Analysts Set Bandwidth Inc (BAND) Price Target at $45.67

Bandwidth Inc (NASDAQ:BAND) has earned an average recommendation of “Buy” from the eight analysts that are currently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $45.67.

A number of research firms have recently issued reports on BAND. ValuEngine raised Bandwidth from a “hold” rating to a “buy” rating in a research report on Thursday, November 1st. Morgan Stanley increased their price target on Bandwidth from $40.00 to $44.00 and gave the stock a “hold” rating in a research report on Wednesday, October 31st. Zacks Investment Research downgraded Bandwidth from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 5th. Canaccord Genuity increased their price target on Bandwidth from $44.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, October 31st. Finally, KeyCorp reissued an “overweight” rating and set a $64.00 price target on shares of Bandwidth in a research report on Monday, September 3rd.

BAND opened at $48.32 on Wednesday. Bandwidth has a 12-month low of $18.05 and a 12-month high of $57.50. The firm has a market cap of $927.34 million and a PE ratio of 98.61.

Bandwidth (NASDAQ:BAND) last posted its quarterly earnings results on Tuesday, October 30th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.15. Bandwidth had a return on equity of 4.99% and a net margin of 9.58%. The business had revenue of $50.50 million for the quarter, compared to the consensus estimate of $47.94 million. During the same quarter in the prior year, the company earned $0.15 EPS. The business’s revenue was up 22.3% compared to the same quarter last year. On average, research analysts forecast that Bandwidth will post 0.09 earnings per share for the current fiscal year.

In related news, Director Henry R. Kaestner sold 19,199 shares of the firm’s stock in a transaction dated Thursday, August 23rd. The stock was sold at an average price of $45.04, for a total transaction of $864,722.96. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Jeffrey A. Hoffman sold 3,823 shares of the firm’s stock in a transaction dated Thursday, August 30th. The shares were sold at an average price of $45.28, for a total value of $173,105.44. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 64,471 shares of company stock worth $2,924,210. 48.62% of the stock is owned by corporate insiders.

A number of hedge funds have recently modified their holdings of BAND. Citadel Advisors LLC acquired a new stake in Bandwidth in the second quarter worth about $213,000. Northern Trust Corp acquired a new stake in Bandwidth in the first quarter worth about $263,000. Jane Street Group LLC acquired a new stake in Bandwidth in the second quarter worth about $381,000. Monarch Partners Asset Management LLC acquired a new stake in Bandwidth in the third quarter worth about $823,000. Finally, Personal Capital Advisors Corp acquired a new stake in Bandwidth in the second quarter worth about $681,000. 30.30% of the stock is currently owned by institutional investors.

About Bandwidth

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.

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Analyst Recommendations for Bandwidth (NASDAQ:BAND)

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