Bandwidth Inc. (NASDAQ:BAND) Stock Has Consensus Target Price of $66.67

by · The Markets Daily

Bandwidth Inc. (NASDAQ:BAND – Get Free Report) has earned an average rating of “Hold” from the nine research firms that are currently covering the firm, Marketbeat.com reports. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $66.67.

A number of analysts recently weighed in on BAND shares. Piper Sandler increased their price target on shares of Bandwidth from $38.00 to $52.00 and gave the company a “neutral” rating in a research report on Wednesday, August 19th. Needham & Company LLC reaffirmed a “buy” rating on shares of Bandwidth in a research note on Wednesday. Bank of America started coverage on shares of Bandwidth in a report on Wednesday, September 16th. They issued a “neutral” rating and a $60.00 target price on the stock. Citizens Jmp increased their target price on shares of Bandwidth from $70.00 to $86.00 and gave the stock a “market outperform” rating in a report on Monday, July 20th. Finally, Citigroup reissued a “market outperform” rating on shares of Bandwidth in a research report on Friday, October 30th.

Check Out Our Latest Report on BAND

Insiders Place Their Bets

In other Bandwidth news, insider Rebecca Bottorff sold 2,713 shares of Bandwidth stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $49.15, for a total transaction of $133,343.95. Following the transaction, the insider directly owned 10,704 shares in the company, valued at approximately $526,101.60. The trade was a 20.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO David Morken sold 5,128 shares of Bandwidth stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $49.15, for a total value of $252,041.20. Following the transaction, the chief executive officer owned 6,702 shares in the company, valued at approximately $329,403.30. This represents a 43.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 25,050 shares of company stock worth $1,228,342 over the last 90 days. 5.26% of the stock is currently owned by corporate insiders.

Institutional Trading of Bandwidth

A number of large investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP lifted its stake in Bandwidth by 6.3% in the first quarter. Dimensional Fund Advisors LP now owns 1,551,508 shares of the company’s stock valued at $27,647,000 after buying an additional 91,812 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Bandwidth by 138.9% during the second quarter. Wellington Management Group LLP now owns 911,893 shares of the company’s stock worth $57,723,000 after acquiring an additional 530,182 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Bandwidth by 299.5% during the first quarter. Arrowstreet Capital Limited Partnership now owns 688,430 shares of the company’s stock worth $12,268,000 after acquiring an additional 516,117 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Bandwidth by 4.2% during the first quarter. Renaissance Technologies LLC now owns 644,981 shares of the company’s stock worth $11,494,000 after acquiring an additional 26,081 shares in the last quarter. Finally, Bastion Asset Management Inc. acquired a new stake in shares of Bandwidth during the first quarter worth $6,592,000. 68.53% of the stock is owned by institutional investors.

Bandwidth Price Performance

Shares of BAND stock opened at $46.29 on Tuesday. The firm’s 50 day moving average price is $50.60 and its two-hundred day moving average price is $42.07. The stock has a market cap of $1.50 billion, a PE ratio of 150.22, a PEG ratio of 3.96 and a beta of 3.17. Bandwidth has a 52-week low of $12.50 and a 52-week high of $79.08. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.92 and a current ratio of 1.92.

Bandwidth (NASDAQ:BAND – Get Free Report) last posted its quarterly earnings results on Thursday, October 29th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.03. Bandwidth had a return on equity of 3.70% and a net margin of 1.01%. The business had revenue of $234.02 million for the quarter, compared to analyst estimates of $233.15 million. Bandwidth’s quarterly revenue was up 21.9% compared to the same quarter last year. As a group, analysts forecast that Bandwidth will post 0.65 EPS for the current year.

Bandwidth Company Profile

(Get Free Report)

Bandwidth is a cloud communications company that provides software and network services for businesses, communications providers and software developers. Its platform enables organizations to add voice calling, messaging and emergency calling capabilities to their applications and services. The company offers communications APIs, business voice and messaging solutions, and services for managing phone numbers and emergency communications. Bandwidth’s network infrastructure supports these offerings and helps customers connect communications features with their existing systems.

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