Equities research analysts expect Bandwidth Inc (NASDAQ:BAND) to announce sales of $58.58 million for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Bandwidth’s earnings. The highest sales estimate is $58.61 million and the lowest is $58.54 million. Bandwidth posted sales of $52.34 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 11.9%. The business is expected to report its next quarterly earnings report on Wednesday, February 12th.
On average, analysts expect that Bandwidth will report full-year sales of $229.18 million for the current fiscal year, with estimates ranging from $229.13 million to $229.22 million. For the next fiscal year, analysts anticipate that the company will post sales of $271.83 million, with estimates ranging from $271.19 million to $273.00 million. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Bandwidth.
Bandwidth (NASDAQ:BAND) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.06) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.15) by $0.09. Bandwidth had a negative return on equity of 4.52% and a net margin of 1.42%. The firm had revenue of $60.50 million for the quarter, compared to the consensus estimate of $58.78 million. During the same period in the previous year, the business earned ($0.05) earnings per share. The company’s revenue for the quarter was up 19.8% compared to the same quarter last year.
Several equities analysts recently issued reports on BAND shares. ValuEngine raised Bandwidth from a “sell” rating to a “hold” rating in a report on Tuesday, October 22nd. Morgan Stanley cut Bandwidth from an “underweight” rating to an “equal” rating in a report on Tuesday, October 22nd. Finally, Needham & Company LLC started coverage on Bandwidth in a report on Tuesday. They issued a “buy” rating and a $65.00 price target for the company. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $75.71.
BAND stock traded down $1.90 during midday trading on Friday, hitting $53.30. 242,273 shares of the stock were exchanged, compared to its average volume of 247,319. The stock’s 50-day moving average price is $55.25 and its 200-day moving average price is $70.91. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of 171.94 and a beta of 0.49. Bandwidth has a fifty-two week low of $27.75 and a fifty-two week high of $90.63.
A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in Bandwidth by 203.4% in the second quarter. BlackRock Inc. now owns 1,355,046 shares of the company’s stock valued at $101,654,000 after purchasing an additional 908,410 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Bandwidth by 11.6% in the second quarter. Bank of New York Mellon Corp now owns 1,218,849 shares of the company’s stock valued at $91,438,000 after purchasing an additional 126,250 shares during the last quarter. Vanguard Group Inc. increased its stake in Bandwidth by 25.1% in the second quarter. Vanguard Group Inc. now owns 741,455 shares of the company’s stock valued at $55,625,000 after purchasing an additional 148,865 shares during the last quarter. Victory Capital Management Inc. increased its stake in Bandwidth by 10.4% in the second quarter. Victory Capital Management Inc. now owns 577,534 shares of the company’s stock valued at $43,327,000 after purchasing an additional 54,404 shares during the last quarter. Finally, Putnam Investments LLC increased its stake in Bandwidth by 31.6% in the second quarter. Putnam Investments LLC now owns 377,670 shares of the company’s stock valued at $28,333,000 after purchasing an additional 90,633 shares during the last quarter. Hedge funds and other institutional investors own 68.25% of the company’s stock.
Bandwidth Company Profile
Bandwidth Inc operates as a cloud-based software-powered communications platform-as-a-service (CPaaS) provider 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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