Bandwidth (BAND) Updates Q4 Earnings Guidance

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Bandwidth (NASDAQ:BAND) issued an update on its fourth quarter earnings guidance on Tuesday morning. The company provided earnings per share guidance of ($0.30)-($0.28) for the period, compared to the Thomson Reuters consensus earnings per share estimate of ($0.27). The company issued revenue guidance of $49.1-$49.6 million, compared to the consensus revenue estimate of $49.31 million.

Bandwidth stock traded up $0.70 during midday trading on Tuesday, reaching $49.57. The stock had a trading volume of 140,100 shares, compared to its average volume of 124,460. Bandwidth has a twelve month low of $18.05 and a twelve month high of $57.00. The firm has a market capitalization of $923.19 million and a price-to-earnings ratio of 99.08.

Bandwidth (NASDAQ:BAND) last posted its quarterly earnings data on Tuesday, July 31st. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.32. Bandwidth had a net margin of 9.58% and a return on equity of 13.25%. The firm had revenue of $48.30 million during the quarter, compared to analyst estimates of $45.30 million. Equities analysts expect that Bandwidth will post -0.03 earnings per share for the current year.

A number of equities analysts recently commented on BAND shares. KeyCorp reaffirmed an overweight rating and issued a $64.00 price objective on shares of Bandwidth in a research note on Monday, September 3rd. Morgan Stanley lowered shares of Bandwidth from an overweight rating to an equal weight rating and set a $40.00 price objective for the company. in a research note on Monday, July 2nd. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Bandwidth presently has an average rating of Buy and an average price target of $41.67.

In other Bandwidth news, CFO Jeffrey A. Hoffman sold 3,823 shares of the stock in a transaction that occurred on Thursday, August 30th. The shares were sold at an average price of $45.28, for a total value of $173,105.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Jeffrey A. Hoffman sold 16,508 shares of the stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $46.53, for a total transaction of $768,117.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 459,471 shares of company stock valued at $19,568,660. Insiders own 48.62% of the company’s stock.

Bandwidth Company Profile

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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