Bandwidth (NASDAQ:BAND) Issues Quarterly Earnings Results

Bandwidth (NASDAQ:BAND – Get Rating) released its earnings results on Wednesday. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.17, Briefing.com reports. The firm had revenue of $131.00 million for the quarter, compared to analyst estimates of $125.79 million. Bandwidth had a positive return on equity of 1.45% and a negative net margin of 5.67%. The company’s quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.17 earnings per share. Bandwidth updated its Q2 guidance to $(0.09)-$(0.05) EPS and its FY22 guidance to $0.10-$0.14 EPS.

Shares of BAND traded down $5.33 during trading hours on Friday, hitting $21.41. The company had a trading volume of 1,158,748 shares, compared to its average volume of 456,317. The firm has a market cap of $539.75 million, a price-to-earnings ratio of -18.46 and a beta of 0.92. The business has a fifty day moving average of $28.65 and a 200-day moving average of $54.26. Bandwidth has a 12 month low of $21.11 and a 12 month high of $145.97. The company has a quick ratio of 4.42, a current ratio of 4.42 and a debt-to-equity ratio of 1.18.

In other Bandwidth news, CFO Daryl Raiford purchased 8,135 shares of the stock in a transaction that occurred on Monday, February 28th. The shares were acquired at an average cost of $30.73 per share, with a total value of $249,988.55. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Gabriela Gonzalez sold 863 shares of the firm’s stock in a transaction dated Tuesday, February 22nd. The stock was sold at an average price of $50.73, for a total transaction of $43,779.99. The disclosure for this sale can be found here. Insiders bought 21,135 shares of company stock worth $616,629 over the last three months. Insiders own 5.79% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Thrivent Financial for Lutherans increased its position in Bandwidth by 18.2% during the fourth quarter. Thrivent Financial for Lutherans now owns 528,837 shares of the company’s stock worth $38,067,000 after acquiring an additional 81,542 shares during the period. Morgan Stanley increased its position in Bandwidth by 103.5% during the second quarter. Morgan Stanley now owns 292,767 shares of the company’s stock worth $40,378,000 after acquiring an additional 148,866 shares during the period. Barclays PLC increased its position in Bandwidth by 16.4% during the fourth quarter. Barclays PLC now owns 238,485 shares of the company’s stock worth $17,113,000 after acquiring an additional 33,516 shares during the period. Norges Bank bought a new position in Bandwidth during the fourth quarter worth about $15,654,000. Finally, Charles Schwab Investment Management Inc. grew its stake in Bandwidth by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 164,389 shares of the company’s stock worth $11,797,000 after buying an additional 3,202 shares in the last quarter.

Several equities analysts recently issued reports on BAND shares. Piper Sandler decreased their price objective on Bandwidth from $102.00 to $51.00 and set an “overweight” rating for the company in a research report on Thursday, February 24th. Colliers Securities reiterated a “buy” rating and issued a $75.00 price target on shares of Bandwidth in a report on Thursday, February 24th. Canaccord Genuity Group reduced their price target on shares of Bandwidth from $150.00 to $86.00 and set a “buy” rating for the company in a report on Thursday, February 24th. Barclays reduced their price target on shares of Bandwidth from $80.00 to $45.00 and set an “overweight” rating for the company in a report on Tuesday, April 26th. Finally, Robert W. Baird reduced their price target on shares of Bandwidth from $200.00 to $48.00 in a report on Thursday, February 24th. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, Bandwidth has an average rating of “Buy” and an average price target of $83.07.

Bandwidth Company Profile (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.

Featured Stories