Bandwidth Inc. (NASDAQ:BAND) Receives $25.63 Average Price Target from Analysts

Shares of Bandwidth Inc. (NASDAQ:BAND) have been assigned an average recommendation of “Hold” from the ten brokerages that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and five have given a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $25.63.

Several research analysts have recently issued reports on BAND shares. JMP Securities increased their target price on Bandwidth from $32.00 to $36.00 and gave the stock a “market outperform” rating in a research report on Wednesday, May 8th. Morgan Stanley downgraded Bandwidth from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $18.00 to $15.00 in a report on Friday, June 14th. Robert W. Baird boosted their target price on shares of Bandwidth from $21.00 to $25.00 and gave the company a “neutral” rating in a report on Wednesday, May 8th. KeyCorp upped their target price on shares of Bandwidth from $21.00 to $32.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 8th. Finally, Barclays lifted their price target on shares of Bandwidth from $22.00 to $28.00 and gave the company an “overweight” rating in a research report on Wednesday, May 8th.

Insider Buying and Selling

In other Bandwidth news, insider Devin M. Krupka sold 2,500 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Bandwidth news, Director Lukas M. Roush purchased 4,963 shares of the stock in a transaction dated Friday, June 14th. The shares were purchased at an average cost of $16.12 per share, with a total value of $80,003.56. Following the completion of the acquisition, the director now directly owns 43,167 shares in the company, valued at approximately $695,852.04. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Devin M. Krupka sold 2,500 shares of Bandwidth stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $21.61, for a total value of $54,025.00. Following the completion of the sale, the insider now owns 7,262 shares of the company’s stock, valued at $156,931.82. The disclosure for this sale can be found here. Insiders have sold a total of 27,729 shares of company stock worth $566,540 in the last quarter. Corporate insiders own 6.20% of the company’s stock.

Institutional Trading of Bandwidth

Institutional investors have recently made changes to their positions in the stock. Ameritas Investment Partners Inc. raised its holdings in shares of Bandwidth by 31.6% during the first quarter. Ameritas Investment Partners Inc. now owns 2,355 shares of the company’s stock valued at $43,000 after purchasing an additional 565 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new stake in Bandwidth in the 3rd quarter worth approximately $75,000. Quest Partners LLC purchased a new stake in Bandwidth during the 4th quarter valued at $145,000. Bayesian Capital Management LP bought a new position in shares of Bandwidth during the 1st quarter valued at $187,000. Finally, Resurgent Financial Advisors LLC boosted its stake in shares of Bandwidth by 4.6% in the 1st quarter. Resurgent Financial Advisors LLC now owns 11,840 shares of the company’s stock worth $216,000 after buying an additional 520 shares during the last quarter. Hedge funds and other institutional investors own 68.53% of the company’s stock.

Bandwidth Stock Down 0.9 %

Shares of Bandwidth stock opened at $15.65 on Tuesday. The company has a current ratio of 2.36, a quick ratio of 2.36 and a debt-to-equity ratio of 1.41. Bandwidth has a 12-month low of $9.34 and a 12-month high of $25.02. The company has a market cap of $422.71 million, a P/E ratio of -13.97 and a beta of 1.49. The company’s fifty day simple moving average is $19.37 and its two-hundred day simple moving average is $16.85.

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