Bandwidth Inc. (NASDAQ:BAND) Receives $20.60 Consensus Price Target from Analysts

Bandwidth Inc. (NASDAQ:BAND) has earned an average rating of “Hold” from the seven ratings firms that are covering the company, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and four have given a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $20.60.

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

Bandwidth Stock Up 2.5%

BAND opened at $16.55 on Thursday. Bandwidth has a one year low of $11.33 and a one year high of $18.63. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.42 and a current ratio of 1.42. The stock has a market capitalization of $519.50 million, a P/E ratio of -38.49 and a beta of 2.14. The business’s 50-day simple moving average is $14.17 and its 200-day simple moving average is $15.00.

Institutional Investors Weigh In On Bandwidth

A number of institutional investors and hedge funds have recently made changes to their positions in BAND. Assenagon Asset Management S.A. grew its holdings in shares of Bandwidth by 71.4% during the third quarter. Assenagon Asset Management S.A. now owns 327,942 shares of the company’s stock worth $5,467,000 after buying an additional 136,624 shares during the last quarter. Campbell & CO Investment Adviser LLC raised its stake in Bandwidth by 33.5% during the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 83,388 shares of the company’s stock valued at $1,326,000 after acquiring an additional 20,945 shares during the last quarter. Archon Capital Management LLC raised its stake in Bandwidth by 48.3% during the 2nd quarter. Archon Capital Management LLC now owns 291,700 shares of the company’s stock valued at $4,638,000 after acquiring an additional 95,000 shares during the last quarter. Magnetar Financial LLC acquired a new stake in Bandwidth during the 2nd quarter worth approximately $471,000. Finally, Bailard Inc. purchased a new position in shares of Bandwidth in the 2nd quarter valued at approximately $275,000. 68.53% of the stock is owned by hedge funds and other institutional investors.

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.