Bandwidth (BAND) Receives Consensus Recommendation of “Buy” from Brokerages

Bandwidth (NASDAQ:BAND) has been assigned a consensus recommendation of “Buy” from the seven analysts that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $32.50.

Several brokerages have recently issued reports on BAND. ValuEngine upgraded shares of Bandwidth from a “sell” rating to a “hold” rating in a research note on Monday, April 2nd. Dougherty & Co set a $40.00 price target on shares of Bandwidth and gave the stock a “buy” rating in a research note on Tuesday. KeyCorp restated an “overweight” rating and set a $31.00 price target (up previously from $29.00) on shares of Bandwidth in a research note on Thursday, February 22nd. Robert W. Baird restated an “outperform” rating and set a $30.00 price target (up previously from $28.00) on shares of Bandwidth in a research note on Thursday, February 22nd. Finally, Canaccord Genuity restated a “buy” rating and set a $30.00 price target (up previously from $28.00) on shares of Bandwidth in a research note on Thursday, February 22nd.

Shares of BAND stock traded up $0.10 during trading hours on Friday, hitting $32.00. 62,930 shares of the company were exchanged, compared to its average volume of 93,192. Bandwidth has a 52-week low of $18.05 and a 52-week high of $33.23. The firm has a market cap of $562.48 and a P/E ratio of 64.92.

Bandwidth (NASDAQ:BAND) last issued its quarterly earnings results on Wednesday, February 21st. The company reported $0.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.11. The company had revenue of $42.47 million for the quarter, compared to analysts’ expectations of $41.69 million. During the same quarter in the previous year, the business earned $0.03 EPS. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. equities research analysts anticipate that Bandwidth will post -0.14 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Virtu Financial LLC bought a new position in Bandwidth in the 4th quarter worth approximately $277,000. Spark Investment Management LLC bought a new position in Bandwidth in the 4th quarter worth approximately $436,000. Royce & Associates LP bought a new position in Bandwidth in the 4th quarter worth approximately $1,050,000. Two Sigma Investments LP bought a new position in Bandwidth in the 4th quarter worth approximately $1,277,000. Finally, Millennium Management LLC bought a new position in Bandwidth in the 4th quarter worth approximately $1,366,000. 20.17% of the stock is owned by institutional investors.

Bandwidth Company Profile

Bandwidth Inc operates as a cloud-based software-powered communications platform-as-a-service (CPaaS) provides 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.

Analyst Recommendations for Bandwidth (NASDAQ:BAND)

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