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

Shares of Bandwidth Inc. (NASDAQ:BAND) have been assigned an average recommendation of “Moderate Buy” from the six brokerages that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $20.80.

BAND has been the topic of a number of recent research reports. Barclays decreased their price target on shares of Bandwidth from $25.00 to $22.00 and set an “overweight” rating on the stock in a research note on Friday, February 21st. Robert W. Baird decreased their price target on shares of Bandwidth from $20.00 to $15.00 and set a “neutral” rating on the stock in a research note on Thursday, May 8th. Morgan Stanley decreased their price target on shares of Bandwidth from $18.00 to $11.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 16th. JMP Securities reaffirmed a “market outperform” rating and set a $36.00 price target on shares of Bandwidth in a research note on Thursday, May 15th. Finally, William Blair reaffirmed an “outperform” rating on shares of Bandwidth in a research note on Friday, February 21st.

Bandwidth Stock Performance

BAND opened at $15.08 on Tuesday. The firm has a market cap of $448.83 million, a P/E ratio of -26.46 and a beta of 1.82. Bandwidth has a 1-year low of $11.33 and a 1-year high of $23.90. The company has a 50 day simple moving average of $13.24 and a two-hundred day simple moving average of $15.82. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.34 and a quick ratio of 1.34.

Bandwidth (NASDAQ:BAND) last released its earnings results on Wednesday, May 7th. The company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.29 by $0.07. Bandwidth had a negative net margin of 0.87% and a positive return on equity of 0.53%. The firm had revenue of $174.24 million for the quarter, compared to the consensus estimate of $168.96 million. During the same quarter in the previous year, the firm earned $0.27 earnings per share. The company’s quarterly revenue was up 1.8% compared to the same quarter last year. Equities analysts forecast that Bandwidth will post 0.22 earnings per share for the current fiscal year.

Insider Buying and Selling at Bandwidth

In other Bandwidth news, General Counsel Richard Brandon Asbill sold 1,914 shares of the stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $14.47, for a total transaction of $27,695.58. Following the completion of the sale, the general counsel now directly owns 47,014 shares of the company’s stock, valued at approximately $680,292.58. This represents a 3.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Rebecca Bottorff sold 2,333 shares of the stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $14.47, for a total transaction of $33,758.51. Following the sale, the insider now directly owns 60,220 shares of the company’s stock, valued at approximately $871,383.40. The trade was a 3.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,676 shares of company stock valued at $355,922. 6.50% of the stock is currently owned by insiders.

Institutional Trading of Bandwidth

A number of institutional investors have recently bought and sold shares of the stock. Nuveen LLC acquired a new position in shares of Bandwidth in the first quarter valued at about $7,916,000. AQR Capital Management LLC increased its holdings in shares of Bandwidth by 303.1% in the first quarter. AQR Capital Management LLC now owns 393,907 shares of the company’s stock valued at $5,160,000 after purchasing an additional 296,199 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Bandwidth by 61.8% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 524,586 shares of the company’s stock valued at $8,928,000 after purchasing an additional 200,387 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in shares of Bandwidth by 88.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 285,559 shares of the company’s stock valued at $4,860,000 after purchasing an additional 133,715 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Bandwidth by 9.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,249,120 shares of the company’s stock valued at $21,260,000 after purchasing an additional 112,269 shares during the period. 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.