Bandwidth (NASDAQ:BAND) Updates Q3 2020 After-Hours Earnings Guidance

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Bandwidth (NASDAQ:BAND) updated its third quarter 2020
After-Hours earnings guidance on Thursday. The company provided earnings per share guidance of -0.03–0.01 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $-0.02. The company issued revenue guidance of $76-76.5 million, compared to the consensus revenue estimate of $71.1 million.Bandwidth also updated its FY 2020
After-Hours guidance to 0.05-0.11 EPS.

Several brokerages recently issued reports on BAND. Zacks Investment Research lowered Bandwidth from a buy rating to a hold rating and set a $145.00 target price on the stock. in a research report on Thursday, July 23rd. KeyCorp increased their price objective on Bandwidth from $125.00 to $175.00 and gave the company an overweight rating in a report on Friday. BidaskClub raised Bandwidth from a buy rating to a strong-buy rating in a report on Thursday. Needham & Company LLC increased their price objective on Bandwidth from $120.00 to $170.00 and gave the company a buy rating in a report on Friday. Finally, JMP Securities increased their price objective on Bandwidth from $95.00 to $99.00 and gave the company a market outperform rating in a report on Friday, May 1st. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of Buy and a consensus target price of $140.57.

Bandwidth stock opened at $144.78 on Friday. The firm has a market cap of $3.45 billion, a price-to-earnings ratio of -141.94 and a beta of 0.80. Bandwidth has a 52 week low of $42.61 and a 52 week high of $156.99. The business’s 50-day moving average price is $130.29 and its 200 day moving average price is $92.98. The company has a quick ratio of 12.89, a current ratio of 12.89 and a debt-to-equity ratio of 0.82.

Bandwidth (NASDAQ:BAND) last posted its earnings results on Thursday, July 30th. The company reported $0.13 EPS for the quarter. The firm had revenue of $76.79 million for the quarter, compared to analyst estimates of $70.44 million. Bandwidth had a negative return on equity of 1.45% and a negative net margin of 9.21%. Equities analysts expect that Bandwidth will post -0.35 EPS for the current year.

In other Bandwidth news, CFO Jeffrey A. Hoffman sold 10,000 shares of the stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $94.89, for a total transaction of $948,900.00. Following the transaction, the chief financial officer now owns 21,366 shares in the company, valued at $2,027,419.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John C. Murdock sold 250 shares of the stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $131.90, for a total value of $32,975.00. Following the transaction, the director now owns 141,381 shares in the company, valued at approximately $18,648,153.90. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 147,271 shares of company stock worth $17,862,643. 11.05% of the stock is owned by corporate insiders.

Bandwidth Company Profile

Bandwidth Inc operates as a cloud-based software-powered communications platform-as-a-service (CPaaS) provider 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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Earnings History and Estimates for Bandwidth (NASDAQ:BAND)

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