Bandwidth’s (BAND) “Hold” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC restated their hold rating on shares of Bandwidth (NASDAQ:BAND) in a research report released on Friday,Benzinga reports.

A number of other research firms have also recently weighed in on BAND. Barclays lowered their price objective on Bandwidth from $25.00 to $22.00 and set an “overweight” rating on the stock in a research report on Friday. Robert W. Baird boosted their price objective on Bandwidth from $19.00 to $22.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Finally, Morgan Stanley upped their price objective on Bandwidth from $17.00 to $18.00 and gave the stock an “underweight” rating in a research note on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $28.33.

Bandwidth Stock Down 2.6 %

Shares of BAND stock opened at $17.00 on Friday. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.83. Bandwidth has a 12 month low of $11.90 and a 12 month high of $25.02. The stock has a market cap of $467.67 million, a P/E ratio of -18.28 and a beta of 1.54. The company has a 50 day simple moving average of $17.44 and a two-hundred day simple moving average of $17.84.

Bandwidth (NASDAQ:BAND) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.36). The company had revenue of $209.97 million during the quarter, compared to analysts’ expectations of $203.68 million. Bandwidth had a negative return on equity of 0.89% and a negative net margin of 2.23%. During the same quarter last year, the company earned $0.38 earnings per share. On average, research analysts expect that Bandwidth will post 0.08 earnings per share for the current year.

Insider Transactions at Bandwidth

In other news, CFO Daryl Raiford sold 4,371 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $20.70, for a total transaction of $90,479.70. Following the sale, the chief financial officer now directly owns 93,451 shares of the company’s stock, valued at $1,934,435.70. This represents a 4.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Devin M. Krupka sold 3,658 shares of the firm’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $21.26, for a total transaction of $77,769.08. Following the completion of the transaction, the insider now directly owns 11,097 shares of the company’s stock, valued at approximately $235,922.22. This trade represents a 24.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 51,417 shares of company stock valued at $1,063,184. 6.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Bandwidth

Several institutional investors have recently bought and sold shares of BAND. Vanguard Group Inc. increased its holdings in shares of Bandwidth by 4.3% in the 4th quarter. Vanguard Group Inc. now owns 1,769,027 shares of the company’s stock worth $30,109,000 after buying an additional 73,623 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Bandwidth by 9.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,249,120 shares of the company’s stock worth $21,260,000 after acquiring an additional 112,269 shares in the last quarter. State Street Corp increased its stake in Bandwidth by 3.7% during the third quarter. State Street Corp now owns 655,768 shares of the company’s stock worth $11,482,000 after acquiring an additional 23,352 shares during the last quarter. Renaissance Technologies LLC raised its position in Bandwidth by 15.3% during the fourth quarter. Renaissance Technologies LLC now owns 651,300 shares of the company’s stock valued at $11,085,000 after purchasing an additional 86,200 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of Bandwidth by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 570,910 shares of the company’s stock valued at $9,720,000 after purchasing an additional 2,243 shares during the last quarter. Institutional investors own 68.53% of the company’s stock.

About Bandwidth

Bandwidth is a leading enterprise cloud communications company. Companies like Cisco, Google, Microsoft, RingCentral, Uber, and Zoom use Bandwidth’s APIs to easily embed voice, messaging, and emergency services into software and applications. Bandwidth is the first and only CPaaS provider offering a robust selection of communications APIs built around their own IP voice network.