Shares of Bandwidth (NASDAQ:BAND) have received a consensus recommendation of “Buy” from the seven research firms that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a hold rating and six have given 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 $38.00.
Several equities analysts have recently weighed in on the stock. Dougherty & Co assumed coverage on shares of Bandwidth in a report on Tuesday, April 10th. They set a “buy” rating on the stock. Robert W. Baird reissued an “outperform” rating and set a $30.00 target price (up from $28.00) on shares of Bandwidth in a research report on Thursday, February 22nd. KeyCorp boosted their target price on shares of Bandwidth from $31.00 to $42.00 and gave the stock an “overweight” rating in a research report on Thursday, May 3rd. Canaccord Genuity boosted their target price on shares of Bandwidth from $30.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, May 3rd. Finally, ValuEngine downgraded shares of Bandwidth from a “hold” rating to a “sell” rating in a research report on Thursday, March 1st.
Several large investors have recently bought and sold shares of the company. Barclays PLC bought a new stake in shares of Bandwidth during the first quarter worth about $262,000. Northern Trust Corp bought a new stake in Bandwidth in the 1st quarter worth about $263,000. Wedbush Securities Inc. bought a new stake in Bandwidth in the 1st quarter worth about $269,000. Virtu Financial LLC bought a new stake in Bandwidth in the 4th quarter worth about $277,000. Finally, Archon Capital Management LLC bought a new stake in Bandwidth in the 1st quarter worth about $531,000. 21.20% of the stock is owned by institutional investors.
Shares of NASDAQ BAND opened at $34.62 on Wednesday. Bandwidth has a 1-year low of $34.31 and a 1-year high of $34.78. The stock has a market cap of $616.84 million and a PE ratio of 70.65.
Bandwidth (NASDAQ:BAND) last announced its quarterly earnings data on Wednesday, May 2nd. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.02. The company had revenue of $53.00 million for the quarter, compared to analyst estimates of $47.19 million. During the same quarter in the prior year, the company posted $0.22 EPS. Bandwidth’s revenue for the quarter was up 33.8% on a year-over-year basis. sell-side analysts forecast that Bandwidth will post -0.14 EPS for the current fiscal year.
Bandwidth Inc operates as a cloud-based software-powered communications platform-as-a-service (CPaaS) provides in the United States. The company operates through two segments, CPaaS and Other. Its platform enables enterprises to create, scale, and operate voice or text communications services across mobile application or connected device.
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