Brokerages Set Bandwidth Inc. (NASDAQ:BAND) PT at $19.71

Bandwidth Inc. (NASDAQ:BAND) has earned an average recommendation of “Moderate Buy” from the seven brokerages that are covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $20.50.

BAND has been the subject of a number of research analyst reports. KeyCorp boosted their target price on Bandwidth from $16.00 to $21.00 and gave the company an “overweight” rating in a research report on Thursday, February 29th. Canaccord Genuity Group raised their price target on shares of Bandwidth from $36.00 to $38.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. Finally, Barclays lifted their price objective on shares of Bandwidth from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th.

Insider Transactions at Bandwidth

In related news, COO Anthony Bartolo sold 7,798 shares of the company’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $18.75, for a total transaction of $146,212.50. Following the sale, the chief operating officer now directly owns 76,469 shares in the company, valued at approximately $1,433,793.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 12,556 shares of company stock worth $239,567 over the last quarter. Corporate insiders own 6.20% of the company’s stock.

Institutional Trading of Bandwidth

Several institutional investors and hedge funds have recently modified their holdings of BAND. BNP Paribas Financial Markets grew its holdings in shares of Bandwidth by 84.4% during the first quarter. BNP Paribas Financial Markets now owns 13,690 shares of the company’s stock worth $250,000 after purchasing an additional 6,266 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Bandwidth by 100.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,132 shares of the company’s stock worth $386,000 after buying an additional 10,571 shares in the last quarter. Los Angeles Capital Management LLC bought a new position in shares of Bandwidth in the 1st quarter worth $364,000. Palogic Value Management L.P. increased its holdings in shares of Bandwidth by 17.0% in the 4th quarter. Palogic Value Management L.P. now owns 300,000 shares of the company’s stock worth $4,341,000 after buying an additional 43,675 shares during the last quarter. Finally, G2 Investment Partners Management LLC purchased a new stake in shares of Bandwidth during the 4th quarter valued at $4,079,000. Hedge funds and other institutional investors own 68.53% of the company’s stock.

Bandwidth Stock Performance

NASDAQ:BAND opened at $19.26 on Monday. The company has a debt-to-equity ratio of 1.41, a quick ratio of 2.06 and a current ratio of 2.06. Bandwidth has a fifty-two week low of $9.34 and a fifty-two week high of $21.68. The company has a 50 day simple moving average of $18.20 and a two-hundred day simple moving average of $14.63. The company has a market capitalization of $505.96 million, a PE ratio of -18.34 and a beta of 1.44.

Bandwidth (NASDAQ:BAND) last posted its quarterly earnings data on Wednesday, February 28th. The company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.01). Bandwidth had a negative return on equity of 3.10% and a negative net margin of 2.72%. The firm had revenue of $165.00 million for the quarter, compared to analyst estimates of $154.17 million. During the same quarter last year, the company earned $0.04 earnings per share. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. Research analysts anticipate that Bandwidth will post 0.19 earnings per share for the current year.

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.