Bandwidth (NASDAQ:BAND) Issues Quarterly Earnings Results

Bandwidth (NASDAQ:BANDGet 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. Bandwidth had a positive return on equity of 1.45% and a negative net margin of 5.67%. The firm had revenue of $131.00 million for the quarter, compared to analyst estimates of $125.79 million. During the same quarter in the prior year, the firm posted $0.17 earnings per share. The company’s quarterly revenue was up 15.9% on a year-over-year basis. Bandwidth updated its Q2 guidance to $(0.09)-$(0.05) EPS and its FY22 guidance to $0.10-$0.14 EPS.

BAND stock traded down $5.33 during trading hours on Friday, reaching $21.41. The stock had a trading volume of 1,158,748 shares, compared to its average volume of 456,317. The stock has a market capitalization of $539.75 million, a PE ratio of -18.46 and a beta of 0.92. The company has a debt-to-equity ratio of 1.18, a current ratio of 4.42 and a quick ratio of 4.42. The stock has a 50-day simple moving average of $28.65 and a 200 day simple moving average of $54.26. Bandwidth has a fifty-two week low of $21.11 and a fifty-two week high of $145.97.

In related news, Director Brian D. Bailey acquired 10,000 shares of the company’s stock in a transaction dated Tuesday, March 8th. The shares were bought at an average cost of $27.43 per share, with a total value of $274,300.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Gabriela Gonzalez sold 863 shares of the stock in a transaction dated Tuesday, February 22nd. The shares were 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. In the last quarter, insiders acquired 21,135 shares of company stock valued at $616,629. Corporate 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 have weighed in on the company. Citigroup cut their target price on Bandwidth from $57.00 to $44.00 and set a “neutral” rating on the stock in a research note on Thursday, February 24th. Barclays cut their price target on shares of Bandwidth from $80.00 to $45.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 26th. Morgan Stanley reduced their price target on shares of Bandwidth from $63.00 to $38.00 and set an “equal weight” rating for the company in a report on Tuesday, April 12th. Needham & Company LLC cut shares of Bandwidth from a “buy” rating to a “hold” rating in a report on Friday. Finally, Colliers Securities reiterated a “buy” rating and issued a $75.00 price target on shares of Bandwidth 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.

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Earnings History for Bandwidth (NASDAQ:BAND)

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