Fintel reports that on July 28, 2023, Citigroup maintained coverage of Bandwidth Inc - (NASDAQ:BAND) with a Neutral recommendation.
Analyst Price Forecast Suggests 39.25% Upside
As of July 6, 2023, the average one-year price target for Bandwidth Inc - is 20.40. The forecasts range from a low of 14.14 to a high of $35.70. The average price target represents an increase of 39.25% from its latest reported closing price of 14.65.
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 390 funds or institutions reporting positions in Bandwidth Inc -. This is an increase of 3 owner(s) or 0.78% in the last quarter. Average portfolio weight of all funds dedicated to BAND is 0.05%, a decrease of 38.24%. Total shares owned by institutions decreased in the last three months by 3.00% to 22,267K shares. 
The put/call ratio of BAND is 0.54, indicating a bullish outlook.
What are Other Shareholders Doing?
SMCWX - SMALLCAP WORLD FUND INC holds 966K shares representing 3.78% 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.
Bank of New York Mellon holds 723K shares representing 2.83% ownership of the company. In it's prior filing, the firm reported owning 733K shares, representing a decrease of 1.35%. The firm decreased its portfolio allocation in BAND by 92.80% over the last quarter.
D. E. Shaw holds 708K shares representing 2.77% ownership of the company. In it's prior filing, the firm reported owning 887K shares, representing a decrease of 25.15%. The firm decreased its portfolio allocation in BAND by 59.64% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 631K shares representing 2.47% ownership of the company. In it's prior filing, the firm reported owning 591K shares, representing an increase of 6.37%. The firm decreased its portfolio allocation in BAND by 34.68% over the last quarter.
Jacobs Levy Equity Management holds 606K shares representing 2.37% ownership of the company. In it's prior filing, the firm reported owning 610K shares, representing a decrease of 0.75%. The firm decreased its portfolio allocation in BAND by 40.45% 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.
Additional reading:
- SECOND AMENDMENT TO LEASE AGREEMENT
- Bandwidth Announces First Quarter 2023 Financial Results First quarter revenue of $138 million exceeded guidance Messaging revenue up 8% year-over-year
- Bandwidth Announces Additional Partial Repurchase of 0.25% Convertible Senior Notes Due 2026 Repurchasing $65 million of convertible debt at approximately 22% discount to par value Initially issued principal balance of $400 million notes due 2026 red
- Bandwidth Announces Fourth Quarter and Full Year 2022 Financial Results Quarterly and full year revenue exceeded mid-point of guidance ranges by $10 million Guiding to 30% increase in Adjusted EBITDA for full year 2023 Hosting inaugural Investor Day
- FIRST AMENDMENT TO EMPLOYMENT AGREEMENT
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.
