Today’s big question for investors is, “what’s going on with Bandwidth Inc. (NASDAQ:BAND) stock? Its price is nose-diving -2.75 points, trading at $52.45 levels, and is down -4.98% from its previous close of $55.2. The shares seem to have an active trading volume day with a reported 102348 contracts so far this session. BAND shares had a relatively better volume day versus average trading capacity of 300.73 thousand shares, but with a 17.65 million float and a 3.39% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for BAND stock indicates that the average analyst price target is $67.17 per share. This means the stock has a potential increase of 28.06% from where the BAND share price has been trading recently which is between $53.1 and $55.42.
During the recent trading session for Bandwidth Inc. (NASDAQ:BAND), the company witnessed their stock drop by $-0.3 over a week and tumble down $-2.53 from the price 20 days ago. When compared to their established 52-week high of $90.63, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 08/23/19. The recent low of $27.75 stood for a -42.13% since 12/21/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Bandwidth Inc., the two-week RSI stands at 41.7. This figure suggests that BAND stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current BAND readings is similarly very revealing as it has a stochastic reading of 45.54% at this stage. This figure means that BAND share price today is being neutral.
Technical chart claims that Bandwidth Inc. (BAND) would settle between $56.05/share to $56.89/share level. However, if the stock price goes below the $53.73 mark, then the market for Bandwidth Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $52.25 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.17. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Needham, assumed coverage of BAND assigning Buy rating, according to their opinion released on December 03. Needham, analysts launched coverage of Bandwidth Inc. (NASDAQ:BAND) stock with a Buy recommendation, according to their flash note issued to investors on December 03. Analysts at Morgan Stanley released an upgrade from Underweight to Equal-Weight for the stock, in a research note that dated back to October 22.
BAND equity has an average rating of 1.5, with the figure leaning towards a bullish end. 6 analysts who tracked the company were contacted by Reuters. Amongst them, 0 rated the stock as a hold while the remaining 6 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 6 analysts rated Bandwidth Inc. (NASDAQ:BAND) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, BAND stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/E ratio is 501.8 while for the average stock in the same group, the multiple is 30. Bandwidth Inc. current P/B ratio of 4.8 means it is trading at a discount against its industry’s 9.5.
Bandwidth Inc. (BAND)’s current-quarter revenues are projected to climb by nearly 12.5% to hit $58.9 million, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over 12.3% from $204110 to a noteworthy $229210. At the other end of the current quarter income statement, Bandwidth Inc. is expected to see its adjusted earnings surge by roughly -250% to hit $-0.14 per share. For the fiscal year, BAND’s earnings are projected to climb by roughly -183.7% to hit $-0.36 per share.