Bandwidth Inc. (NASDAQ:BAND) Receives Average Recommendation of “Hold” from Analysts

Shares of Bandwidth Inc. (NASDAQ:BAND) have earned a consensus recommendation of “Hold” from the eight brokerages that are covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $21.00.

Several research firms have weighed in on BAND. Wall Street Zen cut Bandwidth from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Bandwidth in a research note on Wednesday, October 8th. Wedbush reiterated an “outperform” rating on shares of Bandwidth in a research note on Wednesday, September 17th. Finally, Robert W. Baird set a $16.00 price target on Bandwidth in a research note on Friday, October 31st.

Bandwidth Stock Performance

NASDAQ:BAND opened at $14.07 on Tuesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.39 and a quick ratio of 1.39. Bandwidth has a 1-year low of $11.33 and a 1-year high of $21.21. The business has a 50 day moving average of $15.47 and a 200 day moving average of $15.13. The company has a market capitalization of $429.26 million, a price-to-earnings ratio of -36.06 and a beta of 2.11.

Insider Buying and Selling

In other Bandwidth news, CFO Daryl Raiford sold 14,143 shares of the business’s stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $15.47, for a total value of $218,792.21. Following the completion of the sale, the chief financial officer directly owned 90,395 shares of the company’s stock, valued at $1,398,410.65. The trade was a 13.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Devin M. Krupka sold 7,166 shares of the firm’s stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $18.00, for a total transaction of $128,988.00. Following the transaction, the insider directly owned 19,192 shares in the company, valued at $345,456. This trade represents a 27.19% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 53,645 shares of company stock worth $849,148. Company insiders own 6.20% of the company’s stock.

Institutional Trading of Bandwidth

Large investors have recently bought and sold shares of the stock. Numerai GP LLC lifted its holdings in shares of Bandwidth by 62.3% in the 3rd quarter. Numerai GP LLC now owns 20,430 shares of the company’s stock valued at $341,000 after buying an additional 7,839 shares during the period. Mercer Global Advisors Inc. ADV lifted its holdings in Bandwidth by 2.1% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 53,681 shares of the company’s stock valued at $895,000 after purchasing an additional 1,129 shares in the last quarter. Brevan Howard Capital Management LP purchased a new stake in Bandwidth during the 3rd quarter valued at about $174,000. Algert Global LLC lifted its position in Bandwidth by 178.7% during the third quarter. Algert Global LLC now owns 160,977 shares of the company’s stock worth $2,683,000 after buying an additional 103,207 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its position in shares of Bandwidth by 10.5% during the 3rd quarter. Ameriprise Financial Inc. now owns 642,264 shares of the company’s stock valued at $10,707,000 after acquiring an additional 61,004 shares during the last quarter. Hedge funds and other institutional investors own 68.53% of the company’s stock.

About Bandwidth

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.