Shares of Bandwidth Inc. (NASDAQ:BAND) have earned an average recommendation of "Buy" from the ten analysts that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $180.25.
Several equities analysts recently issued reports on BAND shares. Needham & Company LLC increased their target price on Bandwidth from $170.00 to $200.00 and gave the stock a "buy" rating in a research note on Tuesday, October 13th. Morgan Stanley lowered Bandwidth from an "equal weight" rating to an "underweight" rating and set a $140.00 target price on the stock. in a research note on Wednesday, October 7th. Canaccord Genuity increased their target price on Bandwidth from $175.00 to $225.00 and gave the stock a "buy" rating in a research note on Tuesday, October 13th. JMP Securities increased their price target on Bandwidth from $180.00 to $206.00 and gave the company an "outperform" rating in a research report on Tuesday, October 13th. Finally, Zacks Investment Research raised Bandwidth from a "sell" rating to a "hold" rating and set a $206.00 price target on the stock in a research report on Thursday, October 15th.
In other news, General Counsel W. Christopher Matton sold 275 shares of the firm's stock in a transaction dated Monday, January 4th. The stock was sold at an average price of $157.45, for a total transaction of $43,298.75. Following the sale, the general counsel now owns 10,523 shares of the company's stock, valued at approximately $1,656,846.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David A. Morken sold 47,205 shares of the firm's stock in a transaction dated Wednesday, January 6th. The stock was sold at an average price of $148.63, for a total value of $7,016,079.15. Following the sale, the chief executive officer now directly owns 53,273 shares in the company, valued at approximately $7,917,965.99. The disclosure for this sale can be found here. Insiders sold a total of 248,973 shares of company stock worth $40,730,555 in the last ninety days. 11.05% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of BAND. Sei Investments Co. grew its stake in Bandwidth by 33.1% during the 3rd quarter. Sei Investments Co. now owns 30,770 shares of the company's stock worth $5,371,000 after buying an additional 7,648 shares during the last quarter. NN Investment Partners Holdings N.V. grew its stake in Bandwidth by 14,461.4% during the 3rd quarter. NN Investment Partners Holdings N.V. now owns 8,300 shares of the company's stock worth $1,449,000 after buying an additional 8,243 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Bandwidth by 16.4% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 118,508 shares of the company's stock worth $15,051,000 after buying an additional 16,692 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. grew its stake in Bandwidth by 104.9% during the 3rd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 7,540 shares of the company's stock worth $1,316,000 after buying an additional 3,860 shares during the last quarter. Finally, Mackay Shields LLC purchased a new position in Bandwidth during the 3rd quarter worth approximately $1,082,000. 86.75% of the stock is currently owned by institutional investors and hedge funds.
BAND opened at $161.14 on Friday. The stock's 50-day moving average price is $162.68 and its 200 day moving average price is $155.86. Bandwidth has a 12-month low of $50.89 and a 12-month high of $198.60. The company has a current ratio of 10.21, a quick ratio of 10.21 and a debt-to-equity ratio of 0.89. The firm has a market cap of $4.01 billion, a price-to-earnings ratio of -149.20 and a beta of 0.59.
Bandwidth (NASDAQ:BAND) last posted its earnings results on Thursday, October 29th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters' consensus estimate of ($0.12) by $0.36. Bandwidth had a positive return on equity of 0.86% and a negative net margin of 8.90%. The firm had revenue of $84.80 million for the quarter, compared to analyst estimates of $75.49 million. During the same quarter in the prior year, the company earned ($0.06) EPS. Bandwidth's revenue was up 39.0% on a year-over-year basis. On average, research analysts forecast that Bandwidth will post 0.06 earnings per share for the current year.
Bandwidth Company Profile
Bandwidth Inc operates as a cloud-based software-powered communications platform-as-a-service (CPaaS) provider in the United States. The company operates in two segments, CPaaS and Other. Its platform enables enterprises to create, scale, and operate voice or text communications services across mobile application or connected device.
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