Analysts Set Bandwidth Inc. (NASDAQ:BAND) Target Price at $25.71

Bandwidth Inc. (NASDAQ:BAND) has been assigned an average rating of “Hold” from the nine brokerages that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $25.71.

BAND has been the subject of a number of recent analyst reports. Barclays lowered their price target on shares of Bandwidth from $28.00 to $25.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. JMP Securities reiterated a “market outperform” rating and set a $36.00 price target on shares of Bandwidth in a report on Tuesday, August 27th. Needham & Company LLC reiterated a “hold” rating on shares of Bandwidth in a report on Friday, August 2nd. Finally, Robert W. Baird lowered their price target on shares of Bandwidth from $25.00 to $19.00 and set a “neutral” rating for the company in a report on Friday, August 2nd.

Bandwidth Trading Up 1.1 %

Shares of BAND opened at $17.88 on Monday. The firm has a market cap of $482.90 million, a price-to-earnings ratio of -15.96 and a beta of 1.51. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.16 and a current ratio of 1.16. Bandwidth has a fifty-two week low of $9.34 and a fifty-two week high of $25.02. The firm has a 50 day moving average price of $17.32 and a 200-day moving average price of $18.24.

Bandwidth (NASDAQ:BAND) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.01. The firm had revenue of $174.00 million during the quarter, compared to analyst estimates of $173.18 million. Bandwidth had a negative net margin of 3.21% and a negative return on equity of 1.89%. During the same period in the previous year, the business posted ($0.09) EPS. The business’s quarterly revenue was up 19.2% on a year-over-year basis. As a group, equities research analysts forecast that Bandwidth will post 0.11 earnings per share for the current year.

Insiders Place Their Bets

In other Bandwidth news, CFO Daryl Raiford sold 4,350 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $16.97, for a total value of $73,819.50. Following the completion of the transaction, the chief financial officer now directly owns 71,546 shares in the company, valued at approximately $1,214,135.62. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders sold 8,525 shares of company stock worth $146,548. 6.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Bandwidth

Hedge funds and other institutional investors have recently modified their holdings of the business. Innealta Capital LLC purchased a new stake in shares of Bandwidth in the 2nd quarter worth about $30,000. nVerses Capital LLC grew its position in shares of Bandwidth by 80.0% in the 3rd quarter. nVerses Capital LLC now owns 1,800 shares of the company’s stock worth $32,000 after buying an additional 800 shares during the period. Redwood Wealth Management Group LLC purchased a new stake in shares of Bandwidth in the 2nd quarter worth about $35,000. Ameritas Investment Partners Inc. grew its position in shares of Bandwidth by 31.6% in the 1st quarter. Ameritas Investment Partners Inc. now owns 2,355 shares of the company’s stock worth $43,000 after buying an additional 565 shares during the period. Finally, Daiwa Securities Group Inc. purchased a new stake in shares of Bandwidth in the 2nd quarter worth about $57,000. 68.53% of the stock is 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.