Bandwidth Inc. (NASDAQ:BAND) Receives $20.80 Average PT from Analysts

Bandwidth Inc. (NASDAQ:BAND) has been given a consensus recommendation of “Hold” by the eight ratings firms that are currently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $21.00.

BAND has been the topic of a number of analyst reports. Robert W. Baird set a $16.00 price objective on shares of Bandwidth in a research report on Friday, October 31st. Wedbush reaffirmed an “outperform” rating on shares of Bandwidth in a report on Wednesday, September 17th. Wall Street Zen downgraded Bandwidth from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Bandwidth in a research report on Wednesday, October 8th.

Bandwidth Price Performance

BAND opened at $14.26 on Friday. The firm has a market capitalization of $429.80 million, a PE ratio of -36.56 and a beta of 1.92. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.39 and a quick ratio of 1.39. The business’s 50-day moving average is $16.17 and its two-hundred day moving average is $14.96. Bandwidth has a 1 year low of $11.33 and a 1 year high of $22.22.

Insiders Place Their Bets

In other news, CFO Daryl Raiford sold 14,143 shares of the business’s stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $15.47, for a total transaction of $218,792.21. Following the sale, the chief financial officer owned 90,395 shares in the company, valued at approximately $1,398,410.65. The trade was a 13.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Devesh Agarwal sold 1,745 shares of the company’s stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $15.09, for a total transaction of $26,332.05. Following the transaction, the chief operating officer owned 67,263 shares in the company, valued at approximately $1,014,998.67. This trade represents a 2.53% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 70,092 shares of company stock valued at $1,093,237. 6.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Bandwidth

Institutional investors and hedge funds have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC lifted its holdings in shares of Bandwidth by 53.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 21,876 shares of the company’s stock worth $287,000 after purchasing an additional 7,661 shares during the period. CWM LLC raised its position in Bandwidth by 326.8% during the 1st quarter. CWM LLC now owns 7,460 shares of the company’s stock worth $98,000 after buying an additional 5,712 shares during the last quarter. CX Institutional purchased a new position in Bandwidth during the 2nd quarter worth approximately $241,000. Nuveen LLC acquired a new stake in Bandwidth during the 1st quarter valued at approximately $7,916,000. Finally, AQR Capital Management LLC boosted its holdings in shares of Bandwidth by 303.1% in the 1st quarter. AQR Capital Management LLC now owns 393,907 shares of the company’s stock valued at $5,160,000 after acquiring an additional 296,199 shares during the last quarter. 68.53% of the stock is currently owned by institutional investors and hedge funds.

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.