Brokerages Set Bandwidth Inc. (NASDAQ:BAND) PT at $25.63

Bandwidth Inc. (NASDAQ:BAND) has been given an average rating of “Hold” by the ten brokerages that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $25.63.

Several equities research analysts have issued reports on BAND shares. Robert W. Baird lifted their target price on shares of Bandwidth from $21.00 to $25.00 and gave the company a “neutral” rating in a research report on Wednesday, May 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Bandwidth in a report on Friday, May 10th. JMP Securities increased their target price on Bandwidth from $32.00 to $36.00 and gave the company a “market outperform” rating in a research note on Wednesday, May 8th. Barclays lifted their price target on Bandwidth from $22.00 to $28.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 8th. Finally, Canaccord Genuity Group increased their price objective on Bandwidth from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th.

Bandwidth Stock Up 2.1 %

BAND opened at $15.79 on Tuesday. The firm has a market capitalization of $426.46 million, a P/E ratio of -14.10 and a beta of 1.49. Bandwidth has a one year low of $9.34 and a one year high of $25.02. The company has a fifty day moving average price of $19.40 and a 200-day moving average price of $16.79. The company has a debt-to-equity ratio of 1.41, a current ratio of 2.36 and a quick ratio of 2.36.

Bandwidth (NASDAQ:BAND) last announced its earnings results on Tuesday, May 7th. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.08). The business had revenue of $171.03 million during the quarter, compared to the consensus estimate of $165.10 million. Bandwidth had a negative return on equity of 2.49% and a negative net margin of 4.60%. Equities research analysts expect that Bandwidth will post 0.16 earnings per share for the current fiscal year.

Insider Transactions at Bandwidth

In related news, insider Devin M. Krupka sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $21.61, for a total transaction of $54,025.00. Following the transaction, the insider now directly owns 7,262 shares in the company, valued at approximately $156,931.82. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO David A. Morken sold 1,290 shares of the company’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $20.40, for a total transaction of $26,316.00. Following the completion of the sale, the chief executive officer now directly owns 78,864 shares in the company, valued at approximately $1,608,825.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Devin M. Krupka sold 2,500 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $21.61, for a total transaction of $54,025.00. Following the completion of the sale, the insider now directly owns 7,262 shares in the company, valued at approximately $156,931.82. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 27,729 shares of company stock worth $566,540. Company insiders own 6.20% of the company’s stock.

Institutional Trading of Bandwidth

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Bandwidth by 1.1% during 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 period. Acadian Asset Management LLC increased its stake in shares of Bandwidth by 15.7% during the first quarter. Acadian Asset Management LLC now owns 341,303 shares of the company’s stock valued at $6,231,000 after buying an additional 46,342 shares during the period. Palogic Value Management L.P. raised its holdings in shares of Bandwidth by 17.0% during the fourth quarter. Palogic Value Management L.P. now owns 300,000 shares of the company’s stock valued at $4,341,000 after acquiring an additional 43,675 shares in the last quarter. G2 Investment Partners Management LLC purchased a new stake in Bandwidth in the fourth quarter worth $4,079,000. Finally, Parcion Private Wealth LLC boosted its holdings in Bandwidth by 1.0% in the fourth quarter. Parcion Private Wealth LLC now owns 216,428 shares of the company’s stock valued at $3,132,000 after acquiring an additional 2,153 shares in the last quarter. 68.53% of the stock is currently owned by hedge funds and other institutional investors.

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.