Bandwidth (NASDAQ:BAND) Releases FY 2022 Earnings Guidance

Bandwidth (NASDAQ:BANDGet Rating) updated its FY 2022 earnings guidance on Wednesday. The company provided EPS guidance of $0.10-$0.14 for the period, compared to the consensus EPS estimate of $0.07. The company issued revenue guidance of $551.00 million-$557.00 million, compared to the consensus revenue estimate of $551.50 million.

A number of brokerages have recently issued reports on BAND. Canaccord Genuity Group cut their price objective on shares of Bandwidth from $150.00 to $86.00 and set a buy rating for the company in a research note on Thursday, February 24th. JMP Securities cut their price objective on shares of Bandwidth from $206.00 to $100.00 and set an outperform rating for the company in a research note on Thursday, February 24th. Canaccord Genuity Group dropped their price target on shares of Bandwidth from $86.00 to $71.00 and set a buy rating for the company in a research report on Thursday, May 5th. Colliers Securities reissued a buy rating and set a $75.00 price target on shares of Bandwidth in a research report on Thursday, February 24th. Finally, Morgan Stanley dropped their price target on shares of Bandwidth from $63.00 to $38.00 and set an equal weight rating for the company in a research report on Tuesday, April 12th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Buy and an average target price of $83.07.

NASDAQ:BAND opened at $18.98 on Wednesday. The stock has a 50-day moving average of $28.22. Bandwidth has a 12 month low of $18.75 and a 12 month high of $145.97. The company has a debt-to-equity ratio of 1.18, a quick ratio of 4.42 and a current ratio of 4.42. The stock has a market cap of $478.45 million, a PE ratio of -16.36 and a beta of 0.92.

Bandwidth (NASDAQ:BANDGet Rating) last posted its earnings results on Wednesday, May 4th. The company reported $0.09 EPS for the quarter, topping the consensus estimate of ($0.08) by $0.17. Bandwidth had a negative net margin of 5.67% and a positive return on equity of 1.45%. The firm had revenue of $131.00 million during the quarter, compared to analysts’ expectations of $125.79 million. During the same period last year, the company posted $0.17 EPS. The company’s quarterly revenue was up 15.9% compared to the same quarter last year. On average, equities research analysts expect that Bandwidth will post -0.42 earnings per share for the current fiscal year.

In other Bandwidth news, Director Brian D. Bailey purchased 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 8th. The stock was bought at an average cost 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 through this link. Also, VP Gabriela Gonzalez sold 863 shares of the 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. Over the last quarter, insiders purchased 21,135 shares of company stock valued at $616,629. 5.79% of the stock is owned by company insiders.

A number of large investors have recently added to or reduced their stakes in the business. Norges Bank bought a new stake in Bandwidth during the 4th quarter valued at about $15,654,000. Vident Investment Advisory LLC increased its stake in Bandwidth by 15.7% during the 4th quarter. Vident Investment Advisory LLC now owns 11,354 shares of the company’s stock valued at $815,000 after purchasing an additional 1,539 shares in the last quarter. Deutsche Bank AG increased its stake in Bandwidth by 21.5% during the 4th quarter. Deutsche Bank AG now owns 78,904 shares of the company’s stock valued at $5,661,000 after purchasing an additional 13,944 shares in the last quarter. California State Teachers Retirement System increased its stake in Bandwidth by 3.0% during the 4th quarter. California State Teachers Retirement System now owns 31,194 shares of the company’s stock valued at $2,238,000 after purchasing an additional 919 shares in the last quarter. Finally, Parametric Portfolio Associates LLC boosted its holdings in shares of Bandwidth by 128.3% during the 4th quarter. Parametric Portfolio Associates LLC now owns 67,101 shares of the company’s stock valued at $4,815,000 after acquiring an additional 37,707 shares during the last quarter.

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.

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Earnings History and Estimates for Bandwidth (NASDAQ:BAND)

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