Fintel reports that on May 4, 2023, Barclays maintained coverage of Bandwidth Inc - (NASDAQ:BAND) with a Overweight recommendation.
Analyst Price Forecast Suggests 112.86% Upside
As of April 24, 2023, the average one-year price target for Bandwidth Inc - is 24.99. The forecasts range from a low of 18.18 to a high of $35.70. The average price target represents an increase of 112.86% from its latest reported closing price of 11.74.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Bandwidth Inc - is 628MM, an increase of 8.31%. The projected annual non-GAAP EPS is 0.54.
What is the Fund Sentiment?
There are 383 funds or institutions reporting positions in Bandwidth Inc -. This is an increase of 23 owner(s) or 6.39% in the last quarter. Average portfolio weight of all funds dedicated to BAND is 0.08%, an increase of 36.51%. Total shares owned by institutions increased in the last three months by 6.66% to 22,958K shares. 
The put/call ratio of BAND is 1.01, indicating a bearish outlook.
What are Other Shareholders Doing?
Capital Research Global Investors holds 1,173K shares representing 4.60% ownership of the company. In it's prior filing, the firm reported owning 1,614K shares, representing a decrease of 37.61%. The firm increased its portfolio allocation in BAND by 28.92% over the last quarter.
SMCWX - SMALLCAP WORLD FUND INC holds 966K shares representing 3.79% ownership of the company. In it's prior filing, the firm reported owning 1,329K shares, representing a decrease of 37.62%. The firm increased its portfolio allocation in BAND by 30.98% over the last quarter.
D. E. Shaw holds 887K shares representing 3.48% ownership of the company. In it's prior filing, the firm reported owning 504K shares, representing an increase of 43.16%. The firm increased its portfolio allocation in BAND by 213.95% over the last quarter.
Bank of New York Mellon holds 733K shares representing 2.88% ownership of the company. In it's prior filing, the firm reported owning 762K shares, representing a decrease of 4.00%. The firm increased its portfolio allocation in BAND by 74.46% over the last quarter.
Millennium Management holds 730K shares representing 2.86% ownership of the company. In it's prior filing, the firm reported owning 147K shares, representing an increase of 79.82%. The firm increased its portfolio allocation in BAND by 794.30% over the last quarter.
Bandwidth Background Information
(This description is provided by the company.)
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.
See all Bandwidth Inc - regulatory filings.This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
