Bandwidth Inc. (NASDAQ:BAND) Receives Consensus Recommendation of "Hold" from Brokerages

Bandwidth Inc. (NASDAQ:BAND - Get Free Report) has received a consensus recommendation of "Hold" from the seven analysts that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and four have given a buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $28.33.

A number of brokerages have issued reports on BAND. Needham & Company LLC reiterated a "hold" rating on shares of Bandwidth in a research report on Friday, November 1st. Robert W. Baird lifted their price target on shares of Bandwidth from $19.00 to $22.00 and gave the stock a "neutral" rating in a research note on Friday, November 1st. Barclays cut their price target on Bandwidth from $28.00 to $25.00 and set an "overweight" rating for the company in a report on Friday, August 2nd. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $36.00 target price on shares of Bandwidth in a research note on Tuesday, August 27th.

Bandwidth Trading Down 0.6 %

NASDAQ:BAND traded down $0.12 during trading hours on Friday, reaching $18.71. The stock had a trading volume of 81,443 shares, compared to its average volume of 309,988. The company has a 50 day moving average price of $17.87 and a two-hundred day moving average price of $18.38. Bandwidth has a 52 week low of $10.60 and a 52 week high of $25.02. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.29 and a current ratio of 1.29.

Bandwidth (NASDAQ:BAND - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.11. The company had revenue of $193.90 million during the quarter, compared to analysts' expectations of $182.05 million. Bandwidth had a negative net margin of 2.23% and a negative return on equity of 0.89%. Bandwidth's revenue was up 27.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.03 EPS. As a group, equities analysts forecast that Bandwidth will post 0.08 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Daryl Raiford sold 4,350 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $16.97, for a total value of $73,819.50. Following the completion of the sale, the chief financial officer now owns 71,546 shares of the company's stock, valued at $1,214,135.62. This represents a 5.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 8,630 shares of company stock valued at $148,515 in the last three months. 6.20% of the stock is owned by corporate insiders.

Institutional Trading of Bandwidth

Large investors have recently modified their holdings of the company. Acadian Asset Management LLC grew its position in shares of Bandwidth by 15.7% in the 1st quarter. Acadian Asset Management LLC now owns 341,303 shares of the company's stock valued at $6,231,000 after acquiring an additional 46,342 shares during the period. Hsbc Holdings PLC raised its stake in shares of Bandwidth by 143.9% during the 2nd quarter. Hsbc Holdings PLC now owns 55,259 shares of the company's stock worth $929,000 after purchasing an additional 32,598 shares during the period. Squarepoint Ops LLC bought a new stake in Bandwidth in the 2nd quarter valued at about $1,113,000. Panagora Asset Management Inc. increased its position in shares of Bandwidth by 50.0% during the second quarter. Panagora Asset Management Inc. now owns 139,592 shares of the company's stock valued at $2,356,000 after buying an additional 46,547 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in Bandwidth by 100.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,132 shares of the company's stock valued at $386,000 after purchasing an additional 10,571 shares during the period. 68.53% of the stock is owned by institutional investors.

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.