Bandwidth (BAND) Updates Q1 2019 Earnings Guidance

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.

In other news, General Counsel W. Christopher Matton sold 5,000 shares of Bandwidth stock in a transaction on Tuesday, February 5th. The stock was sold at an average price of $48.00, for a total value of $240,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO David A. Morken sold 126,008 shares of Bandwidth stock in a transaction on Tuesday, January 8th. The shares were sold at an average price of $41.67, for a total value of $5,250,753.36. The disclosure for this sale can be found here. Insiders have sold 377,500 shares of company stock valued at $15,776,139 in the last three months. 48.62% of the stock is currently owned by company insiders.

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About Bandwidth

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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