Equities analysts expect that Bandwidth Inc (NASDAQ:BAND) will announce earnings per share of ($0.29) for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Bandwidth’s earnings, with the highest EPS estimate coming in at ($0.28) and the lowest estimate coming in at ($0.29). Bandwidth posted earnings per share of $0.09 in the same quarter last year, which suggests a negative year-over-year growth rate of 422.2%. The company is scheduled to issue its next quarterly earnings report on Wednesday, February 20th.
On average, analysts expect that Bandwidth will report full year earnings of $0.20 per share for the current year, with EPS estimates ranging from $0.19 to $0.21. For the next year, analysts anticipate that the business will post earnings of ($0.50) per share, with EPS estimates ranging from ($0.88) to ($0.14). Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that follow Bandwidth.
Bandwidth (NASDAQ:BAND) last released its quarterly earnings data on Tuesday, October 30th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.20) by $0.15. Bandwidth had a return on equity of 4.99% and a net margin of 9.58%. The company had revenue of $50.50 million during the quarter, compared to analysts’ expectations of $47.94 million. During the same period last year, the firm posted $0.15 earnings per share. The business’s revenue was up 22.3% on a year-over-year basis.
A number of research firms have recently issued reports on BAND. ValuEngine raised Bandwidth from a “hold” rating to a “buy” rating in a research report on Thursday, November 1st. Canaccord Genuity lifted their price target on Bandwidth from $44.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, October 31st. Morgan Stanley lifted their price target on Bandwidth from $40.00 to $44.00 and gave the stock a “hold” rating in a report on Wednesday, October 31st. Finally, Zacks Investment Research cut Bandwidth from a “strong-buy” rating to a “hold” rating in a report on Monday, November 5th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Bandwidth presently has a consensus rating of “Buy” and an average target price of $48.00.
In related news, General Counsel W. Christopher Matton sold 35,000 shares of Bandwidth stock in a transaction that occurred on Tuesday, December 4th. The stock was sold at an average price of $45.18, for a total transaction of $1,581,300.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David A. Morken sold 126,008 shares of Bandwidth stock in a transaction that occurred on Tuesday, January 8th. The stock was sold at an average price of $41.67, for a total value of $5,250,753.36. The disclosure for this sale can be found here. Over the last three months, insiders have sold 290,441 shares of company stock valued at $12,148,134. 48.62% of the stock is currently owned by insiders.
A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc increased its stake in Bandwidth by 101.4% during the 3rd quarter. Vanguard Group Inc now owns 343,435 shares of the company’s stock worth $18,398,000 after acquiring an additional 172,903 shares during the period. Vanguard Group Inc. increased its stake in Bandwidth by 101.4% during the 3rd quarter. Vanguard Group Inc. now owns 343,435 shares of the company’s stock worth $18,398,000 after acquiring an additional 172,903 shares during the period. Morgan Stanley increased its stake in Bandwidth by 124.3% during the 3rd quarter. Morgan Stanley now owns 94,812 shares of the company’s stock worth $5,079,000 after acquiring an additional 52,542 shares during the period. Man Group plc bought a new position in Bandwidth during the 3rd quarter worth $348,000. Finally, LPL Financial LLC increased its stake in Bandwidth by 21.5% during the 3rd quarter. LPL Financial LLC now owns 38,791 shares of the company’s stock worth $2,078,000 after acquiring an additional 6,853 shares during the period. Hedge funds and other institutional investors own 39.35% of the company’s stock.
Shares of BAND traded down $0.05 during mid-day trading on Friday, reaching $41.61. The company’s stock had a trading volume of 66,000 shares, compared to its average volume of 145,938. Bandwidth has a 1-year low of $19.45 and a 1-year high of $57.50. The stock has a market cap of $811.84 million, a price-to-earnings ratio of 84.92 and a beta of 0.55.
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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