Analysts Set Bandwidth Inc. (NASDAQ:BAND) Price Target at $20.80

Bandwidth Inc. (NASDAQ:BAND) has been assigned a consensus rating of “Moderate Buy” from the six analysts that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $20.80.

Several brokerages have commented on BAND. Needham & Company LLC began coverage on shares of Bandwidth in a report on Wednesday, May 7th. They issued a “buy” rating and a $20.00 price objective for the company. Morgan Stanley decreased 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. William Blair restated an “outperform” rating on shares of Bandwidth in a report on Friday, February 21st. Robert W. Baird decreased their price objective on shares of Bandwidth from $20.00 to $15.00 and set a “neutral” rating for the company in a report on Thursday. Finally, Barclays decreased their price objective on shares of Bandwidth from $25.00 to $22.00 and set an “overweight” rating for the company in a report on Friday, February 21st.

Insider Buying and Selling

In related news, CFO Daryl Raiford sold 24,253 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $15.58, for a total value of $377,861.74. Following the completion of the transaction, the chief financial officer now directly owns 113,795 shares in the company, valued at $1,772,926.10. This trade represents a 17.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Richard Brandon Asbill sold 5,629 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $15.70, for a total transaction of $88,375.30. Following the completion of the transaction, the general counsel now owns 57,475 shares of the company’s stock, valued at approximately $902,357.50. The trade was a 8.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 63,721 shares of company stock worth $992,965 in the last three months. 6.50% of the stock is owned by corporate insiders.

Institutional Trading of Bandwidth

Institutional investors have recently bought and sold shares of the company. Covestor Ltd purchased a new stake in Bandwidth during the 4th quarter valued at about $25,000. New Age Alpha Advisors LLC purchased a new stake in Bandwidth during the 4th quarter valued at about $50,000. SBI Securities Co. Ltd. purchased a new stake in Bandwidth during the 4th quarter valued at about $69,000. Harbor Capital Advisors Inc. purchased a new stake in Bandwidth during the 1st quarter valued at about $72,000. Finally, US Bancorp DE grew its position in Bandwidth by 11,281.3% during the 1st quarter. US Bancorp DE now owns 5,463 shares of the company’s stock valued at $72,000 after purchasing an additional 5,415 shares during the last quarter. 68.53% of the stock is owned by hedge funds and other institutional investors.

Bandwidth Trading Up 1.3%

NASDAQ:BAND opened at $14.04 on Friday. The company has a fifty day moving average of $13.36 and a 200 day moving average of $16.50. Bandwidth has a 52 week low of $11.33 and a 52 week high of $23.90. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.90. The firm has a market capitalization of $401.88 million, a P/E ratio of -24.63 and a beta of 1.88.

Bandwidth (NASDAQ:BAND) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.07. Bandwidth had a negative net margin of 0.87% and a positive return on equity of 0.53%. The company had revenue of $174.24 million during the quarter, compared to analyst estimates of $168.96 million. During the same period in the prior year, the business posted $0.27 EPS. The firm’s revenue was up 1.8% compared to the same quarter last year. On average, research analysts predict that Bandwidth will post 0.22 earnings per share for the current year.

Bandwidth Company Profile

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.