Brokerages Set Bandwidth Inc. (NASDAQ:BAND) Target Price at $25.63

Bandwidth Inc. (NASDAQ:BANDGet Free Report) has earned a consensus rating of “Hold” from the ten brokerages that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month target price among brokerages 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. Canaccord Genuity Group boosted their price objective on shares of Bandwidth from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. KeyCorp lifted their price objective on Bandwidth from $21.00 to $32.00 and gave the stock an “overweight” rating in a report on Wednesday, May 8th. Needham & Company LLC restated a “hold” rating on shares of Bandwidth in a research note on Friday, May 10th. JMP Securities boosted their price target on shares of Bandwidth from $32.00 to $36.00 and gave the company a “market outperform” rating in a report on Wednesday, May 8th. Finally, Robert W. Baird raised their price objective on shares of Bandwidth from $21.00 to $25.00 and gave the stock a “neutral” rating in a report on Wednesday, May 8th.

Get Our Latest Research Report on BAND

Bandwidth Price Performance

NASDAQ BAND opened at $15.79 on Tuesday. The stock has a 50-day simple moving average of $19.40 and a 200 day simple moving average of $16.79. Bandwidth has a twelve month low of $9.34 and a twelve month high of $25.02. The stock has a market capitalization of $426.46 million, a PE ratio of -14.10 and a beta of 1.49. The company has a debt-to-equity ratio of 1.41, a quick ratio of 2.36 and a current ratio of 2.36.

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

Insider Activity

In related news, insider Devin M. Krupka sold 2,500 shares of Bandwidth 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 transaction, the insider now directly owns 7,262 shares of the company’s stock, valued at approximately $156,931.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO David A. Morken sold 1,290 shares of the firm’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $20.40, for a total transaction of $26,316.00. Following the completion of the sale, the chief executive officer now directly owns 78,864 shares of the company’s stock, valued at approximately $1,608,825.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Devin M. Krupka sold 2,500 shares of the business’s stock in a transaction on 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 transaction, the insider now directly owns 7,262 shares in the company, valued at approximately $156,931.82. The disclosure for this sale can be found here. In the last quarter, insiders have sold 27,729 shares of company stock worth $566,540. Corporate insiders own 6.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. G2 Investment Partners Management LLC acquired a new stake in Bandwidth in the 4th quarter valued at about $4,079,000. Hussman Strategic Advisors Inc. increased its holdings in shares of Bandwidth by 366.7% in the fourth quarter. Hussman Strategic Advisors Inc. now owns 147,000 shares of the company’s stock valued at $2,127,000 after purchasing an additional 115,500 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in Bandwidth during the 1st quarter worth $1,143,000. B. Riley Asset Management LLC acquired a new position in Bandwidth during the 3rd quarter worth $682,000. Finally, Acadian Asset Management LLC boosted its position in Bandwidth by 15.7% in the 1st quarter. Acadian Asset Management LLC now owns 341,303 shares of the company’s stock valued at $6,231,000 after buying an additional 46,342 shares during the last quarter. 68.53% of the stock is owned by 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.

Further Reading

Analyst Recommendations for Bandwidth (NASDAQ:BAND)

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