Bandwidth (NASDAQ:BAND) Earns "Hold" Rating from Needham & Company LLC

Bandwidth (NASDAQ:BAND - Get Free Report)'s stock had its "hold" rating reissued by analysts at Needham & Company LLC in a report issued on Friday, Benzinga reports.

A number of other analysts have also recently issued reports on BAND. Barclays cut their price objective on Bandwidth from $28.00 to $25.00 and set an "overweight" rating for the company in a research report on Friday, August 2nd. JMP Securities reaffirmed a "market outperform" rating and issued a $36.00 price objective on shares of Bandwidth in a research report on Tuesday, August 27th. Finally, Robert W. Baird cut their price objective on Bandwidth from $25.00 to $19.00 and set a "neutral" rating for the company in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $26.14.

Bandwidth Stock Down 4.1 %

BAND stock traded down $0.80 during mid-day trading on Friday, reaching $18.70. The company had a trading volume of 434,542 shares, compared to its average volume of 313,033. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.16 and a quick ratio of 1.16. The stock has a 50 day simple moving average of $17.47 and a two-hundred day simple moving average of $18.27. The company has a market capitalization of $510.51 million, a price-to-earnings ratio of -17.46 and a beta of 1.51. Bandwidth has a 52 week low of $10.22 and a 52 week high of $25.02.

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

Insider Buying and Selling

In other Bandwidth news, CFO Daryl Raiford sold 4,350 shares of Bandwidth stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $16.97, for a total value of $73,819.50. Following the completion of the transaction, the chief financial officer now directly owns 71,546 shares of the company's stock, valued at $1,214,135.62. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders sold 8,525 shares of company stock valued at $146,548. Insiders own 6.20% of the company's stock.

Hedge Funds Weigh In On Bandwidth

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BAND. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Bandwidth by 100.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,132 shares of the company's stock valued at $386,000 after purchasing an additional 10,571 shares during the last quarter. BNP Paribas Financial Markets increased its stake in shares of Bandwidth by 84.4% in the 1st quarter. BNP Paribas Financial Markets now owns 13,690 shares of the company's stock valued at $250,000 after purchasing an additional 6,266 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new position in shares of Bandwidth in the 1st quarter valued at $1,143,000. Vanguard Group Inc. increased its stake in shares of Bandwidth by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 1,536,051 shares of the company's stock valued at $28,048,000 after purchasing an additional 16,181 shares during the last quarter. Finally, Acadian Asset Management LLC increased its stake in shares of Bandwidth by 15.7% in the 1st quarter. Acadian Asset Management LLC now owns 341,303 shares of the company's stock valued at $6,231,000 after purchasing an additional 46,342 shares during the last quarter. 68.53% of the stock is owned by institutional investors and hedge funds.

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.