Bandwidth Inc. (NASDAQ:BAND) Receives $25.71 Consensus Target Price from Analysts

Bandwidth Inc. (NASDAQ:BANDGet Free Report) has earned a consensus rating of “Hold” from the nine analysts that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and five have given a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $25.71.

A number of equities analysts have issued reports on the company. JMP Securities reaffirmed a “market outperform” rating and set a $36.00 price target on shares of Bandwidth in a research note on Tuesday, August 27th. Needham & Company LLC reaffirmed a “hold” rating on shares of Bandwidth in a report on Friday, August 2nd. Morgan Stanley downgraded shares of Bandwidth from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $18.00 to $15.00 in a report on Friday, June 14th. Barclays lowered their price objective on shares of Bandwidth from $28.00 to $25.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Finally, Robert W. Baird cut their target price on shares of 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 Report on Bandwidth

Insider Buying and Selling at Bandwidth

In other news, CFO Daryl Raiford sold 4,350 shares of Bandwidth stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 71,546 shares of the company’s stock, valued at $1,214,135.62. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders sold 10,294 shares of company stock valued at $185,855. 6.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Point72 Asset Management L.P. grew its stake in Bandwidth by 411.1% during the 2nd quarter. Point72 Asset Management L.P. now owns 597,933 shares of the company’s stock valued at $10,093,000 after acquiring an additional 480,933 shares in the last quarter. G2 Investment Partners Management LLC purchased a new position in Bandwidth during the fourth quarter valued at approximately $4,079,000. Acadian Asset Management LLC increased its stake in Bandwidth by 79.8% in the 2nd quarter. Acadian Asset Management LLC now owns 613,612 shares of the company’s stock valued at $10,353,000 after buying an additional 272,309 shares during the period. Squarepoint Ops LLC purchased a new stake in Bandwidth in the 2nd quarter worth approximately $1,113,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of Bandwidth during the 1st quarter valued at $1,143,000. 68.53% of the stock is owned by institutional investors and hedge funds.

Bandwidth Stock Performance

BAND stock opened at $17.42 on Thursday. The company has a 50-day simple moving average of $17.36 and a 200 day simple moving average of $18.29. The company has a market capitalization of $470.48 million, a P/E ratio of -15.55 and a beta of 1.50. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.91. Bandwidth has a fifty-two week low of $9.34 and a fifty-two week high of $25.02.

Bandwidth (NASDAQ:BANDGet Free Report) last issued its quarterly earnings results 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. Bandwidth had a negative net margin of 3.21% and a negative return on equity of 1.89%. The company had revenue of $174.00 million during the quarter, compared to analyst estimates of $173.18 million. During the same period in the prior year, the business posted ($0.09) EPS. The business’s revenue for the quarter was up 19.2% compared to the same quarter last year. Sell-side analysts predict that Bandwidth will post 0.11 earnings per share for the current fiscal year.

About Bandwidth

(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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Analyst Recommendations for Bandwidth (NASDAQ:BAND)

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