Bandwidth Inc. (NASDAQ:BAND) Receives Consensus Rating of “Hold” from Brokerages

by · The Markets Daily

Shares of Bandwidth Inc. (NASDAQ:BAND – Get Free Report) have been given an average recommendation of “Hold” by the nine analysts that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $25.71.

Several equities research analysts have weighed in on BAND shares. JMP Securities reiterated a “market outperform” rating and issued a $36.00 price objective on shares of Bandwidth in a report on Tuesday, August 27th. Needham & Company LLC restated a “hold” rating on shares of Bandwidth in a report on Friday, August 2nd. Barclays dropped their target price on shares of Bandwidth from $28.00 to $25.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Morgan Stanley downgraded shares of Bandwidth from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $18.00 to $15.00 in a report on Friday, June 14th. 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 note on Friday, August 2nd.

Read Our Latest Stock Analysis on BAND

Bandwidth Stock Performance

Bandwidth stock opened at $17.51 on Thursday. The firm has a market capitalization of $472.91 million, a PE ratio of -15.63 and a beta of 1.50. Bandwidth has a 1-year low of $9.34 and a 1-year high of $25.02. The firm’s 50 day simple moving average is $17.53 and its 200 day simple moving average is $18.30. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.91.

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

Insider Activity at Bandwidth

In other news, CFO Daryl Raiford sold 1,769 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $22.22, for a total value of $39,307.18. Following the completion of the sale, the chief financial officer now owns 63,397 shares in the company, valued at approximately $1,408,681.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last quarter, insiders sold 10,294 shares of company stock valued at $185,855. Insiders own 6.20% of the company’s stock.

Institutional Trading of Bandwidth

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Innealta Capital LLC purchased a new stake in Bandwidth in the second quarter worth $30,000. Redwood Wealth Management Group LLC purchased a new position in Bandwidth in the 2nd quarter worth about $35,000. Ameritas Investment Partners Inc. lifted its holdings in Bandwidth by 31.6% during the 1st quarter. Ameritas Investment Partners Inc. now owns 2,355 shares of the company’s stock valued at $43,000 after buying an additional 565 shares in the last quarter. Daiwa Securities Group Inc. purchased a new stake in Bandwidth in the 2nd quarter valued at about $57,000. Finally, Quest Partners LLC purchased a new stake in Bandwidth in the 4th quarter valued at about $145,000. 68.53% of the stock is owned by hedge funds and other institutional investors.

Bandwidth Company Profile

(Get Free Report

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.

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