Zacks: Analysts Anticipate Bandwidth Inc (NASDAQ:BAND) Will Post Quarterly Sales of $75.01 Million

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Analysts predict that Bandwidth Inc (NASDAQ:BAND) will post $75.01 million in sales for the current quarter, according to Zacks. Four analysts have provided estimates for Bandwidth’s earnings, with estimates ranging from $71.10 million to $76.40 million. Bandwidth posted sales of $60.49 million in the same quarter last year, which suggests a positive year-over-year growth rate of 24%. The business is scheduled to issue its next earnings results after the market closes on Thursday, October 29th.

On average, analysts expect that Bandwidth will report full year sales of $294.66 million for the current financial year, with estimates ranging from $281.70 million to $299.00 million. For the next fiscal year, analysts forecast that the company will report sales of $335.64 million, with estimates ranging from $317.40 million to $344.82 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Bandwidth.

Bandwidth (NASDAQ:BAND) last announced its quarterly earnings data on Thursday, July 30th. The company reported $0.13 EPS for the quarter. Bandwidth had a negative return on equity of 1.42% and a negative net margin of 9.21%. The business had revenue of $76.79 million during the quarter, compared to the consensus estimate of $70.44 million.

A number of equities analysts have recently commented on the company. JPMorgan Chase & Co. boosted their price objective on Bandwidth from $170.00 to $190.00 and gave the stock an “overweight” rating in a research report on Tuesday. ValuEngine upgraded Bandwidth from a “hold” rating to a “buy” rating in a research note on Thursday, October 1st. BidaskClub upgraded Bandwidth from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. Canaccord Genuity boosted their target price on Bandwidth from $175.00 to $225.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Morgan Stanley cut Bandwidth from an “equal weight” rating to an “underweight” rating and set a $140.00 target price for the company. in a research note on Wednesday, October 7th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $180.25.

In other news, Director Douglas A. Suriano sold 234 shares of the company’s stock in a transaction that occurred on Wednesday, September 30th. The stock was sold at an average price of $175.90, for a total transaction of $41,160.60. Following the completion of the sale, the director now owns 5,565 shares in the company, valued at $978,883.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kade Ross sold 500 shares of the company’s stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $177.29, for a total value of $88,645.00. Following the sale, the insider now owns 5,354 shares of the company’s stock, valued at approximately $949,210.66. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,234 shares of company stock valued at $213,106. 11.05% of the stock is owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. raised its stake in shares of Bandwidth by 20.3% during the third quarter. Envestnet Asset Management Inc. now owns 2,024 shares of the company’s stock worth $353,000 after purchasing an additional 342 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp purchased a new stake in shares of Bandwidth during the second quarter worth approximately $738,000. Quadrature Capital Ltd purchased a new stake in shares of Bandwidth during the second quarter worth approximately $2,477,000. Handelsbanken Fonder AB purchased a new stake in shares of Bandwidth during the second quarter worth approximately $4,445,000. Finally, Nuveen Asset Management LLC grew its holdings in Bandwidth by 23.8% during the second quarter. Nuveen Asset Management LLC now owns 106,491 shares of the company’s stock worth $13,525,000 after acquiring an additional 20,485 shares during the period. Institutional investors and hedge funds own 89.87% of the company’s stock.

Shares of Bandwidth stock traded down $3.48 on Wednesday, reaching $185.34. 268,348 shares of the company were exchanged, compared to its average volume of 411,070. Bandwidth has a 1-year low of $42.61 and a 1-year high of $198.60. The company has a market cap of $4.48 billion, a P/E ratio of -181.71 and a beta of 0.76. The company has a debt-to-equity ratio of 0.87, a current ratio of 11.85 and a quick ratio of 11.85. The stock’s 50 day moving average price is $164.02 and its 200-day moving average price is $127.85.

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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