Analysts Set Bandwidth Inc. (NASDAQ:BAND) Target Price at $20.80

Shares of Bandwidth Inc. (NASDAQ:BAND) have been given an average rating of “Moderate Buy” by the six analysts that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $20.80.

Several analysts have weighed in on BAND shares. Barclays lowered their target price on shares of Bandwidth from $25.00 to $22.00 and set an “overweight” rating for the company in a research note on Friday, February 21st. William Blair reaffirmed an “outperform” rating on shares of Bandwidth in a research report on Friday, February 21st. JMP Securities reaffirmed a “market outperform” rating and set a $36.00 price objective on shares of Bandwidth in a research report on Thursday, May 15th. Robert W. Baird lowered their price objective on shares of Bandwidth from $20.00 to $15.00 and set a “neutral” rating for the company in a research report on Thursday, May 8th. Finally, Morgan Stanley lowered their target price on Bandwidth from $18.00 to $11.00 and set an “underweight” rating for the company in a report on Wednesday, April 16th.

Bandwidth Stock Up 5.1%

Shares of Bandwidth stock opened at $14.95 on Tuesday. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.90. The firm has a market cap of $444.96 million, a P/E ratio of -26.23 and a beta of 1.82. Bandwidth has a fifty-two week low of $11.33 and a fifty-two week high of $23.90. The business has a 50-day moving average price of $13.21 and a 200 day moving average price of $15.88.

Bandwidth (NASDAQ:BAND) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.07. Bandwidth had a positive return on equity of 0.53% and a negative net margin of 0.87%. The business had revenue of $174.24 million during the quarter, compared to the consensus estimate of $168.96 million. During the same period in the previous year, the business earned $0.27 EPS. The business’s quarterly revenue was up 1.8% on a year-over-year basis. On average, sell-side analysts forecast that Bandwidth will post 0.22 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, General Counsel Richard Brandon Asbill sold 1,914 shares of the stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $14.47, for a total value of $27,695.58. Following the completion of the transaction, the general counsel now directly owns 47,014 shares of the company’s stock, valued at $680,292.58. This represents a 3.91% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO David A. Morken sold 4,999 shares of the stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $14.47, for a total value of $72,335.53. Following the completion of the transaction, the chief executive officer now directly owns 6,964 shares of the company’s stock, valued at $100,769.08. This trade represents a 41.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,676 shares of company stock worth $355,922 in the last three months. 6.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Bandwidth

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Covestor Ltd bought a new position in shares of Bandwidth in the fourth quarter worth $25,000. New Age Alpha Advisors LLC bought a new position in Bandwidth in the 4th quarter valued at about $50,000. SBI Securities Co. Ltd. bought a new position in Bandwidth in the 4th quarter valued at about $69,000. US Bancorp DE grew its position in Bandwidth by 11,281.3% in the 1st quarter. US Bancorp DE now owns 5,463 shares of the company’s stock valued at $72,000 after buying an additional 5,415 shares in the last quarter. Finally, Harbor Capital Advisors Inc. bought a new position in Bandwidth in the 1st quarter valued at about $72,000. 68.53% of the stock is owned by institutional investors.

Bandwidth Company Profile

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.