By otakuyassine3@gmail.com 
Bandwidth Inc. (NASDAQ:BAND – Free Report) – Equities researchers at Zacks Research increased their FY2024 earnings per share (EPS) estimates for shares of Bandwidth in a research note issued to investors on Thursday, February 13th. Zacks Research analyst R. Department now anticipates that the company will earn $0.05 per share for the year, up from their prior forecast of $0.04. The consensus estimate for Bandwidth’s current full-year earnings is $0.08 per share. Zacks Research also issued estimates for Bandwidth’s Q4 2024 earnings at $0.03 EPS, Q1 2025 earnings at $0.00 EPS and FY2025 earnings at $0.12 EPS.
A number of other research firms also recently weighed in on BAND. Robert W. Baird increased their price target on Bandwidth from $19.00 to $22.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Morgan Stanley raised 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. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Bandwidth in a research note on Friday, November 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Bandwidth has an average rating of “Hold” and a consensus target price of $28.83.
Check Out Our Latest Analysis on Bandwidth
Bandwidth Stock Performance
BAND stock opened at $18.71 on Monday. The business’s fifty day moving average is $17.61 and its 200-day moving average is $17.78. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.83. The company has a market cap of $514.71 million, a P/E ratio of -20.12 and a beta of 1.54. Bandwidth has a twelve month low of $11.90 and a twelve month high of $25.02.
Institutional Investors Weigh In On Bandwidth
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Dynamic Technology Lab Private Ltd lifted its stake in Bandwidth by 1.6% during the fourth quarter. Dynamic Technology Lab Private Ltd now owns 43,366 shares of the company’s stock worth $738,000 after purchasing an additional 699 shares during the last quarter. Los Angeles Capital Management LLC lifted its stake in Bandwidth by 3.6% during the third quarter. Los Angeles Capital Management LLC now owns 21,221 shares of the company’s stock worth $372,000 after purchasing an additional 740 shares during the last quarter. nVerses Capital LLC lifted its stake in Bandwidth by 80.0% during the third quarter. nVerses Capital LLC now owns 1,800 shares of the company’s stock worth $32,000 after purchasing an additional 800 shares during the last quarter. Quarry LP lifted its stake in Bandwidth by 157.6% during the third quarter. Quarry LP now owns 2,035 shares of the company’s stock worth $36,000 after purchasing an additional 1,245 shares during the last quarter. Finally, SG Americas Securities LLC lifted its stake in Bandwidth by 14.5% during the fourth quarter. SG Americas Securities LLC now owns 11,102 shares of the company’s stock worth $189,000 after purchasing an additional 1,407 shares during the last quarter. 68.53% of the stock is currently owned by institutional investors.
Insider Activity
In other Bandwidth news, insider Devin M. Krupka sold 3,658 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now directly owns 11,097 shares in the company, valued at $235,922.22. This trade represents a 24.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO David A. Morken sold 15,410 shares of Bandwidth stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $21.26, for a total transaction of $327,616.60. Following the completion of the sale, the chief executive officer now owns 101,821 shares of the company’s stock, valued at approximately $2,164,714.46. The trade was a 13.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 51,417 shares of company stock worth $1,063,184 in the last quarter. Corporate insiders own 6.20% of the company’s stock.
Bandwidth Company Profile
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.
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