Bandwidth Inc. (NASDAQ:BAND) Receives $28.83 Consensus Target Price from Analysts

Bandwidth Inc. (NASDAQ:BAND - Get Free Report) has been assigned a consensus recommendation of "Hold" from the seven analysts that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $28.83.

Several equities analysts have commented on BAND shares. Needham & Company LLC reissued a "hold" rating on shares of Bandwidth in a research report on Friday, November 1st. Morgan Stanley increased their price target on Bandwidth from $17.00 to $18.00 and gave the company an "underweight" rating in a report on Wednesday, December 18th. Finally, Robert W. Baird boosted their price objective 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.

Insider Buying and Selling

In other news, insider Devin M. Krupka sold 3,658 shares of Bandwidth stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $21.26, for a total transaction of $77,769.08. Following the completion of the sale, the insider now owns 11,097 shares in the company, valued at $235,922.22. The trade was a 24.79 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO David A. Morken sold 15,410 shares of the stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $21.26, for a total transaction of $327,616.60. Following the completion of the transaction, the chief executive officer now owns 101,821 shares in the company, valued at $2,164,714.46. This represents a 13.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 44,733 shares of company stock worth $948,310 in the last quarter. Insiders own 6.20% of the company's stock.

Institutional Investors Weigh In On Bandwidth

Several hedge funds have recently bought and sold shares of BAND. nVerses Capital LLC lifted its holdings in shares of Bandwidth by 80.0% during the 3rd quarter. nVerses Capital LLC now owns 1,800 shares of the company's stock valued at $32,000 after purchasing an additional 800 shares in the last quarter. Quarry LP raised its holdings in shares of Bandwidth by 157.6% during the third quarter. Quarry LP now owns 2,035 shares of the company's stock worth $36,000 after acquiring an additional 1,245 shares during the period. Redwood Wealth Management Group LLC bought a new stake in Bandwidth in the 2nd quarter valued at $35,000. Daiwa Securities Group Inc. bought a new stake in Bandwidth in the 2nd quarter valued at $57,000. Finally, Meeder Asset Management Inc. acquired a new position in Bandwidth in the 3rd quarter worth $74,000. 68.53% of the stock is currently owned by institutional investors and hedge funds.

Bandwidth Stock Up 1.9 %

Shares of Bandwidth stock traded up $0.31 during midday trading on Friday, hitting $17.02. The company's stock had a trading volume of 268,697 shares, compared to its average volume of 294,248. The firm has a market capitalization of $468.22 million, a P/E ratio of -18.30 and a beta of 1.51. Bandwidth has a 1-year low of $11.90 and a 1-year high of $25.02. 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 $19.12 and a 200-day simple moving average of $18.07.

Bandwidth (NASDAQ:BAND - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.11. Bandwidth had a negative net margin of 2.23% and a negative return on equity of 0.89%. The firm had revenue of $193.90 million for the quarter, compared to analyst estimates of $182.05 million. During the same quarter in the prior year, the business earned $0.03 EPS. The company's revenue for the quarter was up 27.6% compared to the same quarter last year. As a group, sell-side analysts expect 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.