Brokerages Set Bandwidth Inc. (NASDAQ:BAND) PT at $25.71

Bandwidth Inc. (NASDAQ:BAND - Get Free Report) has been given an average rating of "Hold" by the nine research firms that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and five have given a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $25.71.

Several equities research analysts recently commented on the company. Needham & Company LLC reaffirmed a "hold" rating on shares of Bandwidth in a research note on Friday, August 2nd. Barclays lowered their price objective on shares of Bandwidth from $28.00 to $25.00 and set an "overweight" rating for the company in a research note on Friday, August 2nd. JMP Securities reaffirmed a "market outperform" rating and issued a $36.00 price target on shares of Bandwidth in a research note on Tuesday, August 27th. Finally, Robert W. Baird reduced their target price on Bandwidth from $25.00 to $19.00 and set a "neutral" rating for the company in a research note on Friday, August 2nd.

Bandwidth Trading Down 1.7 %

NASDAQ:BAND traded down $0.33 on Monday, reaching $18.97. 280,542 shares of the stock traded hands, compared to its average volume of 313,103. The firm has a market capitalization of $512.34 million, a price-to-earnings ratio of -17.23 and a beta of 1.51. Bandwidth has a 1-year low of $9.34 and a 1-year high of $25.02. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.91. The company's 50 day moving average is $17.08 and its 200-day moving average is $18.22.

Bandwidth (NASDAQ:BAND - Get Free Report) last announced its earnings results on Thursday, August 1st. The company reported $0.29 earnings per share for the quarter, topping analysts' consensus estimates of $0.28 by $0.01. The business had revenue of $174.00 million during the quarter, compared to the consensus estimate of $173.18 million. Bandwidth had a negative net margin of 3.21% and a negative return on equity of 1.89%. Bandwidth's quarterly revenue was up 19.2% on a year-over-year basis. During the same quarter last year, the firm earned ($0.09) earnings per share. Equities research analysts anticipate that Bandwidth will post 0.11 EPS for the current fiscal year.

Insider Activity at Bandwidth

In other news, CFO Daryl Raiford sold 1,769 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $22.22, for a total value of $39,307.18. Following the completion of the sale, the chief financial officer now directly owns 63,397 shares of the company's stock, valued at $1,408,681.34. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last quarter, insiders have sold 10,294 shares of company stock valued at $185,855. 6.20% of the stock is owned by corporate insiders.

Institutional Trading of Bandwidth

Several institutional investors and hedge funds have recently made changes to their positions in BAND. nVerses Capital LLC grew its position in Bandwidth by 80.0% in the 3rd quarter. nVerses Capital LLC now owns 1,800 shares of the company's stock worth $32,000 after purchasing an additional 800 shares in the last quarter. Point72 Asset Management L.P. boosted its stake in shares of Bandwidth by 411.1% in the 2nd quarter. Point72 Asset Management L.P. now owns 597,933 shares of the company's stock worth $10,093,000 after buying an additional 480,933 shares during the last quarter. Squarepoint Ops LLC bought a new position in shares of Bandwidth in the second quarter valued at approximately $1,113,000. 272 Capital LP purchased a new stake in shares of Bandwidth during the second quarter valued at approximately $533,000. Finally, Thrivent Financial for Lutherans increased its position in shares of Bandwidth by 46.9% during the second quarter. Thrivent Financial for Lutherans now owns 59,125 shares of the company's stock valued at $998,000 after acquiring an additional 18,873 shares during the last quarter. 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.