Bandwidth (NASDAQ:BAND) issued its earnings results on Wednesday. The company reported ($0.04) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.23) by $0.19, Briefing.com reports. Bandwidth had a net margin of 6.71% and a negative return on equity of 2.45%. The firm had revenue of $56.80 million during the quarter, compared to analyst estimates of $55.06 million. During the same quarter in the prior year, the business earned $0.20 earnings per share. Bandwidth’s revenue for the quarter was up 17.6% on a year-over-year basis.
Shares of BAND traded up $0.22 during midday trading on Friday, hitting $79.25. The stock had a trading volume of 345,414 shares, compared to its average volume of 229,940. Bandwidth has a 1 year low of $27.75 and a 1 year high of $85.83. The stock has a market capitalization of $1.80 billion, a price-to-earnings ratio of 254.81 and a beta of 0.77. The company’s 50 day moving average is $76.61.
In related news, Director Lukas M. Roush sold 750 shares of the firm’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $76.54, for a total value of $57,405.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, General Counsel W. Christopher Matton sold 62,500 shares of the firm’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $77.19, for a total transaction of $4,824,375.00. The disclosure for this sale can be found here. In the last three months, insiders sold 375,394 shares of company stock worth $28,203,587. Insiders own 15.27% of the company’s stock.
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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