$58.65 Million in Sales Expected for Bandwidth Inc (NASDAQ:BAND) This Quarter

Wall Street analysts predict that Bandwidth Inc (NASDAQ:BAND) will announce sales of $58.65 million for the current quarter, according to Zacks. Three analysts have made estimates for Bandwidth’s earnings, with estimates ranging from $58.54 million to $58.80 million. Bandwidth reported sales of $52.34 million during the same quarter last year, which would suggest a positive year over year growth rate of 12.1%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, February 12th.

According to Zacks, analysts expect that Bandwidth will report full year sales of $229.19 million for the current fiscal year, with estimates ranging from $229.00 million to $229.40 million. For the next year, analysts forecast that the company will report sales of $269.02 million, with estimates ranging from $264.60 million to $271.29 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Bandwidth.

Bandwidth (NASDAQ:BAND) last issued its earnings results on Wednesday, November 6th. The company reported ($0.06) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.15) by $0.09. Bandwidth had a negative return on equity of 4.52% and a net margin of 1.42%. The company had revenue of $60.50 million during the quarter, compared to the consensus estimate of $58.78 million. During the same period in the previous year, the company posted ($0.05) EPS. The firm’s revenue for the quarter was up 19.8% compared to the same quarter last year.

A number of analysts recently weighed in on the stock. Morgan Stanley lowered shares of Bandwidth from an “underweight” rating to an “equal” rating in a research report on Tuesday, October 22nd. Canaccord Genuity reissued a “buy” rating and issued a $70.00 price objective (up from $60.00) on shares of Bandwidth in a research report on Tuesday, December 17th. KeyCorp reissued an “overweight” rating and issued a $76.00 price objective on shares of Bandwidth in a research report on Monday. ValuEngine lowered shares of Bandwidth from a “hold” rating to a “sell” rating in a research report on Wednesday, December 18th. Finally, Zacks Investment Research raised shares of Bandwidth from a “hold” rating to a “buy” rating and set a $76.00 price objective on the stock in a research report on Tuesday, January 7th. One analyst has rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $74.86.

In related news, CEO David A. Morken sold 2,530 shares of Bandwidth stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $70.14, for a total transaction of $177,454.20. Following the transaction, the chief executive officer now directly owns 3,357 shares of the company’s stock, valued at $235,459.98. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Jeffrey A. Hoffman sold 690 shares of Bandwidth stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $64.79, for a total transaction of $44,705.10. Following the transaction, the chief financial officer now directly owns 7,602 shares in the company, valued at $492,533.58. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 8,256 shares of company stock worth $574,115. Corporate insiders own 15.27% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. US Bancorp DE boosted its stake in Bandwidth by 66.8% in the second quarter. US Bancorp DE now owns 502 shares of the company’s stock valued at $37,000 after acquiring an additional 201 shares in the last quarter. Tower Research Capital LLC TRC purchased a new position in shares of Bandwidth during the third quarter worth $49,000. Ladenburg Thalmann Financial Services Inc. raised its holdings in shares of Bandwidth by 118.3% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 738 shares of the company’s stock worth $55,000 after purchasing an additional 400 shares during the last quarter. Bank of Montreal Can purchased a new position in shares of Bandwidth during the second quarter worth $103,000. Finally, Metropolitan Life Insurance Co NY purchased a new position in shares of Bandwidth during the third quarter worth $323,000. 68.22% of the stock is currently owned by institutional investors.

Bandwidth stock traded down $0.22 during midday trading on Monday, reaching $70.74. The stock had a trading volume of 15,645 shares, compared to its average volume of 186,750. Bandwidth has a 52-week low of $41.34 and a 52-week high of $90.63. The firm has a market cap of $1.66 billion, a price-to-earnings ratio of 228.19 and a beta of 0.53. The company has a fifty day moving average of $61.43 and a 200 day moving average of $68.17.

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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