Equities research analysts at Needham & Company LLC started coverage on shares of Bandwidth (NASDAQ:BAND) in a research report issued to clients and investors on Tuesday, The Fly reports. The brokerage set a “buy” rating on the stock.

Several other research analysts have also recently issued reports on BAND. ValuEngine raised Bandwidth from a “sell” rating to a “hold” rating in a report on Tuesday, October 22nd. Morgan Stanley lowered Bandwidth from an “underweight” rating to an “equal” rating in a research report on Tuesday, October 22nd. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $77.50.

Shares of BAND stock opened at $53.44 on Tuesday. The business has a fifty day moving average of $55.39 and a 200 day moving average of $71.00. Bandwidth has a 1 year low of $27.75 and a 1 year high of $90.63. The firm has a market capitalization of $1.31 billion, a price-to-earnings ratio of 172.39 and a beta of 0.49.

Bandwidth (NASDAQ:BAND) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.06) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.15) by $0.09. The business had revenue of $60.50 million for the quarter, compared to the consensus estimate of $58.78 million. Bandwidth had a negative return on equity of 4.52% and a net margin of 1.42%. The company’s quarterly revenue was up 19.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.05) EPS. Equities analysts predict that Bandwidth will post -0.61 earnings per share for the current year.

Several large investors have recently added to or reduced their stakes in the company. US Bancorp DE lifted its position in Bandwidth by 66.8% during the second quarter. US Bancorp DE now owns 502 shares of the company’s stock valued at $37,000 after purchasing an additional 201 shares during the period. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Bandwidth by 118.3% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 738 shares of the company’s stock valued at $55,000 after buying an additional 400 shares during the last quarter. Tower Research Capital LLC TRC purchased a new position in shares of Bandwidth during the 3rd quarter valued at about $49,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Bandwidth in the 2nd quarter valued at about $66,000. Finally, Bank of Montreal Can acquired a new position in shares of Bandwidth in the 2nd quarter valued at about $103,000. Hedge funds and other institutional investors own 68.25% of the company’s stock.

Bandwidth Company Profile

Bandwidth Inc operates as a cloud-based software-powered communications platform-as-a-service (CPaaS) provider 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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The Fly

Analyst Recommendations for Bandwidth (NASDAQ:BAND)

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