Zacks: Brokerages Anticipate Bandwidth Inc. (NASDAQ:BAND) Will Post Quarterly Sales of $125.91 Million

Analysts predict that Bandwidth Inc. (NASDAQ:BAND – Get Rating) will post $125.91 million in sales for the current quarter, Zacks reports. Five analysts have issued estimates for Bandwidth’s earnings. The lowest sales estimate is $125.11 million and the highest is $126.60 million. Bandwidth reported sales of $113.48 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 11%. The business is scheduled to issue its next earnings report after the market closes on Monday, January 1st.

According to Zacks, analysts expect that Bandwidth will report full-year sales of $550.28 million for the current fiscal year, with estimates ranging from $547.36 million to $552.58 million. For the next fiscal year, analysts expect that the company will report sales of $638.02 million, with estimates ranging from $618.11 million to $653.10 million. Zacks’ sales calculations are an average based on a survey of analysts that follow Bandwidth.

Bandwidth (NASDAQ:BAND – Get Rating) last announced its quarterly earnings data on Tuesday, February 22nd. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.22. Bandwidth had a positive return on equity of 2.80% and a negative net margin of 5.57%. The company had revenue of $126.00 million during the quarter, compared to analyst estimates of $118.18 million. During the same quarter last year, the firm posted $0.06 EPS. The firm’s revenue for the quarter was up 11.5% on a year-over-year basis.

BAND has been the subject of several recent research reports. Morgan Stanley decreased their price objective on Bandwidth from $63.00 to $38.00 and set an “equal weight” rating for the company in a report on Tuesday, April 12th. Zacks Investment Research lowered Bandwidth from a “strong-buy” rating to a “hold” rating and set a $77.00 price objective for the company. in a report on Sunday, January 16th. Citigroup reduced their target price on Bandwidth from $57.00 to $44.00 and set a “neutral” rating for the company in a report on Thursday, February 24th. Piper Sandler reduced their target price on Bandwidth from $102.00 to $51.00 and set an “overweight” rating for the company in a report on Thursday, February 24th. Finally, JMP Securities reduced their target price on Bandwidth from $206.00 to $100.00 and set an “outperform” rating for the company in a report on Thursday, February 24th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $86.40.

In other Bandwidth news, Director Brian D. Bailey purchased 10,000 shares of the company’s stock in a transaction dated Tuesday, March 8th. The stock was purchased at an average price of $27.43 per share, for a total transaction of $274,300.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Richard Brandon Asbill bought 3,000 shares of the company’s stock in a transaction that occurred on Monday, February 28th. The stock was purchased at an average price of $30.78 per share, with a total value of $92,340.00. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 21,135 shares of company stock valued at $616,629. Corporate insiders own 11.05% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in BAND. First Horizon Advisors Inc. lifted its position in Bandwidth by 772.0% in the 3rd quarter. First Horizon Advisors Inc. now owns 218 shares of the company’s stock worth $26,000 after buying an additional 193 shares during the last quarter. Orion Capital Management LLC lifted its position in Bandwidth by 100.0% in the fourth quarter. Orion Capital Management LLC now owns 400 shares of the company’s stock valued at $29,000 after purchasing an additional 200 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in Bandwidth by 270.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 740 shares of the company’s stock valued at $46,000 after purchasing an additional 540 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in Bandwidth in the third quarter valued at approximately $104,000. Finally, Ensign Peak Advisors Inc bought a new stake in Bandwidth in the fourth quarter valued at approximately $244,000. Institutional investors own 99.14% of the company’s stock.

Shares of BAND opened at $26.87 on Tuesday. The business has a 50-day moving average price of $32.51. Bandwidth has a fifty-two week low of $24.01 and a fifty-two week high of $145.97. The stock has a market cap of $677.34 million, a price-to-earnings ratio of -24.43 and a beta of 0.72. The company has a current ratio of 4.42, a quick ratio of 4.42 and a debt-to-equity ratio of 1.18.

About Bandwidth (Get Rating)

Bandwidth is a leading enterprise cloud communications company. Companies like Cisco, Google, Microsoft, RingCentral, Uber, and Zoom use Bandwidth’s APIs to easily embed voice, messaging, and emergency services into software and applications. Bandwidth is the first and only CPaaS provider offering a robust selection of communications APIs built around their own IP voice network.

Read More