Bandwidth (NASDAQ:BAND) Research Coverage Started at Needham & Company LLC
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.
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.
Featured Article: Most Active Stocks: Dollar Volume vs Share Volume
Receive News & Ratings for Bandwidth Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bandwidth and related companies with MarketBeat.com's FREE daily email newsletter.