Bandwidth Inc. (NASDAQ:BAND) Given Average Rating of “Moderate Buy” by Analysts

Bandwidth Inc. (NASDAQ:BAND) has been given a consensus rating of “Moderate Buy” by the six research firms that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $20.80.

A number of equities analysts have weighed in on BAND shares. Morgan Stanley decreased their price target on Bandwidth from $18.00 to $11.00 and set an “underweight” rating for the company in a report on Wednesday, April 16th. Needham & Company LLC started coverage on Bandwidth in a research note on Wednesday, May 7th. They set a “buy” rating and a $20.00 target price for the company. William Blair reiterated an “outperform” rating on shares of Bandwidth in a research note on Friday, February 21st. Barclays reduced their target price on Bandwidth from $25.00 to $22.00 and set an “overweight” rating for the company in a research note on Friday, February 21st. Finally, Robert W. Baird reduced their target price on Bandwidth from $20.00 to $15.00 and set a “neutral” rating for the company in a research note on Thursday, May 8th.

Insider Buying and Selling

In related news, CEO David A. Morken sold 13,653 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $15.70, for a total transaction of $214,352.10. Following the transaction, the chief executive officer now directly owns 142,439 shares in the company, valued at $2,236,292.30. This trade represents a 8.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Richard Brandon Asbill sold 5,629 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $15.70, for a total value of $88,375.30. Following the transaction, the general counsel now owns 57,475 shares in the company, valued at $902,357.50. This trade represents a 8.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 63,721 shares of company stock worth $992,965 over the last ninety days. 6.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Bandwidth

Large investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. increased its position in Bandwidth by 12.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 300,076 shares of the company’s stock worth $5,107,000 after buying an additional 32,709 shares during the period. Versor Investments LP increased its position in Bandwidth by 136.1% in the fourth quarter. Versor Investments LP now owns 27,757 shares of the company’s stock worth $472,000 after buying an additional 16,000 shares during the period. Counterpoint Mutual Funds LLC acquired a new stake in Bandwidth in the fourth quarter worth $384,000. Vanguard Group Inc. increased its position in Bandwidth by 4.3% in the fourth quarter. Vanguard Group Inc. now owns 1,769,027 shares of the company’s stock worth $30,109,000 after buying an additional 73,623 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in Bandwidth by 9.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,249,120 shares of the company’s stock worth $21,260,000 after buying an additional 112,269 shares during the period. 68.53% of the stock is owned by institutional investors and hedge funds.

Bandwidth Stock Down 0.3%

NASDAQ BAND opened at $14.34 on Friday. The stock has a market cap of $410.47 million, a PE ratio of -25.16 and a beta of 1.88. Bandwidth has a fifty-two week low of $11.33 and a fifty-two week high of $23.90. The business has a 50 day moving average price of $13.32 and a two-hundred day moving average price of $16.46. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.90.

Bandwidth (NASDAQ:BAND) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.07. The firm had revenue of $174.24 million during the quarter, compared to analysts’ expectations of $168.96 million. Bandwidth had a positive return on equity of 0.53% and a negative net margin of 0.87%. Bandwidth’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.27 EPS. As a group, sell-side analysts predict that Bandwidth will post 0.22 EPS for the current fiscal year.

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.