Zacks: Analysts Anticipate Bandwidth Inc (NASDAQ:BAND) Will Post Quarterly Sales of $76.23 Million

Wall Street brokerages expect Bandwidth Inc (NASDAQ:BAND) to report sales of $76.23 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Bandwidth’s earnings, with the highest sales estimate coming in at $76.40 million and the lowest estimate coming in at $75.98 million. Bandwidth reported sales of $60.49 million during the same quarter last year, which indicates a positive year over year growth rate of 26%. The firm is scheduled to report its next quarterly earnings report on Wednesday, November 4th.

According to Zacks, analysts expect that Bandwidth will report full-year sales of $297.43 million for the current fiscal year, with estimates ranging from $296.54 million to $298.00 million. For the next financial year, analysts forecast that the business will post sales of $338.25 million, with estimates ranging from $331.00 million to $344.82 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Bandwidth.

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

Several analysts have recently commented on the stock. Needham & Company LLC upped their price objective on shares of Bandwidth from $120.00 to $170.00 and gave the company a “buy” rating in a report on Friday, July 31st. BidaskClub raised shares of Bandwidth from a “hold” rating to a “buy” rating in a report on Thursday. Zacks Investment Research downgraded shares of Bandwidth from a “buy” rating to a “hold” rating and set a $145.00 price target on the stock. in a report on Thursday, July 23rd. Canaccord Genuity reissued a “buy” rating and set a $175.00 price target on shares of Bandwidth in a report on Thursday, July 30th. Finally, KeyCorp increased their price target on shares of Bandwidth from $125.00 to $175.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Bandwidth currently has a consensus rating of “Buy” and a consensus price target of $140.57.

In other Bandwidth news, Director Douglas A. Suriano sold 234 shares of the stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $125.89, for a total transaction of $29,458.26. Following the completion of the transaction, the director now owns 5,215 shares of the company’s stock, valued at $656,516.35. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO David A. Morken sold 1,577 shares of the stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $130.56, for a total transaction of $205,893.12. Following the transaction, the chief executive officer now directly owns 2,404 shares of the company’s stock, valued at approximately $313,866.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,660 shares of company stock valued at $625,904. 11.05% of the stock is owned by company insiders.

A number of hedge funds have recently made changes to their positions in the business. Whittier Trust Co. purchased a new position in Bandwidth in the second quarter worth approximately $43,000. Oppenheimer Asset Management Inc. acquired a new stake in Bandwidth during the first quarter worth approximately $27,000. Liberty One Investment Management LLC acquired a new stake in Bandwidth during the second quarter worth approximately $59,000. Carroll Financial Associates Inc. raised its holdings in Bandwidth by 563.5% during the second quarter. Carroll Financial Associates Inc. now owns 564 shares of the company’s stock worth $71,000 after purchasing an additional 479 shares in the last quarter. Finally, Strs Ohio acquired a new stake in Bandwidth during the second quarter worth approximately $165,000. 89.87% of the stock is owned by institutional investors.

Bandwidth stock traded down $3.15 during mid-day trading on Monday, reaching $171.08. 478,387 shares of the company traded hands, compared to its average volume of 400,643. The company has a debt-to-equity ratio of 0.87, a current ratio of 11.85 and a quick ratio of 11.85. Bandwidth has a fifty-two week low of $42.61 and a fifty-two week high of $178.63. The company has a market capitalization of $4.13 billion, a price-to-earnings ratio of -167.73 and a beta of 0.80. The firm’s fifty day moving average is $153.19 and its two-hundred day moving average is $117.22.

About Bandwidth

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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