Bandwidth Inc. (NASDAQ:BAND) Receives $28.83 Average Target Price from Analysts

Bandwidth Inc. (NASDAQ:BAND) has earned an average rating of “Hold” from the seven brokerages that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $28.83.

Several research firms have issued reports on BAND. Morgan Stanley raised their target price on Bandwidth from $17.00 to $18.00 and gave the stock an “underweight” rating in a research note on Wednesday, December 18th. Needham & Company LLC reissued a “hold” rating on shares of Bandwidth in a research note on Friday, November 1st. Finally, Robert W. Baird lifted their price objective on Bandwidth from $19.00 to $22.00 and gave the company a “neutral” rating in a research note on Friday, November 1st.

Insider Buying and Selling

In related news, General Counsel Richard Brandon Asbill sold 5,561 shares of the business’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $21.26, for a total transaction of $118,226.86. Following the completion of the transaction, the general counsel now directly owns 41,825 shares of the company’s stock, valued at $889,199.50. The trade was a 11.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO David A. Morken sold 2,777 shares of Bandwidth stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $17.39, for a total value of $48,292.03. Following the sale, the chief executive officer now directly owns 109,783 shares of the company’s stock, valued at $1,909,126.37. This trade represents a 2.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 51,417 shares of company stock valued at $1,063,184 in the last three months. 6.20% of the stock is owned by corporate insiders.

Institutional Trading of Bandwidth

A number of institutional investors have recently bought and sold shares of BAND. Dimensional Fund Advisors LP lifted its holdings in Bandwidth by 6.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,043,013 shares of the company’s stock worth $17,606,000 after buying an additional 62,201 shares during the last quarter. Sei Investments Co. purchased a new stake in Bandwidth during the 2nd quarter worth about $590,000. Thrivent Financial for Lutherans lifted its holdings in shares of Bandwidth by 46.9% in the 2nd quarter. Thrivent Financial for Lutherans now owns 59,125 shares of the company’s stock valued at $998,000 after purchasing an additional 18,873 shares during the last quarter. Squarepoint Ops LLC purchased a new stake in shares of Bandwidth in the 2nd quarter valued at about $1,113,000. Finally, Point72 Asset Management L.P. lifted its holdings in shares of Bandwidth by 411.1% in the 2nd quarter. Point72 Asset Management L.P. now owns 597,933 shares of the company’s stock valued at $10,093,000 after purchasing an additional 480,933 shares during the last quarter. 68.53% of the stock is owned by hedge funds and other institutional investors.

Bandwidth Price Performance

BAND stock opened at $18.36 on Wednesday. The business has a fifty day moving average of $17.97 and a two-hundred day moving average of $17.98. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.83. The stock has a market cap of $505.08 million, a price-to-earnings ratio of -19.74 and a beta of 1.54. Bandwidth has a 52-week low of $11.90 and a 52-week high of $25.02.

Bandwidth Company Profile

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.