Analysts Set Bandwidth Inc. (NASDAQ:BAND) Target Price at $20.60

Bandwidth Inc. (NASDAQ:BAND) has been given an average rating of “Hold” by the seven analysts that are presently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, one has given a hold recommendation and four have given a buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $20.60.

BAND has been the topic of several recent analyst reports. Wall Street Zen downgraded Bandwidth from a “buy” rating to a “hold” rating in a research report on Sunday, December 14th. B. Riley Financial began coverage on Bandwidth in a report on Friday, January 23rd. They issued a “buy” rating and a $20.00 price target for the company. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Bandwidth in a research note on Wednesday, January 21st.

Hedge Funds Weigh In On Bandwidth

Several institutional investors and hedge funds have recently bought and sold shares of BAND. Tower Research Capital LLC TRC raised its stake in Bandwidth by 183.7% during the second quarter. Tower Research Capital LLC TRC now owns 3,776 shares of the company’s stock worth $60,000 after purchasing an additional 2,445 shares during the period. State of Wyoming purchased a new stake in shares of Bandwidth during the 3rd quarter valued at $71,000. Raymond James Financial Inc. purchased a new stake in shares of Bandwidth during the 2nd quarter valued at $85,000. Harbor Capital Advisors Inc. increased its holdings in shares of Bandwidth by 30.3% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 7,509 shares of the company’s stock worth $125,000 after buying an additional 1,748 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new stake in shares of Bandwidth during the 2nd quarter worth $128,000. Institutional investors and hedge funds own 68.53% of the company’s stock.

Bandwidth Trading Down 0.4%

Shares of Bandwidth stock opened at $16.49 on Thursday. Bandwidth has a fifty-two week low of $11.33 and a fifty-two week high of $18.63. The business’s fifty day moving average is $14.19 and its two-hundred day moving average is $15.02. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.62. The firm has a market cap of $517.62 million, a PE ratio of -38.35 and a beta of 2.14.

Bandwidth Company Profile

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.