Bandwidth Inc. (NASDAQ:BAND) Stock Has Average Price Target of $66.67 According to Analysts

Key Points

• Analyst sentiment is mixed: Nine analysts rate Bandwidth “Hold” on average, with five holds and four buys; their average 12-month price target is $66.67.
• Bandwidth beat quarterly earnings and revenue estimates, reporting EPS of $0.50 versus $0.47 expected and revenue of $234.02 million, up 21.9% year over year.
• Several insiders sold shares in the last quarter, totaling 25,050 shares worth about $1.23 million.

Shares of Bandwidth Inc. (NASDAQ:BAND - Get Free Report) have received an average rating of "Hold" from the nine ratings firms that are covering the company, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $66.67.

Several analysts recently issued reports on BAND shares. Piper Sandler boosted their target price on shares of Bandwidth from $38.00 to $52.00 and gave the company a "neutral" rating in a research report on Wednesday, August 19th. Citigroup reiterated a "market outperform" rating on shares of Bandwidth in a research report on Friday, October 30th. Wall Street Zen upgraded shares of Bandwidth from a "hold" rating to a "buy" rating in a research report on Saturday, October 31st. Bank of America assumed coverage on shares of Bandwidth in a research note on Wednesday, September 16th. They set a "neutral" rating and a $60.00 price target on the stock. Finally, Weiss Ratings raised shares of Bandwidth from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday, November 4th.

Bandwidth Price Performance

Shares of BAND opened at $41.86 on Tuesday. The firm has a fifty day simple moving average of $50.77 and a two-hundred day simple moving average of $41.59. The firm has a market cap of $1.35 billion, a PE ratio of -348.80, a P/E/G ratio of 3.57 and a beta of 3.17. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.81. Bandwidth has a 1-year low of $12.50 and a 1-year high of $79.08.

Bandwidth (NASDAQ:BAND - Get Free Report) last released its quarterly earnings results on Thursday, October 29th. The company reported $0.50 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.47 by $0.03. Bandwidth had a return on equity of 3.70% and a net margin of 1.01%. The firm had revenue of $234.02 million for the quarter, compared to the consensus estimate of $233.15 million. The firm's revenue for the quarter was up 21.9% on a year-over-year basis. On average, equities analysts anticipate that Bandwidth will post 0.65 EPS for the current year.

Insider Buying and Selling

In other Bandwidth news, CEO David A. Morken sold 5,128 shares of the business's stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $49.15, for a total transaction of $252,041.20. Following the completion of the sale, the chief executive officer owned 6,702 shares of the company's stock, valued at approximately $329,403.30. The trade was a 43.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Rebecca Bottorff sold 2,713 shares of the company's stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $49.15, for a total value of $133,343.95. Following the completion of the sale, the insider owned 10,704 shares of the company's stock, valued at approximately $526,101.60. The trade was a 20.22% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 25,050 shares of company stock worth $1,228,342 in the last quarter. Company insiders own 5.26% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in BAND. Eurizon Capital SGR S.p.A. purchased a new stake in Bandwidth in the 3rd quarter worth approximately $27,000. Sterling Capital Management LLC raised its stake in Bandwidth by 850.0% during the 3rd quarter. Sterling Capital Management LLC now owns 988 shares of the company's stock worth $60,000 after acquiring an additional 884 shares during the period. TD Waterhouse Canada Inc. bought a new stake in Bandwidth during the 2nd quarter worth approximately $70,000. State of Alaska Department of Revenue lifted its holdings in Bandwidth by 43.1% during the third quarter. State of Alaska Department of Revenue now owns 1,262 shares of the company's stock valued at $76,000 after purchasing an additional 380 shares in the last quarter. Finally, Integrated Wealth Concepts LLC purchased a new position in Bandwidth during the second quarter valued at approximately $94,000. 68.53% of the stock is owned by hedge funds and other institutional investors.

Bandwidth Company Profile

Bandwidth is a cloud communications company that provides software and network services for businesses, communications providers and software developers. Its platform enables organizations to add voice calling, messaging and emergency calling capabilities to their applications and services.

The company offers communications APIs, business voice and messaging solutions, and services for managing phone numbers and emergency communications. Bandwidth's network infrastructure supports these offerings and helps customers connect communications features with their existing systems.

Founded in 1999 and based in Raleigh, North Carolina, Bandwidth serves customers in the United States and internationally.

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