Shares of Bandwidth Inc (NASDAQ:BAND) have been assigned a consensus recommendation of “Buy” from the seven ratings firms that are presently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $80.00.
A number of research analysts recently issued reports on BAND shares. Zacks Investment Research downgraded shares of Bandwidth from a “buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. ValuEngine upgraded shares of Bandwidth from a “sell” rating to a “hold” rating in a research report on Tuesday. Morgan Stanley lowered shares of Bandwidth from an “underweight” rating to an “equal” rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. assumed coverage on shares of Bandwidth in a research note on Wednesday, July 3rd. They set an “overweight” rating and a $90.00 price target for the company.
In other Bandwidth news, CFO Jeffrey A. Hoffman sold 10,000 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $85.04, for a total transaction of $850,400.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Henry R. Kaestner sold 16,685 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $85.45, for a total transaction of $1,425,733.25. The disclosure for this sale can be found here. Insiders own 15.27% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. US Bancorp DE grew its stake in shares of Bandwidth by 66.8% in the 2nd quarter. US Bancorp DE now owns 502 shares of the company’s stock worth $37,000 after acquiring an additional 201 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. grew its stake in shares of Bandwidth by 118.3% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 738 shares of the company’s stock worth $55,000 after acquiring an additional 400 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Bandwidth in the 2nd quarter worth $66,000. Bank of Montreal Can bought a new stake in shares of Bandwidth in the 2nd quarter worth $103,000. Finally, SG Americas Securities LLC bought a new stake in shares of Bandwidth in the 2nd quarter worth $300,000. Hedge funds and other institutional investors own 65.47% of the company’s stock.
Bandwidth stock opened at $55.80 on Wednesday. Bandwidth has a 12-month low of $27.75 and a 12-month high of $90.63. The firm’s fifty day moving average is $68.94 and its 200 day moving average is $74.31. The company has a market capitalization of $1.34 billion, a PE ratio of 180.00 and a beta of 0.60.
Bandwidth (NASDAQ:BAND) last released its earnings results on Wednesday, July 31st. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.23) by $0.19. Bandwidth had a net margin of 3.14% and a negative return on equity of 4.97%. The company had revenue of $56.80 million for the quarter, compared to the consensus estimate of $55.06 million. During the same quarter in the previous year, the company earned $0.20 EPS. Bandwidth’s quarterly revenue was up 17.6% compared to the same quarter last year. On average, analysts anticipate that Bandwidth will post -0.68 earnings per share for the current fiscal year.
Bandwidth Inc operates as a cloud-based software-powered communications platform-as-a-service (CPaaS) provider in the United States. The company operates through two segments, CPaaS and Other. Its platform enables enterprises to create, scale, and operate voice or text communications services across mobile application or connected device.
Further Reading: Average Daily Trade Volume – ADTV
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