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

Bandwidth Inc. (NASDAQ:BAND) has earned a consensus rating of “Moderate Buy” from the seven analysts that are covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $20.50.

Several research firms have commented on BAND. KeyCorp upped their price objective on shares of Bandwidth from $16.00 to $21.00 and gave the company an “overweight” rating in a report on Thursday, February 29th. Canaccord Genuity Group raised their price objective on shares of Bandwidth from $36.00 to $38.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. Finally, Barclays increased their target price on Bandwidth from $20.00 to $22.00 and gave the stock an “overweight” rating in a research note on Thursday, February 29th.

Bandwidth Stock Performance

Shares of BAND stock opened at $19.26 on Monday. The stock has a market cap of $505.96 million, a P/E ratio of -18.34 and a beta of 1.44. The company has a fifty day moving average price of $18.20 and a two-hundred day moving average price of $14.69. Bandwidth has a one year low of $9.34 and a one year high of $21.68. The company has a debt-to-equity ratio of 1.41, a current ratio of 2.06 and a quick ratio of 2.06.

Bandwidth (NASDAQ:BAND) last posted its quarterly earnings results on Wednesday, February 28th. The company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $165.00 million for the quarter, compared to the consensus estimate of $154.17 million. During the same quarter in the previous year, the business posted $0.04 EPS. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. As a group, equities analysts predict that Bandwidth will post 0.19 EPS for the current year.

Insider Transactions at Bandwidth

In related news, COO Anthony Bartolo sold 7,798 shares of the business’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $18.75, for a total value of $146,212.50. Following the completion of the transaction, the chief operating officer now owns 76,469 shares of the company’s stock, valued at $1,433,793.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last three months, insiders have sold 12,556 shares of company stock valued at $239,567. 6.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets boosted its holdings in shares of Bandwidth by 84.4% in the 1st quarter. BNP Paribas Financial Markets now owns 13,690 shares of the company’s stock valued at $250,000 after purchasing an additional 6,266 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Bandwidth by 100.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,132 shares of the company’s stock valued at $386,000 after buying an additional 10,571 shares in the last quarter. Los Angeles Capital Management LLC bought a new position in Bandwidth in the first quarter valued at about $364,000. Palogic Value Management L.P. raised its stake in Bandwidth by 17.0% during the fourth quarter. Palogic Value Management L.P. now owns 300,000 shares of the company’s stock worth $4,341,000 after acquiring an additional 43,675 shares in the last quarter. Finally, G2 Investment Partners Management LLC acquired a new position in Bandwidth during the fourth quarter worth about $4,079,000. 68.53% of the stock is currently owned by institutional investors and hedge funds.

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.