Needham & Company LLC Reaffirms "Hold" Rating for Bandwidth (NASDAQ:BAND)

Needham & Company LLC reissued their hold rating on shares of Bandwidth (NASDAQ:BAND - Free Report) in a research note published on Friday morning,Benzinga reports.

Several other equities research analysts have also commented on the company. Barclays cut their price objective on Bandwidth from $25.00 to $22.00 and set an "overweight" rating for the company in a research note on Friday. Robert W. Baird boosted their price target on Bandwidth from $19.00 to $22.00 and gave the stock a "neutral" rating in a research report on Friday, November 1st. Finally, Morgan Stanley raised 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. One analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $28.33.

Bandwidth Price Performance

Shares of NASDAQ:BAND traded down $0.20 during midday trading on Friday, reaching $16.75. 357,430 shares of the company's stock traded hands, compared to its average volume of 307,059. The company has a fifty day simple moving average of $17.39 and a two-hundred day simple moving average of $17.88. Bandwidth has a 1 year low of $11.90 and a 1 year high of $25.02. The company has a market cap of $460.79 million, a P/E ratio of -29.39 and a beta of 1.54. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.34 and a current ratio of 1.34.

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Bandwidth (NASDAQ:BAND - Get Free Report) last posted its quarterly earnings data 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). The company had revenue of $209.97 million for the quarter, compared to analysts' expectations 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 previous year, the business earned $0.38 earnings per share. Equities analysts predict that Bandwidth will post 0.22 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO David A. Morken sold 15,410 shares of the firm's 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 sale, the chief executive officer now owns 101,821 shares in the company, valued at $2,164,714.46. This trade represents a 13.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Devin M. Krupka sold 3,658 shares of the company's stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $21.26, for a total value of $77,769.08. Following the completion of the transaction, the insider now owns 11,097 shares in the company, valued at $235,922.22. This represents a 24.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 51,417 shares of company stock worth $1,063,184. Insiders own 6.20% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of BAND. Assenagon Asset Management S.A. boosted its position in shares of Bandwidth by 185.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 341,921 shares of the company's stock worth $5,987,000 after purchasing an additional 222,142 shares during the period. Parcion Private Wealth LLC boosted its holdings in Bandwidth by 1.8% during the 3rd quarter. Parcion Private Wealth LLC now owns 228,210 shares of the company's stock valued at $3,996,000 after acquiring an additional 3,927 shares during the period. Los Angeles Capital Management LLC increased its stake in Bandwidth by 3.6% during the third quarter. Los Angeles Capital Management LLC now owns 21,221 shares of the company's stock worth $372,000 after purchasing an additional 740 shares during the period. GSA Capital Partners LLP boosted its stake in shares of Bandwidth by 32.0% in the third quarter. GSA Capital Partners LLP now owns 69,986 shares of the company's stock valued at $1,225,000 after purchasing an additional 16,968 shares during the period. Finally, Thrivent Financial for Lutherans increased its stake in Bandwidth by 27.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 75,575 shares of the company's stock worth $1,323,000 after buying an additional 16,450 shares during the period. Hedge funds and other institutional investors own 68.53% of the company's stock.

About Bandwidth

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.