Shares of Bandwidth Inc (NASDAQ:BAND) have earned a consensus broker rating score of 1.20 (Strong Buy) from the five brokers that provide coverage for the stock, Zacks Investment Research reports. One research analyst has rated the stock with a buy rating and four have issued a strong buy rating on the company.

Analysts have set a 12-month consensus target price of $29.80 for the company, according to Zacks. Zacks has also assigned Bandwidth an industry rank of 176 out of 265 based on the ratings given to its competitors.

Several research firms have commented on BAND. KeyCorp restated a “buy” rating and issued a $29.00 price objective on shares of Bandwidth in a research report on Thursday, December 14th. JMP Securities began coverage on Bandwidth in a research report on Tuesday, December 5th. They issued an “outperform” rating and a $36.00 price objective on the stock. Canaccord Genuity began coverage on Bandwidth in a research report on Tuesday, December 5th. They issued a “buy” rating and a $28.00 price objective on the stock. Morgan Stanley set a $28.00 price objective on Bandwidth and gave the stock a “buy” rating in a research report on Saturday, December 16th. Finally, Robert W. Baird began coverage on Bandwidth in a research report on Tuesday, December 5th. They issued an “outperform” rating and a $28.00 price objective on the stock.

In other news, major shareholder James A. Bowen sold 158,526 shares of the stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $18.60, for a total transaction of $2,948,583.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Large investors have recently made changes to their positions in the company. Virtu Financial LLC purchased a new position in shares of Bandwidth during the 4th quarter valued at approximately $277,000. Royce & Associates LP purchased a new position in shares of Bandwidth during the 4th quarter valued at approximately $1,050,000. Penn Capital Management Co. Inc. purchased a new position in shares of Bandwidth during the 4th quarter valued at approximately $1,830,000. Bank of New York Mellon Corp purchased a new position in shares of Bandwidth during the 4th quarter valued at approximately $5,921,000. Finally, BlackRock Inc. purchased a new position in shares of Bandwidth during the 4th quarter valued at approximately $7,514,000. Hedge funds and other institutional investors own 0.47% of the company’s stock.

Shares of Bandwidth (NASDAQ:BAND) remained flat at $$21.03 during trading hours on Friday. The company had a trading volume of 22,317 shares, compared to its average volume of 52,984. Bandwidth has a fifty-two week low of $18.05 and a fifty-two week high of $24.99. The company has a debt-to-equity ratio of -2.45, a current ratio of 1.17 and a quick ratio of 1.17.

Bandwidth (NASDAQ:BAND) last issued its quarterly earnings results on Wednesday, December 13th. The company reported $0.12 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.06. analysts expect that Bandwidth will post 0.46 earnings per share for the current year.

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Bandwidth Company Profile

Bandwidth Inc, formerly Bandwidth.com, Inc, is a cloud-based communications platform-as-a-service provider (CPaaS) that enables enterprises to create, scale and operate voice or text communications services across any mobile application or connected device or enterprises. The Company has two operating and reportable segments, CPaaS and Other.

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Analyst Recommendations for Bandwidth (NASDAQ:BAND)

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