Analysts Set Bandwidth Inc. (NASDAQ:BAND) Price Target at $21.00

Bandwidth Inc. (NASDAQ:BAND) has been given an average rating of “Hold” by the eight research firms that are currently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, one has given a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $21.00.

A number of research firms recently weighed in on BAND. Robert W. Baird set a $16.00 price objective on shares of Bandwidth in a research note on Friday, October 31st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Bandwidth in a research report on Wednesday, October 8th. Finally, Wall Street Zen lowered shares of Bandwidth from a “buy” rating to a “hold” rating in a report on Sunday, December 14th.

Insider Transactions at Bandwidth

In other Bandwidth news, CFO Daryl E. Raiford sold 21,515 shares of the business’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $14.06, for a total value of $302,500.90. Following the completion of the transaction, the chief financial officer directly owned 98,535 shares in the company, valued at approximately $1,385,402.10. The trade was a 17.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO David A. Morken sold 12,584 shares of the firm’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $14.06, for a total transaction of $176,931.04. Following the completion of the sale, the chief executive officer owned 29,494 shares in the company, valued at $414,685.64. This represents a 29.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 63,463 shares of company stock worth $895,210. Company insiders own 6.50% of the company’s stock.

Institutional Investors Weigh In On Bandwidth

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. CX Institutional acquired a new position in Bandwidth during the 2nd quarter valued at about $241,000. Assenagon Asset Management S.A. increased its holdings in shares of Bandwidth by 71.4% during the third quarter. Assenagon Asset Management S.A. now owns 327,942 shares of the company’s stock valued at $5,467,000 after acquiring an additional 136,624 shares in the last quarter. Rhumbline Advisers raised its position in shares of Bandwidth by 3.7% in the 1st quarter. Rhumbline Advisers now owns 35,603 shares of the company’s stock valued at $466,000 after purchasing an additional 1,255 shares during the last quarter. Campbell & CO Investment Adviser LLC raised its position in shares of Bandwidth by 33.5% in the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 83,388 shares of the company’s stock valued at $1,326,000 after purchasing an additional 20,945 shares during the last quarter. Finally, Archon Capital Management LLC boosted its stake in Bandwidth by 48.3% in the 2nd quarter. Archon Capital Management LLC now owns 291,700 shares of the company’s stock worth $4,638,000 after purchasing an additional 95,000 shares in the last quarter. Hedge funds and other institutional investors own 68.53% of the company’s stock.

Bandwidth Trading Down 0.9%

BAND opened at $13.41 on Wednesday. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.63. The stock’s fifty day moving average is $14.56 and its two-hundred day moving average is $15.18. The company has a market capitalization of $409.27 million, a P/E ratio of -34.38 and a beta of 2.10. Bandwidth has a 52 week low of $11.33 and a 52 week high of $19.88.

Bandwidth Company Profile

Bandwidth Inc operates a cloud-based communications platform that provides voice, messaging and emergency services APIs for enterprises and developers. Through its proprietary network and software-as-a-service model, the company enables customers to integrate programmable voice calls, text messaging and 9-1-1 routing into their applications. Bandwidth’s solutions aim to reduce complexity and improve reliability in mission-critical communications, serving industries such as healthcare, financial services, on-demand mobility and customer engagement.

Founded in 1999 in Raleigh, North Carolina by co-founders David Morken and Henry Kaestner, Bandwidth initially focused on voice-over-IP infrastructure before evolving into a full communications API provider.