Equities analysts forecast that Bandwidth Inc (NASDAQ:BAND) will report $49.32 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Bandwidth’s earnings, with the highest sales estimate coming in at $49.33 million and the lowest estimate coming in at $49.30 million. Bandwidth posted sales of $42.47 million during the same quarter last year, which suggests a positive year-over-year growth rate of 16.1%. The company is scheduled to issue its next earnings results on Wednesday, February 20th.
According to Zacks, analysts expect that Bandwidth will report full-year sales of $201.11 million for the current year, with estimates ranging from $201.07 million to $201.17 million. For the next fiscal year, analysts anticipate that the company will report sales of $226.02 million, with estimates ranging from $224.25 million to $228.68 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Bandwidth.
Bandwidth (NASDAQ:BAND) last posted its earnings results on Tuesday, October 30th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the 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 for the quarter, compared to analyst estimates of $47.94 million. During the same quarter in the previous year, the firm earned $0.15 earnings per share. The firm’s quarterly revenue was up 22.3% compared to the same quarter last year.
Several research firms have issued reports on BAND. Morgan Stanley lifted their target price on Bandwidth from $40.00 to $44.00 and gave the company a “hold” rating in a research note on Wednesday, October 31st. ValuEngine upgraded Bandwidth from a “hold” rating to a “buy” rating in a research note on Thursday, November 1st. Zacks Investment Research lowered Bandwidth from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 5th. KeyCorp reissued an “overweight” rating and issued a $64.00 price target on shares of Bandwidth in a report on Monday, September 3rd. Finally, Canaccord Genuity raised 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. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $45.67.
In other Bandwidth news, Director Henry R. Kaestner sold 19,199 shares of the firm’s stock in a transaction dated Thursday, August 23rd. The stock was sold at an average price of $45.04, for a total value of $864,722.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Jeffrey A. Hoffman sold 16,191 shares of the firm’s stock in a transaction dated Tuesday, August 28th. The stock was sold at an average price of $45.31, for a total value of $733,614.21. The disclosure for this sale can be found here. In the last three months, insiders sold 64,471 shares of company stock valued at $2,924,210. Corporate insiders own 48.62% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. Citadel Advisors LLC acquired a new stake in Bandwidth in the second quarter worth about $213,000. Northern Trust Corp acquired a new stake in shares of Bandwidth during the first quarter worth about $263,000. Jane Street Group LLC acquired a new stake in shares of Bandwidth during the second quarter worth about $381,000. Monarch Partners Asset Management LLC acquired a new stake in shares of Bandwidth during the third quarter worth about $823,000. Finally, Personal Capital Advisors Corp acquired a new stake in shares of Bandwidth during the second quarter worth about $681,000. 30.30% of the stock is owned by institutional investors and hedge funds.
BAND traded down $0.48 on Monday, hitting $48.32. The company had a trading volume of 356,249 shares, compared to its average volume of 133,058. Bandwidth has a 12-month low of $18.05 and a 12-month high of $57.50. The firm has a market capitalization of $927.34 million and a PE ratio of 98.61.
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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