Bandwidth Inc. (NASDAQ:BAND) Given Consensus Rating of "Moderate Buy" by Brokerages

Bandwidth Inc. (NASDAQ:BAND - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the eight ratings firms that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $28.33.

A number of research firms recently weighed in on BAND. Needham & Company LLC reissued a "hold" rating on shares of Bandwidth in a research report on Friday, February 21st. 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 note on Friday, February 21st. Morgan Stanley lifted their price objective on shares of Bandwidth from $17.00 to $18.00 and gave the company an "underweight" rating in a research note on Wednesday, December 18th. William Blair reaffirmed an "outperform" rating on shares of Bandwidth in a report on Friday, February 21st. Finally, Robert W. Baird increased their price target on shares of Bandwidth from $19.00 to $22.00 and gave the stock a "neutral" rating in a report on Friday, November 1st.

Insider Buying and Selling

In related news, General Counsel Richard Brandon Asbill sold 5,561 shares of Bandwidth stock in a transaction 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 directly owns 41,825 shares of the company's stock, valued at approximately $889,199.50. The trade was a 11.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO David A. Morken sold 2,777 shares of Bandwidth stock in a transaction on Monday, January 6th. The shares were sold at an average price of $17.39, for a total transaction of $48,292.03. Following the transaction, the chief executive officer now owns 109,783 shares in the company, valued at $1,909,126.37. The trade was a 2.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 51,417 shares of company stock worth $1,063,184 over the last 90 days. 6.20% of the stock is owned by insiders.

Remove Ads

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in BAND. Covestor Ltd bought a new stake in Bandwidth during the 4th quarter worth about $25,000. Quarry LP raised its position in shares of Bandwidth by 157.6% in the third quarter. Quarry LP now owns 2,035 shares of the company's stock valued at $36,000 after purchasing an additional 1,245 shares during the period. New Age Alpha Advisors LLC acquired a new stake in Bandwidth during the fourth quarter worth approximately $50,000. SBI Securities Co. Ltd. acquired a new position in shares of Bandwidth in the fourth quarter valued at approximately $69,000. Finally, Meeder Asset Management Inc. bought a new stake in Bandwidth in the 3rd quarter valued at $74,000. Institutional investors and hedge funds own 68.53% of the company's stock.

Bandwidth Price Performance

NASDAQ BAND traded down $0.05 on Friday, hitting $16.70. 56,916 shares of the company's stock were exchanged, compared to its average volume of 300,246. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.90. The stock has a market cap of $459.42 million, a price-to-earnings ratio of -29.15 and a beta of 1.54. Bandwidth has a 52 week low of $12.02 and a 52 week high of $25.02. The stock has a 50-day moving average of $17.34 and a 200-day moving average of $17.89.

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