Bandwidth (NASDAQ:BAND) has been assigned a consensus rating of “Buy” from the seven analysts that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $38.00.
Several equities analysts have recently commented on the company. Dougherty & Co assumed coverage on Bandwidth in a research report on Tuesday, April 10th. They issued a “buy” rating on the stock. Robert W. Baird reaffirmed an “outperform” rating and issued a $30.00 target price (up previously from $28.00) on shares of Bandwidth in a research report on Thursday, February 22nd. KeyCorp upped their target price on Bandwidth from $31.00 to $42.00 and gave the company an “overweight” rating in a research report on Thursday, May 3rd. Canaccord Genuity upped their target price on Bandwidth from $30.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, May 3rd. Finally, ValuEngine downgraded Bandwidth from a “hold” rating to a “sell” rating in a research report on Thursday, March 1st.
NASDAQ:BAND traded down $0.26 on Wednesday, hitting $35.32. The company’s stock had a trading volume of 89,338 shares, compared to its average volume of 104,437. Bandwidth has a one year low of $18.05 and a one year high of $37.42. The firm has a market capitalization of $618.08 million and a price-to-earnings ratio of 72.08.
Bandwidth (NASDAQ:BAND) last posted its earnings results on Wednesday, May 2nd. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.09 by $0.02. The firm had revenue of $53.00 million during the quarter, compared to analyst estimates of $47.19 million. During the same period in the previous year, the company posted $0.22 EPS. Bandwidth’s revenue for the quarter was up 33.8% compared to the same quarter last year. equities research analysts forecast that Bandwidth will post -0.14 earnings per share for the current fiscal year.
Institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp acquired a new stake in Bandwidth during the fourth quarter worth approximately $5,921,000. BlackRock Inc. acquired a new stake in Bandwidth during the fourth quarter worth approximately $7,514,000. Penn Capital Management Co. Inc. acquired a new stake in Bandwidth during the fourth quarter worth approximately $1,830,000. Royce & Associates LP acquired a new stake in Bandwidth during the fourth quarter worth approximately $1,050,000. Finally, Virtu Financial LLC acquired a new stake in Bandwidth during the fourth quarter worth approximately $277,000. 20.05% of the stock is currently 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.
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