Zacks: Bandwidth Inc (BAND) Receives Average Recommendation of “Strong Buy” from Brokerages

Bandwidth Inc (NASDAQ:BAND) has received a consensus broker rating score of 1.20 (Strong Buy) from the five brokers that provide coverage for the stock, Zacks Investment Research reports. One research analyst has rated the stock with a buy rating and four have assigned a strong buy rating to the company.

Brokers have set a 1 year consensus target price of $29.80 for the company, according to Zacks. Zacks has also given Bandwidth an industry rank of 113 out of 265 based on the ratings given to its competitors.

A number of equities analysts have recently issued reports on the company. Morgan Stanley assumed coverage on Bandwidth in a report on Tuesday. They issued an “overweight” rating and a $28.00 target price for the company. Robert W. Baird assumed coverage on Bandwidth in a report on Tuesday. They issued an “outperform” rating and a $28.00 target price for the company. Canaccord Genuity assumed coverage on Bandwidth in a report on Tuesday. They issued a “buy” rating and a $28.00 target price for the company. KeyCorp assumed coverage on Bandwidth in a report on Tuesday. They issued an “overweight” rating and a $29.00 target price for the company. Finally, JMP Securities assumed coverage on Bandwidth in a report on Tuesday. They issued an “outperform” rating and a $36.00 target price for the company.

Shares of Bandwidth (BAND) traded up $0.33 on Wednesday, hitting $22.70. The stock had a trading volume of 294,600 shares, compared to its average volume of 163,900. Bandwidth has a fifty-two week low of $18.05 and a fifty-two week high of $24.15.

In other news, major shareholder James A. Bowen sold 158,526 shares of the stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $18.60, for a total value of $2,948,583.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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Bandwidth Company Profile

Bandwidth Inc, formerly Bandwidth.com, Inc, is a cloud-based communications platform-as-a-service provider (CPaaS) that enables enterprises to create, scale and operate voice or text communications services across any mobile application or connected device or enterprises. The Company has two operating and reportable segments, CPaaS and Other.

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