Equities analysts predict that Bandwidth Inc (NASDAQ:BAND) will report $47.98 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Bandwidth’s earnings, with estimates ranging from $47.94 million to $48.02 million. Bandwidth reported sales of $41.34 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 16.1%. The company is expected to issue its next earnings report on Wednesday, December 12th.
According to Zacks, analysts expect that Bandwidth will report full-year sales of $198.39 million for the current year, with estimates ranging from $198.21 million to $198.56 million. For the next financial year, analysts forecast that the company will report sales of $222.24 million per share, with estimates ranging from $219.43 million to $226.08 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Bandwidth.
Bandwidth (NASDAQ:BAND) last released its quarterly earnings data on Tuesday, July 31st. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.32. Bandwidth had a net margin of 9.58% and a return on equity of 13.25%. The company had revenue of $48.30 million during the quarter, compared to the consensus estimate of $45.30 million.
BAND has been the subject of several research analyst reports. Canaccord Genuity upped their price objective on shares of Bandwidth from $30.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, May 3rd. Morgan Stanley upped their price objective on shares of Bandwidth from $28.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, May 3rd. KeyCorp reaffirmed a “buy” rating on shares of Bandwidth in a report on Wednesday, May 2nd. Finally, Dougherty & Co set a $40.00 target price on shares of Bandwidth and gave the company a “buy” rating in a report on Tuesday, April 24th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $38.00.
NASDAQ BAND opened at $44.98 on Wednesday. Bandwidth has a 1 year low of $18.05 and a 1 year high of $45.00. The firm has a market capitalization of $842.78 million and a price-to-earnings ratio of 91.76.
In other news, Director Henry R. Kaestner sold 8,750 shares of the company’s stock in a transaction dated Monday, August 13th. The shares were sold at an average price of $43.96, for a total value of $384,650.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Carmichael Bandwidth Llc sold 593,000 shares of the company’s stock in a transaction dated Monday, June 11th. The shares were sold at an average price of $38.50, for a total transaction of $22,830,500.00. The disclosure for this sale can be found here. Insiders sold 1,205,012 shares of company stock valued at $47,951,621 over the last ninety days. Corporate insiders own 48.62% of the company’s stock.
Several large investors have recently made changes to their positions in BAND. Russell Investments Group Ltd. raised its holdings in Bandwidth by 3.4% during the second quarter. Russell Investments Group Ltd. now owns 40,463 shares of the company’s stock worth $1,537,000 after purchasing an additional 1,341 shares in the last quarter. Citadel Advisors LLC purchased a new position in Bandwidth during the second quarter worth about $213,000. Barclays PLC purchased a new position in Bandwidth during the first quarter worth about $262,000. Northern Trust Corp purchased a new position in Bandwidth during the first quarter worth about $263,000. Finally, Wedbush Securities Inc. purchased a new position in Bandwidth during the first quarter worth about $269,000. 26.73% of the stock is owned by institutional investors and hedge funds.
Bandwidth Inc operates as a cloud-based software-powered communications platform-as-a-service (CPaaS) provides 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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