Bandwidth Inc (BAND) Expected to Post Quarterly Sales of $51.26 Million

Wall Street analysts expect Bandwidth Inc (NASDAQ:BAND) to announce sales of $51.26 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Bandwidth’s earnings. The lowest sales estimate is $51.26 million and the highest is $51.27 million. Bandwidth posted sales of $53.01 million in the same quarter last year, which suggests a negative year-over-year growth rate of 3.3%. The business is scheduled to report its next earnings report on Wednesday, May 1st.

According to Zacks, analysts expect that Bandwidth will report full year sales of $232.54 million for the current financial year, with estimates ranging from $232.14 million to $233.00 million. For the next year, analysts forecast that the company will report sales of $274.48 million, with estimates ranging from $269.15 million to $277.65 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Bandwidth.

Bandwidth (NASDAQ:BAND) last released its earnings results on Wednesday, February 13th. The company reported ($0.04) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.29) by $0.25. Bandwidth had a net margin of 8.78% and a return on equity of 2.14%. The company had revenue of $52.34 million during the quarter, compared to analysts’ expectations of $49.37 million. During the same quarter last year, the business earned $0.09 EPS. The business’s revenue was up 23.2% on a year-over-year basis.

BAND has been the subject of several recent analyst reports. Zacks Investment Research cut shares of Bandwidth from a “hold” rating to a “sell” rating in a research note on Monday, February 18th. Morgan Stanley raised their target price on shares of Bandwidth from $44.00 to $46.00 and gave the stock an “equal weight” rating in a research note on Monday, January 7th. ValuEngine upgraded shares of Bandwidth from a “hold” rating to a “buy” rating in a research note on Wednesday, January 2nd. Finally, KeyCorp raised their target price on shares of Bandwidth from $64.00 to $75.00 and gave the stock an “overweight” rating in a research note on Monday, March 25th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $55.25.

Shares of BAND stock traded up $0.22 during mid-day trading on Friday, hitting $66.96. The stock had a trading volume of 155,642 shares, compared to its average volume of 283,078. Bandwidth has a fifty-two week low of $27.75 and a fifty-two week high of $69.80. The stock has a market capitalization of $1.33 billion, a PE ratio of 216.00 and a beta of 0.75.

In related news, CEO David A. Morken sold 100,841 shares of the firm’s stock in a transaction dated Friday, January 4th. The shares were sold at an average price of $40.86, for a total value of $4,120,363.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Brian D. Bailey sold 2,818 shares of the firm’s stock in a transaction dated Wednesday, February 27th. The shares were sold at an average price of $53.36, for a total transaction of $150,368.48. The disclosure for this sale can be found here. Insiders sold 548,633 shares of company stock valued at $27,214,502 in the last quarter. Company insiders own 48.62% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in BAND. Bank of America Corp DE lifted its stake in shares of Bandwidth by 92.3% in the fourth quarter. Bank of America Corp DE now owns 2,552 shares of the company’s stock valued at $104,000 after purchasing an additional 1,225 shares during the period. M Holdings Securities Inc. acquired a new stake in shares of Bandwidth in the fourth quarter valued at about $219,000. Alethea Capital Management LLC acquired a new position in Bandwidth during the fourth quarter worth about $248,000. Man Group plc acquired a new position in Bandwidth during the third quarter worth about $348,000. Finally, Raymond James & Associates acquired a new position in Bandwidth during the fourth quarter worth about $385,000. Hedge funds and other institutional investors own 42.76% of the company’s stock.

About Bandwidth

Bandwidth Inc operates as a cloud-based software-powered communications platform-as-a-service (CPaaS) provides 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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