Bandwidth (NASDAQ:BAND) issued an update on its first quarter 2019 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $-0.3–0.27 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $-0.12. The company issued revenue guidance of $51-51.5 million, compared to the consensus revenue estimate of $53.06 million.Bandwidth also updated its FY 2019 guidance to $-0.74–0.64 EPS.
NASDAQ BAND traded up $1.07 during mid-day trading on Wednesday, hitting $48.54. The stock had a trading volume of 141,400 shares, compared to its average volume of 95,410. Bandwidth has a 52-week low of $20.20 and a 52-week high of $57.50. The company has a market capitalization of $950.37 million, a P/E ratio of 99.06 and a beta of 0.63.
BAND has been the subject of several research analyst reports. Canaccord Genuity raised their price objective on Bandwidth from $44.00 to $60.00 and gave the company a buy rating in a research note on Wednesday, October 31st. Morgan Stanley raised their price objective on Bandwidth from $40.00 to $44.00 and gave the company a hold rating in a research note on Wednesday, October 31st. ValuEngine raised Bandwidth from a hold rating to a buy rating in a research report on Thursday, November 1st. Finally, Zacks Investment Research downgraded Bandwidth from a strong-buy rating to a hold rating in a research report on Monday, November 5th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Bandwidth currently has a consensus rating of Buy and a consensus target price of $48.00.
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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