Bandwidth Inc (NASDAQ:BAND) Expected to Announce Quarterly Sales of $70.44 Million

Analysts expect that Bandwidth Inc (NASDAQ:BAND) will report sales of $70.44 million for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Bandwidth’s earnings. The highest sales estimate is $70.60 million and the lowest is $70.24 million. Bandwidth posted sales of $56.78 million during the same quarter last year, which suggests a positive year-over-year growth rate of 24.1%. The business is expected to issue its next earnings report on Wednesday, July 29th.

According to Zacks, analysts expect that Bandwidth will report full-year sales of $282.21 million for the current year, with estimates ranging from $281.66 million to $282.50 million. For the next financial year, analysts forecast that the company will post sales of $325.98 million, with estimates ranging from $317.41 million to $333.70 million. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Bandwidth.

Bandwidth (NASDAQ:BAND) last released its earnings results on Thursday, April 30th. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.15. Bandwidth had a negative return on equity of 2.67% and a negative net margin of 0.22%. The firm had revenue of $68.50 million for the quarter, compared to analysts’ expectations of $63.29 million. During the same period in the prior year, the firm posted ($0.12) earnings per share. The company’s quarterly revenue was up 28.5% on a year-over-year basis.

Several equities research analysts recently commented on the company. Robert W. Baird reaffirmed a “buy” rating and set a $100.00 price objective on shares of Bandwidth in a research report on Thursday, March 26th. KeyCorp increased their price objective on Bandwidth from $120.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, June 11th. Canaccord Genuity reaffirmed a “buy” rating and set a $130.00 price objective on shares of Bandwidth in a research report on Friday, May 29th. JMP Securities increased their price objective on Bandwidth from $95.00 to $99.00 and gave the company a “market outperform” rating in a research report on Friday, May 1st. Finally, William Blair assumed coverage on Bandwidth in a research report on Monday, May 11th. They set an “outperform” rating on the stock. Two analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $108.88.

In other Bandwidth news, Director John C. Murdock sold 29,036 shares of the firm’s stock in a transaction dated Thursday, April 16th. The stock was sold at an average price of $76.48, for a total value of $2,220,673.28. Following the transaction, the director now directly owns 179,592 shares of the company’s stock, valued at $13,735,196.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Rebecca Bottorff sold 3,409 shares of the firm’s stock in a transaction dated Wednesday, April 22nd. The stock was sold at an average price of $80.00, for a total value of $272,720.00. Following the completion of the transaction, the insider now directly owns 6,791 shares in the company, valued at $543,280. The disclosure for this sale can be found here. Insiders sold 178,571 shares of company stock worth $20,045,318 over the last three months. Insiders own 11.05% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of BAND. Oppenheimer Asset Management Inc. bought a new position in shares of Bandwidth in the first quarter worth about $27,000. Great West Life Assurance Co. Can bought a new position in shares of Bandwidth in the fourth quarter worth about $61,000. US Bancorp DE raised its stake in shares of Bandwidth by 127.7% in the fourth quarter. US Bancorp DE now owns 979 shares of the company’s stock worth $63,000 after buying an additional 549 shares during the period. Marshall Wace LLP bought a new position in shares of Bandwidth in the fourth quarter worth about $70,000. Finally, Tower Research Capital LLC TRC raised its stake in shares of Bandwidth by 49.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,126 shares of the company’s stock worth $72,000 after buying an additional 372 shares during the period. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ BAND traded up $1.45 during trading on Monday, reaching $125.82. The company had a trading volume of 174,800 shares, compared to its average volume of 380,705. Bandwidth has a 12-month low of $42.61 and a 12-month high of $130.84. The stock has a market cap of $2.99 billion, a PE ratio of -6,199.50 and a beta of 0.78. The business’s 50-day moving average is $114.44 and its 200 day moving average is $80.51. The company has a quick ratio of 12.89, a current ratio of 12.89 and a debt-to-equity ratio of 0.82.

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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