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

Shares of Bandwidth Inc. (NASDAQ:BAND - Get Free Report) have been assigned a consensus rating of "Hold" from the seven analysts that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $28.33.

A number of research analysts have recently weighed in on BAND shares. Robert W. Baird raised their price objective on Bandwidth from $19.00 to $22.00 and gave the company a "neutral" rating in a research report on Friday, November 1st. JMP Securities restated a "market outperform" rating and set a $36.00 price objective on shares of Bandwidth in a research report on Tuesday, August 27th. Finally, Needham & Company LLC restated a "hold" rating on shares of Bandwidth in a research report on Friday, November 1st.

Insider Buying and Selling

In other Bandwidth news, General Counsel Richard Brandon Asbill sold 5,561 shares of the business's stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $21.26, for a total transaction of $118,226.86. Following the completion of the transaction, the general counsel now owns 41,825 shares in the company, valued at $889,199.50. The trade was a 11.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Daryl Raiford sold 4,371 shares of the business's stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $20.70, for a total value of $90,479.70. Following the transaction, the chief financial officer now owns 93,451 shares of the company's stock, valued at $1,934,435.70. This trade represents a 4.47 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 44,733 shares of company stock worth $948,310. Corporate insiders own 6.20% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Innealta Capital LLC bought a new stake in shares of Bandwidth during the second quarter valued at approximately $30,000. nVerses Capital LLC raised its stake in shares of Bandwidth by 80.0% during the third quarter. nVerses Capital LLC now owns 1,800 shares of the company's stock valued at $32,000 after acquiring an additional 800 shares in the last quarter. Quarry LP raised its stake in shares of Bandwidth by 157.6% during the third quarter. Quarry LP now owns 2,035 shares of the company's stock valued at $36,000 after acquiring an additional 1,245 shares in the last quarter. Redwood Wealth Management Group LLC bought a new stake in shares of Bandwidth during the second quarter valued at approximately $35,000. Finally, Daiwa Securities Group Inc. bought a new stake in shares of Bandwidth during the second quarter valued at approximately $57,000. Hedge funds and other institutional investors own 68.53% of the company's stock.

Bandwidth Price Performance

NASDAQ:BAND traded down $0.59 on Tuesday, reaching $19.81. 153,380 shares of the company's stock traded hands, compared to its average volume of 307,565. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.83. The stock has a 50-day simple moving average of $19.00 and a 200-day simple moving average of $18.25. The firm has a market cap of $544.97 million, a PE ratio of -21.30 and a beta of 1.51. Bandwidth has a 12 month low of $11.01 and a 12 month high of $25.02.

Bandwidth (NASDAQ:BAND - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.43 EPS for the quarter, beating analysts' consensus estimates of $0.32 by $0.11. The business had revenue of $193.90 million for the quarter, compared to analysts' expectations of $182.05 million. Bandwidth had a negative return on equity of 0.89% and a negative net margin of 2.23%. The business's quarterly revenue was up 27.6% on a year-over-year basis. During the same period last year, the firm earned $0.03 earnings per share. Equities research analysts forecast that Bandwidth will post 0.08 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.