP grew its holdings in Bandwidth by 136.1% during the 4th quarter. Versor Investments LP now owns 27,757 shares of the company's stock valued at $472,000 after purchasing an additional 16,000 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in Bandwidth in the fourth quarter valued at $69,000. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Bandwidth by 12.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 300,076 shares of the company's stock worth $5,107,000 after acquiring an additional 32,709 shares in the last quarter. Institutional investors and hedge funds own 68.53% of the company's stock.

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.