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

Shares of Bandwidth Inc. (NASDAQ:BAND) have been given an average rating of “Moderate Buy” by the seven analysts that are currently covering the company, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $20.50.

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

Insider Transactions at Bandwidth

In related news, COO Anthony Bartolo sold 7,798 shares of the business’s stock in a transaction 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 completion of the transaction, the chief operating officer now directly owns 76,469 shares in the company, valued at $1,433,793.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 12,556 shares of company stock worth $239,567 over the last 90 days. 6.20% of the stock is currently owned by company insiders.

Institutional Trading of Bandwidth

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

Bandwidth Price Performance

Shares of BAND stock opened at $19.26 on Monday. The stock has a 50 day moving average price of $18.20 and a 200 day moving average price of $14.63. Bandwidth has a 52-week low of $9.34 and a 52-week high of $21.68. The company has a debt-to-equity ratio of 1.41, a quick ratio of 2.06 and a current ratio of 2.06. The firm has a market capitalization of $505.96 million, a P/E ratio of -18.34 and a beta of 1.44.

Bandwidth (NASDAQ:BAND) last released its earnings results 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). The business had revenue of $165.00 million for the quarter, compared to the consensus estimate of $154.17 million. Bandwidth had a negative return on equity of 3.10% and a negative net margin of 2.72%. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.04 earnings per share. As a group, sell-side analysts predict 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.