Bandwidth Inc. (NASDAQ:BAND) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Bandwidth Inc. (NASDAQ:BANDGet Rating) have been assigned an average rating of “Moderate Buy” from the eleven analysts that are currently covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $32.40.

A number of research analysts have commented on BAND shares. Piper Sandler cut their target price on shares of Bandwidth from $28.00 to $18.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 2nd. Citigroup lifted their price objective on shares of Bandwidth from $14.00 to $17.00 in a research report on Wednesday, November 2nd. Barclays cut their price objective on shares of Bandwidth from $45.00 to $30.00 and set an “overweight” rating on the stock in a research report on Monday, July 25th. Morgan Stanley lifted their price objective on shares of Bandwidth from $13.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 2nd. Finally, KeyCorp began coverage on shares of Bandwidth in a research report on Monday, September 12th. They set an “overweight” rating and a $21.00 target price on the stock.

Bandwidth Trading Down 3.6 %

NASDAQ BAND opened at $19.73 on Monday. The company has a debt-to-equity ratio of 3.27, a quick ratio of 3.56 and a current ratio of 3.56. The company has a market capitalization of $499.64 million, a price-to-earnings ratio of -22.42 and a beta of 0.90. The company’s 50-day simple moving average is $14.12 and its two-hundred day simple moving average is $16.95. Bandwidth has a one year low of $9.20 and a one year high of $75.40.

Insider Buying and Selling at Bandwidth

In related news, Director Lukas M. Roush sold 3,182 shares of the business’s stock in a transaction on Tuesday, September 13th. The shares were sold at an average price of $15.87, for a total value of $50,498.34. Following the completion of the transaction, the director now directly owns 11,345 shares in the company, valued at approximately $180,045.15. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last ninety days, insiders sold 4,095 shares of company stock worth $61,525. Company insiders own 5.79% of the company’s stock.

Hedge Funds Weigh In On Bandwidth

Several large investors have recently made changes to their positions in BAND. IndexIQ Advisors LLC acquired a new position in shares of Bandwidth in the 1st quarter valued at $389,000. Parcion Private Wealth LLC increased its holdings in Bandwidth by 0.7% in the 1st quarter. Parcion Private Wealth LLC now owns 255,835 shares of the company’s stock worth $8,286,000 after acquiring an additional 1,690 shares in the last quarter. Monarch Partners Asset Management LLC purchased a new stake in Bandwidth in the 1st quarter worth $3,954,000. Qube Research & Technologies Ltd purchased a new stake in Bandwidth in the 1st quarter worth $1,054,000. Finally, Swiss National Bank increased its holdings in Bandwidth by 7.6% in the 1st quarter. Swiss National Bank now owns 52,100 shares of the company’s stock worth $1,688,000 after acquiring an additional 3,700 shares in the last quarter. 81.46% of the stock is currently owned by institutional investors and hedge funds.

Bandwidth Company Profile

(Get Rating)

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.

Featured Stories

Analyst Recommendations for Bandwidth (NASDAQ:BAND)

Receive News & Ratings for Bandwidth Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bandwidth and related companies with MarketBeat.com's FREE daily email newsletter.