Bandwidth Inc. (NASDAQ:BAND) Given Average Recommendation of “Hold” by Analysts

Shares of Bandwidth Inc. (NASDAQ:BAND) have been assigned a consensus rating of “Hold” from the seven research firms that are presently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $20.60.

A number of research firms have recently weighed in on BAND. B. Riley Financial initiated coverage on Bandwidth in a report on Friday, January 23rd. They set a “buy” rating and a $20.00 target price for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Bandwidth in a research note on Wednesday, January 21st. Finally, Wall Street Zen lowered shares of Bandwidth from a “buy” rating to a “hold” rating in a research report on Sunday, December 14th.

Bandwidth Stock Performance

BAND opened at $15.69 on Thursday. The business has a fifty day simple moving average of $14.21 and a 200 day simple moving average of $15.03. The company has a market capitalization of $492.51 million, a PE ratio of -36.49 and a beta of 2.14. Bandwidth has a 1 year low of $11.33 and a 1 year high of $18.63. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.42 and a quick ratio of 1.42.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Bank of Montreal Can raised its position in shares of Bandwidth by 1.7% in the second quarter. Bank of Montreal Can now owns 156,087 shares of the company’s stock valued at $2,482,000 after buying an additional 2,554 shares in the last quarter. Savant Capital LLC acquired a new stake in Bandwidth during the second quarter worth approximately $201,000. Los Angeles Capital Management LLC grew its position in Bandwidth by 97.5% during the second quarter. Los Angeles Capital Management LLC now owns 40,982 shares of the company’s stock worth $652,000 after buying an additional 20,235 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Bandwidth by 41.4% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 8,563 shares of the company’s stock worth $136,000 after acquiring an additional 2,507 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in Bandwidth by 11.3% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 680,945 shares of the company’s stock worth $10,827,000 after acquiring an additional 69,065 shares during the period. Institutional investors and hedge funds own 68.53% of the company’s stock.

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.