Analysts Set Bandwidth Inc. (NASDAQ:BAND) Target Price at $28.33

Shares of Bandwidth Inc. (NASDAQ:BAND) have been assigned an average recommendation of “Hold” from the seven research firms that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $28.33.

BAND has been the topic of several research reports. Robert W. Baird upped their target price on Bandwidth from $19.00 to $22.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Needham & Company LLC restated a “hold” rating on shares of Bandwidth in a report on Friday, November 1st. Finally, JMP Securities reiterated a “market outperform” rating and issued a $36.00 target price on shares of Bandwidth in a research note on Tuesday, August 27th.

Bandwidth Stock Performance

BAND stock opened at $19.55 on Tuesday. The firm has a 50 day simple moving average of $19.17 and a 200 day simple moving average of $18.21. Bandwidth has a 52 week low of $11.90 and a 52 week high of $25.02. The stock has a market cap of $537.82 million, a P/E ratio of -21.02 and a beta of 1.51. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.29 and a current ratio of 1.29.

Bandwidth (NASDAQ:BAND) last issued its earnings results on Thursday, October 31st. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.11. Bandwidth had a negative net margin of 2.23% and a negative return on equity of 0.89%. The company had revenue of $193.90 million during the quarter, compared to analyst estimates of $182.05 million. During the same quarter last year, the business posted $0.03 EPS. The company’s revenue for the quarter was up 27.6% on a year-over-year basis. Research analysts anticipate that Bandwidth will post 0.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Daryl Raiford sold 4,371 shares of Bandwidth stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $20.70, for a total value of $90,479.70. Following the transaction, the chief financial officer now owns 93,451 shares in the company, valued at $1,934,435.70. This trade represents a 4.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Devin M. Krupka sold 3,658 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $21.26, for a total transaction of $77,769.08. Following the sale, the insider now owns 11,097 shares of the company’s stock, valued at $235,922.22. This trade represents a 24.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 44,733 shares of company stock valued at $948,310 over the last 90 days. 6.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Bandwidth

Several large investors have recently made changes to their positions in BAND. Innealta Capital LLC bought a new position in Bandwidth in the 2nd quarter worth approximately $30,000. nVerses Capital LLC grew its stake in shares of Bandwidth by 80.0% in the third quarter. nVerses Capital LLC now owns 1,800 shares of the company’s stock worth $32,000 after acquiring an additional 800 shares during the last quarter. Redwood Wealth Management Group LLC bought a new position in Bandwidth during the second quarter worth $35,000. Quarry LP raised its stake in Bandwidth by 157.6% during the 3rd 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 last quarter. Finally, Daiwa Securities Group Inc. bought a new stake in Bandwidth in the 2nd quarter valued at $57,000. Institutional investors and hedge funds 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.