Bandwidth Inc (BAND) Expected to Post Quarterly Sales of $47.98 Million

Analysts forecast that Bandwidth Inc (NASDAQ:BAND) will post sales of $47.98 million for the current quarter, Zacks reports. Two analysts have provided estimates for Bandwidth’s earnings, with the lowest sales estimate coming in at $47.94 million and the highest estimate coming in at $48.02 million. Bandwidth reported sales of $41.34 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 16.1%. The company is expected to issue its next quarterly earnings results on Wednesday, December 12th.

On average, analysts expect that Bandwidth will report full-year sales of $198.39 million for the current year, with estimates ranging from $198.21 million to $198.56 million. For the next fiscal year, analysts forecast that the business will post sales of $222.24 million per share, with estimates ranging from $219.43 million to $226.08 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Bandwidth.

Bandwidth (NASDAQ:BAND) last announced its earnings results on Tuesday, July 31st. The company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.32. The business had revenue of $48.30 million for the quarter, compared to the consensus estimate of $45.30 million. Bandwidth had a net margin of 9.58% and a return on equity of 13.25%.

A number of equities research analysts recently weighed in on BAND shares. Canaccord Genuity raised their target price on shares of Bandwidth from $30.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, May 3rd. Morgan Stanley increased their price target on shares of Bandwidth from $28.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, May 3rd. Finally, KeyCorp reiterated a “buy” rating on shares of Bandwidth in a research report on Wednesday, May 2nd. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $38.00.

In other news, Director Henry R. Kaestner sold 19,199 shares of the firm’s stock in a transaction that occurred on Thursday, August 23rd. The shares were sold at an average price of $45.04, for a total value of $864,722.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Carmichael Bandwidth Llc sold 593,000 shares of the firm’s stock in a transaction that occurred on Monday, June 11th. The stock was sold at an average price of $38.50, for a total transaction of $22,830,500.00. The disclosure for this sale can be found here. Insiders have sold 1,224,211 shares of company stock worth $48,816,344 over the last quarter. Company insiders own 48.62% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Citadel Advisors LLC bought a new position in shares of Bandwidth in the second quarter worth approximately $213,000. Barclays PLC bought a new position in shares of Bandwidth in the first quarter worth approximately $262,000. Northern Trust Corp bought a new position in shares of Bandwidth in the first quarter worth approximately $263,000. Wedbush Securities Inc. bought a new position in shares of Bandwidth in the first quarter worth approximately $269,000. Finally, Jane Street Group LLC bought a new position in shares of Bandwidth in the second quarter worth approximately $381,000. Hedge funds and other institutional investors own 29.95% of the company’s stock.

BAND traded down $0.01 on Wednesday, reaching $45.12. The company had a trading volume of 144,900 shares, compared to its average volume of 125,113. The company has a market capitalization of $849.93 million and a P/E ratio of 92.10. Bandwidth has a 52-week low of $18.05 and a 52-week high of $45.78.

Bandwidth Company Profile

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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