Bandwidth Inc. (NASDAQ:BAND) Stock Now Rated “Hold” by Wall Street Analysts

Shares of Bandwidth Inc. (NASDAQ:BAND) have been given a consensus recommendation of “Hold” by the nine analysts that are covering the stock, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $66.67.

BAND has been the topic of several recent analyst reports. Needham & Company LLC reaffirmed a “buy” rating on shares of Bandwidth in a research note on Wednesday. Citizens Jmp increased their price objective on shares of Bandwidth from $70.00 to $86.00 and gave the stock a “market outperform” rating in a research report on Monday, July 20th. Weiss Ratings raised Bandwidth from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, November 4th. Morgan Stanley boosted their price objective on Bandwidth from $56.00 to $57.00 and gave the company an “equal weight” rating in a report on Friday, October 30th. Finally, Piper Sandler increased their target price on Bandwidth from $38.00 to $52.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 19th.

Insider Buying and Selling at Bandwidth

In related news, CFO Daryl E. Raiford sold 4,673 shares of Bandwidth stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $49.15, for a total value of $229,677.95. Following the completion of the transaction, the chief financial officer owned 35,832 shares in the company, valued at approximately $1,761,142.80. The trade was a 11.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Douglas A. Suriano sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, November 12th. The stock was sold at an average price of $46.59, for a total transaction of $186,360.00. Following the sale, the director directly owned 41,410 shares in the company, valued at approximately $1,929,291.90. The trade was a 8.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 29,050 shares of company stock valued at $1,414,702. Corporate insiders own 5.26% of the company’s stock.

Institutional Trading of Bandwidth

Hedge funds have recently modified their holdings of the stock. Entropy Technologies LP boosted its stake in shares of Bandwidth by 157.1% in the 3rd quarter. Entropy Technologies LP now owns 41,753 shares of the company’s stock valued at $2,535,000 after buying an additional 25,512 shares during the period. Jump Financial LLC increased its stake in shares of Bandwidth by 33.3% during the third quarter. Jump Financial LLC now owns 236,000 shares of the company’s stock worth $14,328,000 after buying an additional 58,989 shares during the period. Marshall Wace LLP increased its stake in shares of Bandwidth by 201.5% during the third quarter. Marshall Wace LLP now owns 579,199 shares of the company’s stock worth $35,163,000 after buying an additional 387,117 shares during the period. Empowered Funds LLC raised its holdings in Bandwidth by 2.0% in the third quarter. Empowered Funds LLC now owns 164,265 shares of the company’s stock valued at $9,973,000 after acquiring an additional 3,291 shares in the last quarter. Finally, First Trust Advisors LP raised its holdings in Bandwidth by 49.8% in the third quarter. First Trust Advisors LP now owns 10,913 shares of the company’s stock valued at $663,000 after acquiring an additional 3,627 shares in the last quarter. 68.53% of the stock is currently owned by institutional investors and hedge funds.

Bandwidth Trading Down 5.5%

BAND stock traded down $2.53 during trading on Tuesday, reaching $43.76. 324,746 shares of the stock were exchanged, compared to its average volume of 959,534. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.81. The business has a 50 day moving average price of $50.53 and a 200-day moving average price of $42.21. Bandwidth has a 1 year low of $12.50 and a 1 year high of $79.08. The firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of -364.64, a P/E/G ratio of 3.81 and a beta of 3.17.

Bandwidth (NASDAQ:BAND) last posted its quarterly earnings results on Thursday, October 29th. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.03. The business had revenue of $234.02 million during the quarter, compared to analysts’ expectations of $233.15 million. Bandwidth had a net margin of 1.01% and a return on equity of 3.70%. The business’s revenue for the quarter was up 21.9% on a year-over-year basis. On average, research analysts predict that Bandwidth will post 0.65 earnings per share for the current year.

Bandwidth Company Profile

Bandwidth is a cloud communications company that provides software and network services for businesses, communications providers and software developers. Its platform enables organizations to add voice calling, messaging and emergency calling capabilities to their applications and services. The company offers communications APIs, business voice and messaging solutions, and services for managing phone numbers and emergency communications. Bandwidth’s network infrastructure supports these offerings and helps customers connect communications features with their existing systems.