Bandwidth Inc (NASDAQ:BAND) Receives Consensus Recommendation of “Buy” from Brokerages

Bandwidth Inc (NASDAQ:BAND) has earned a consensus recommendation of “Buy” from the seven ratings firms that are presently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $80.00.

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. started coverage on shares of Bandwidth in a research note on Wednesday, July 3rd. They issued an “overweight” rating and a $90.00 target price on the stock. Zacks Investment Research cut shares of Bandwidth from a “buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. Morgan Stanley cut shares of Bandwidth from an “underweight” rating to an “equal” rating in a research report on Tuesday. Finally, ValuEngine upgraded shares of Bandwidth from a “sell” rating to a “hold” rating in a research report on Tuesday.

In other Bandwidth news, CFO Jeffrey A. Hoffman sold 10,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $85.04, for a total transaction of $850,400.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Henry R. Kaestner sold 16,685 shares of the stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $85.45, for a total transaction of $1,425,733.25. The disclosure for this sale can be found here. 15.27% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Wedbush Securities Inc. increased its holdings in Bandwidth by 1.3% in the 3rd quarter. Wedbush Securities Inc. now owns 32,364 shares of the company’s stock worth $2,107,000 after buying an additional 420 shares in the last quarter. Park West Asset Management LLC bought a new stake in Bandwidth in the 2nd quarter worth about $5,251,000. Chartwell Investment Partners LLC increased its holdings in Bandwidth by 54.8% in the 2nd quarter. Chartwell Investment Partners LLC now owns 55,344 shares of the company’s stock worth $4,152,000 after buying an additional 19,585 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. increased its holdings in Bandwidth by 118.3% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 738 shares of the company’s stock worth $55,000 after buying an additional 400 shares in the last quarter. Finally, Susquehanna International Group LLP increased its holdings in Bandwidth by 105.5% in the 2nd quarter. Susquehanna International Group LLP now owns 9,054 shares of the company’s stock worth $679,000 after buying an additional 4,648 shares in the last quarter. Institutional investors and hedge funds own 65.47% of the company’s stock.

Shares of BAND opened at $55.80 on Wednesday. The firm’s 50 day simple moving average is $68.94 and its 200 day simple moving average is $74.31. The company has a market capitalization of $1.34 billion, a P/E ratio of 180.00 and a beta of 0.60. Bandwidth has a 1-year low of $27.75 and a 1-year high of $90.63.

Bandwidth (NASDAQ:BAND) last announced its earnings results on Wednesday, July 31st. The company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.19. The business had revenue of $56.80 million for the quarter, compared to the consensus estimate of $55.06 million. Bandwidth had a net margin of 3.14% and a negative return on equity of 4.97%. Bandwidth’s quarterly revenue was up 17.6% on a year-over-year basis. During the same period last year, the firm posted $0.20 earnings per share. As a group, research analysts anticipate that Bandwidth will post -0.68 EPS for the current year.

Bandwidth Company Profile

Bandwidth Inc operates as a cloud-based software-powered communications platform-as-a-service (CPaaS) provider 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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