Needham & Company LLC Reiterates “Buy” Rating for Bandwidth (NASDAQ:BAND)

Needham & Company LLC reissued their buy rating on shares of Bandwidth (NASDAQ:BANDFree Report) in a research report report published on Friday,Benzinga reports. The firm currently has a $20.00 price target on the stock.

Other equities analysts have also issued reports about the stock. JMP Securities reiterated a “market outperform” rating and set a $36.00 target price on shares of Bandwidth in a report on Thursday, May 15th. Robert W. Baird lowered 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. William Blair reaffirmed an “outperform” rating on shares of Bandwidth in a report on Friday, February 21st. Morgan Stanley decreased their target price on Bandwidth from $18.00 to $11.00 and set an “underweight” rating on the stock in a report on Wednesday, April 16th. Finally, Barclays cut their price target on Bandwidth from $25.00 to $22.00 and set an “overweight” rating for the company in a report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Bandwidth presently has a consensus rating of “Moderate Buy” and an average price target of $20.80.

Get Our Latest Analysis on Bandwidth

Bandwidth Stock Performance

Shares of BAND stock opened at $13.76 on Friday. The company has a market capitalization of $409.54 million, a P/E ratio of -24.14 and a beta of 1.82. Bandwidth has a fifty-two week low of $11.33 and a fifty-two week 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 50 day moving average price of $13.42 and a two-hundred day moving average price of $15.62.

Bandwidth (NASDAQ:BANDGet Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.36 earnings per share (EPS) 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 analysts’ expectations of $168.96 million. Bandwidth had a negative net margin of 0.87% and a positive return on equity of 0.53%. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.27 earnings per share. Analysts expect that Bandwidth will post 0.22 earnings per share for the current year.

Insider Activity

In related news, insider Rebecca Bottorff sold 16,935 shares of the business’s stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $15.14, for a total value of $256,395.90. Following the sale, the insider now directly owns 43,285 shares in the company, valued at approximately $655,334.90. The trade was a 28.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Daryl Raiford sold 2,233 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 value of $32,311.51. Following the transaction, the chief financial officer now owns 117,578 shares of the company’s stock, valued at $1,701,353.66. This represents a 1.86% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 41,611 shares of company stock worth $612,318 over the last quarter. Insiders own 6.50% of the company’s stock.

Institutional Investors Weigh In On Bandwidth

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of Bandwidth by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 1,785,698 shares of the company’s stock worth $23,393,000 after buying an additional 16,671 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Bandwidth by 9.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,249,120 shares of the company’s stock valued at $21,260,000 after purchasing an additional 112,269 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Bandwidth by 15.3% in the 4th quarter. Renaissance Technologies LLC now owns 651,300 shares of the company’s stock worth $11,085,000 after purchasing an additional 86,200 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Bandwidth by 16.6% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 611,880 shares of the company’s stock valued at $8,016,000 after buying an additional 87,294 shares during the period. Finally, Nuveen LLC purchased a new stake in shares of Bandwidth in the first quarter valued at $7,916,000. Hedge funds and other institutional investors own 68.53% of the company’s stock.

About Bandwidth

(Get Free Report)

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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