Bandwidth (NASDAQ:BAND) Earns Buy Rating from Analysts at Needham & Company LLC

Needham & Company LLC initiated coverage on shares of Bandwidth (NASDAQ:BAND) in a research note issued to investors on Wednesday, Marketbeat Ratings reports. The brokerage issued a buy rating and a $20.00 price target on the stock.

Several other research firms have also commented on BAND. William Blair restated an “outperform” rating on shares of Bandwidth in a research report on Friday, February 21st. Barclays decreased their target price on shares of Bandwidth from $25.00 to $22.00 and set an “overweight” rating for the company in a research note on Friday, February 21st. Finally, 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. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $20.80.

Bandwidth Trading Up 1.3 %

Shares of NASDAQ:BAND opened at $14.04 on Wednesday. Bandwidth has a 1 year low of $11.33 and a 1 year high of $23.90. The firm has a market capitalization of $401.88 million, a P/E ratio of -24.63 and a beta of 1.88. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.34 and a quick ratio of 1.34. The business’s 50-day moving average is $13.36 and its 200 day moving average is $16.52.

Bandwidth (NASDAQ:BAND) last announced its quarterly earnings data 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. The firm had revenue of $174.24 million for the quarter, compared to analyst estimates of $168.96 million. Bandwidth had a negative net margin of 0.87% and a positive return on equity of 0.53%. The business’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.27 earnings per share. On average, research analysts predict that Bandwidth will post 0.22 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Devin M. Krupka sold 3,770 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $15.70, for a total value of $59,189.00. Following the completion of the sale, the insider now directly owns 19,188 shares of the company’s stock, valued at $301,251.60. The trade was a 16.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Richard Brandon Asbill sold 9,878 shares of Bandwidth stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $15.24, for a total value of $150,540.72. Following the transaction, the general counsel now directly owns 42,475 shares in the company, valued at approximately $647,319. This trade represents a 18.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 63,721 shares of company stock worth $992,965 over the last 90 days. Corporate insiders own 6.50% of the company’s stock.

Institutional Investors Weigh In On Bandwidth

Institutional investors have recently added to or reduced their stakes in the business. Covestor Ltd acquired a new stake in shares of Bandwidth in the fourth quarter valued at about $25,000. New Age Alpha Advisors LLC purchased a new position in Bandwidth in the fourth quarter valued at about $50,000. SBI Securities Co. Ltd. acquired a new stake in shares of Bandwidth during the 4th quarter valued at approximately $69,000. Harbor Capital Advisors Inc. purchased a new stake in shares of Bandwidth during the 1st quarter worth approximately $72,000. Finally, US Bancorp DE boosted its stake in shares of Bandwidth by 11,281.3% during the 1st quarter. US Bancorp DE now owns 5,463 shares of the company’s stock worth $72,000 after acquiring an additional 5,415 shares in the last quarter. Hedge funds and other institutional investors own 68.53% of the company’s stock.

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.