Bandwidth Inc. (NASDAQ:BAND) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Bandwidth Inc. (NASDAQ:BAND) have received a consensus recommendation of “Hold” from the seven brokerages that are presently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, one has given a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $20.60.

A number of equities analysts have recently weighed in on BAND shares. B. Riley Financial started coverage on Bandwidth in a research note on Friday, January 23rd. They issued a “buy” rating and a $20.00 target price on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Bandwidth in a report on Wednesday, January 21st. Finally, Wall Street Zen cut Bandwidth from a “buy” rating to a “hold” rating in a research report on Sunday, December 14th.

Bandwidth Trading Up 5.7%

Shares of BAND stock opened at $16.45 on Thursday. Bandwidth has a 52-week low of $11.33 and a 52-week high of $18.63. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.42 and a current ratio of 1.42. The company has a 50-day simple moving average of $14.12 and a two-hundred day simple moving average of $14.97. The company has a market capitalization of $516.37 million, a price-to-earnings ratio of -38.25 and a beta of 2.14.

Hedge Funds Weigh In On Bandwidth

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC increased its holdings in Bandwidth by 183.7% during the second quarter. Tower Research Capital LLC TRC now owns 3,776 shares of the company’s stock worth $60,000 after buying an additional 2,445 shares during the last quarter. State of Wyoming purchased a new position in Bandwidth in the third quarter valued at about $71,000. Raymond James Financial Inc. bought a new position in shares of Bandwidth during the 2nd quarter valued at approximately $85,000. Harbor Capital Advisors Inc. grew its position in shares of Bandwidth by 30.3% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 7,509 shares of the company’s stock valued at $125,000 after acquiring an additional 1,748 shares during the period. Finally, Quantbot Technologies LP purchased a new stake in shares of Bandwidth during the 2nd quarter worth approximately $128,000. 68.53% of the stock is owned by hedge funds and other institutional investors.

About Bandwidth

Bandwidth Inc operates a cloud-based communications platform that provides voice, messaging and emergency services APIs for enterprises and developers. Through its proprietary network and software-as-a-service model, the company enables customers to integrate programmable voice calls, text messaging and 9-1-1 routing into their applications. Bandwidth’s solutions aim to reduce complexity and improve reliability in mission-critical communications, serving industries such as healthcare, financial services, on-demand mobility and customer engagement.

Founded in 1999 in Raleigh, North Carolina by co-founders David Morken and Henry Kaestner, Bandwidth initially focused on voice-over-IP infrastructure before evolving into a full communications API provider.