Bandwidth Inc. (NASDAQ:BAND) Given Average Recommendation of "Moderate Buy" by Brokerages

Bandwidth Inc. (NASDAQ:BAND - Get Free Report) has earned a consensus rating of "Moderate Buy" from the eight analysts that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $28.33.

Several research analysts recently commented on BAND shares. William Blair reissued an "outperform" rating on shares of Bandwidth in a research report on Friday, February 21st. Morgan Stanley increased their price objective on Bandwidth from $17.00 to $18.00 and gave the company an "underweight" rating in a report on Wednesday, December 18th. Needham & Company LLC reissued a "hold" rating on shares of Bandwidth in a research note on Friday, February 21st. Finally, Barclays dropped their price target on shares of Bandwidth from $25.00 to $22.00 and set an "overweight" rating on the stock in a research report on Friday, February 21st.

Insider Buying and Selling

In other news, CFO Daryl Raiford sold 24,253 shares of the business's 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 sale, the chief financial officer now owns 113,795 shares of the company's stock, valued at approximately $1,772,926.10. The trade was a 17.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO David A. Morken sold 2,777 shares of the company's stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $17.39, for a total transaction of $48,292.03. Following the completion of the transaction, the chief executive officer now owns 109,783 shares in the company, valued at $1,909,126.37. This trade represents a 2.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 70,510 shares of company stock valued at $1,109,806. 6.20% of the stock is owned by insiders.

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Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in BAND. Thrivent Financial for Lutherans boosted its stake in shares of Bandwidth by 27.8% in the third quarter. Thrivent Financial for Lutherans now owns 75,575 shares of the company's stock valued at $1,323,000 after buying an additional 16,450 shares during the period. Quest Partners LLC acquired a new position in Bandwidth in the 3rd quarter valued at $118,000. Meeder Asset Management Inc. bought a new stake in shares of Bandwidth during the 3rd quarter valued at $74,000. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Bandwidth by 35.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 324,199 shares of the company's stock worth $5,677,000 after purchasing an additional 83,979 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Bandwidth by 38.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 267,367 shares of the company's stock worth $4,682,000 after purchasing an additional 73,795 shares in the last quarter. Institutional investors and hedge funds own 68.53% of the company's stock.

Bandwidth Stock Up 0.5 %

Shares of BAND stock traded up $0.08 during trading on Thursday, reaching $15.10. The company's stock had a trading volume of 238,813 shares, compared to its average volume of 276,512. Bandwidth has a one year low of $13.51 and a one year high of $25.02. The business has a fifty day moving average price of $16.60 and a 200-day moving average price of $17.68. The company has a market cap of $432.22 million, a price-to-earnings ratio of -26.49 and a beta of 1.57. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.90.

Bandwidth (NASDAQ:BAND - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.36). Bandwidth had a negative net margin of 0.87% and a positive return on equity of 0.53%. The business had revenue of $209.97 million during the quarter, compared to analyst estimates of $203.68 million. During the same quarter in the previous year, the firm posted $0.38 earnings per share. Analysts anticipate 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.