Brokerages expect that Bandwidth Inc (NASDAQ:BAND) will report ($0.20) earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Bandwidth’s earnings, with the lowest EPS estimate coming in at ($0.21) and the highest estimate coming in at ($0.19). Bandwidth posted earnings of $0.15 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 233.3%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, December 12th.
According to Zacks, analysts expect that Bandwidth will report full year earnings of $0.09 per share for the current financial year, with EPS estimates ranging from $0.07 to $0.11. For the next fiscal year, analysts forecast that the company will report earnings of ($0.53) per share, with EPS estimates ranging from ($0.83) to ($0.14). Zacks’ EPS calculations are a mean average based on a survey of analysts that that provide coverage for Bandwidth.
Bandwidth (NASDAQ:BAND) last announced its quarterly earnings results on Tuesday, July 31st. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.32. The company had revenue of $48.30 million during the quarter, compared to analysts’ expectations of $45.30 million. Bandwidth had a return on equity of 13.25% and a net margin of 9.58%.
BAND has been the subject of several recent research reports. KeyCorp reiterated an “overweight” rating and set a $64.00 price target on shares of Bandwidth in a research report on Monday, September 3rd. Morgan Stanley cut Bandwidth from an “overweight” rating to an “equal weight” rating and set a $40.00 price target for the company. in a research report on Monday, July 2nd. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Bandwidth presently has an average rating of “Buy” and an average target price of $41.67.
In related news, CFO Jeffrey A. Hoffman sold 45,000 shares of Bandwidth stock in a transaction that occurred on Wednesday, August 8th. The stock was sold at an average price of $43.21, for a total transaction of $1,944,450.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Jeffrey A. Hoffman sold 16,508 shares of Bandwidth stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $46.53, for a total value of $768,117.24. The disclosure for this sale can be found here. In the last quarter, insiders have sold 667,733 shares of company stock worth $27,660,681. 48.62% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in BAND. Gilder Gagnon Howe & Co. LLC lifted its position in Bandwidth by 539.6% during the second quarter. Gilder Gagnon Howe & Co. LLC now owns 479,811 shares of the company’s stock worth $18,223,000 after buying an additional 404,793 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Bandwidth by 48.1% during the second quarter. Bank of New York Mellon Corp now owns 889,436 shares of the company’s stock worth $33,780,000 after buying an additional 288,730 shares in the last quarter. Portolan Capital Management LLC purchased a new position in Bandwidth during the second quarter worth approximately $8,680,000. Laurion Capital Management LP purchased a new position in Bandwidth during the second quarter worth approximately $7,273,000. Finally, KAMES CAPITAL plc purchased a new position in Bandwidth during the second quarter worth approximately $6,790,000. Hedge funds and other institutional investors own 29.95% of the company’s stock.
BAND stock traded up $0.49 during trading on Thursday, hitting $54.56. 116,300 shares of the company traded hands, compared to its average volume of 125,794. The stock has a market cap of $996.08 million and a P/E ratio of 109.65. Bandwidth has a 1 year low of $18.05 and a 1 year high of $55.32.
Bandwidth Inc operates as a cloud-based software-powered communications platform-as-a-service (CPaaS) provides 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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