Bandwidth Inc. (NASDAQ:BAND) Receives Average Rating of “Hold” from Brokerages

Bandwidth Inc. (NASDAQ:BAND) has been assigned a consensus recommendation of “Hold” from the seven analysts that are presently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $20.60.

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

Insider Buying and Selling at Bandwidth

In other news, CFO Daryl E. Raiford sold 16,100 shares of the stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $15.19, for a total value of $244,559.00. Following the completion of the sale, the chief financial officer owned 36,645 shares in the company, valued at approximately $556,637.55. This trade represents a 30.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 6.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Bandwidth

A number of institutional investors and hedge funds have recently bought and sold shares of BAND. Portolan Capital Management LLC grew its position in Bandwidth by 115.8% in the third quarter. Portolan Capital Management LLC now owns 745,802 shares of the company’s stock valued at $12,433,000 after acquiring an additional 400,231 shares in the last quarter. CSM Advisors LLC purchased a new position in shares of Bandwidth in the fourth quarter valued at $5,342,000. AQR Capital Management LLC boosted its stake in shares of Bandwidth by 49.1% in the second quarter. AQR Capital Management LLC now owns 587,305 shares of the company’s stock valued at $9,338,000 after purchasing an additional 193,398 shares during the period. Assenagon Asset Management S.A. grew its holdings in Bandwidth by 71.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 327,942 shares of the company’s stock valued at $5,467,000 after purchasing an additional 136,624 shares in the last quarter. Finally, Bridgeway Capital Management LLC acquired a new stake in Bandwidth during the 2nd quarter valued at $2,166,000. Hedge funds and other institutional investors own 68.53% of the company’s stock.

Bandwidth Stock Performance

NASDAQ BAND opened at $18.05 on Monday. The firm has a market capitalization of $566.59 million, a price-to-earnings ratio of -41.98 and a beta of 2.03. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.42 and a current ratio of 1.42. Bandwidth has a one year low of $11.33 and a one year high of $18.63. The company’s 50 day moving average price is $15.03 and its 200 day moving average price is $15.13.

About Bandwidth

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.