Zacks: Brokerages Anticipate Bandwidth Inc. (NASDAQ:BAND) Will Post Earnings of -$0.14 Per Share

Wall Street brokerages forecast that Bandwidth Inc. (NASDAQ:BAND) will announce earnings per share (EPS) of ($0.14) for the current quarter, Zacks reports. Four analysts have made estimates for Bandwidth’s earnings. The lowest EPS estimate is ($0.15) and the highest is ($0.11). Bandwidth reported earnings of $0.13 per share during the same quarter last year, which would indicate a negative year over year growth rate of 207.7%. The firm is expected to announce its next earnings results on Thursday, February 24th.

According to Zacks, analysts expect that Bandwidth will report full-year earnings of $0.75 per share for the current year, with EPS estimates ranging from $0.73 to $0.77. For the next fiscal year, analysts anticipate that the company will post earnings of $0.72 per share, with EPS estimates ranging from $0.40 to $1.15. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that follow Bandwidth.

Bandwidth (NASDAQ:BAND) last posted its quarterly earnings results on Monday, November 8th. The company reported $0.25 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.17. Bandwidth had a positive return on equity of 3.11% and a negative net margin of 8.19%. The business had revenue of $130.64 million during the quarter, compared to the consensus estimate of $126.08 million. During the same period in the prior year, the company posted $0.14 EPS. The firm’s revenue for the quarter was up 54.1% compared to the same quarter last year.

A number of equities analysts have recently issued reports on the company. Needham & Company LLC dropped their price target on Bandwidth from $155.00 to $130.00 and set a “buy” rating on the stock in a research report on Tuesday, November 9th. Barclays started coverage on Bandwidth in a research report on Wednesday, October 20th. They set an “overweight” rating and a $160.00 price target on the stock. Piper Sandler raised Bandwidth from a “neutral” rating to an “overweight” rating and set a $102.00 price objective on the stock in a research report on Wednesday. Robert W. Baird dropped their price objective on Bandwidth from $180.00 to $140.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 27th. Finally, dropped their price objective on Bandwidth from $210.00 to $150.00 and set a “buy” rating on the stock in a research report on Tuesday, November 9th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Bandwidth currently has a consensus rating of “Buy” and an average target price of $141.60.

Shares of BAND opened at $67.95 on Wednesday. The business’s 50 day simple moving average is $71.50 and its 200-day simple moving average is $97.32. The company has a quick ratio of 3.95, a current ratio of 3.95 and a debt-to-equity ratio of 1.12. Bandwidth has a 1 year low of $60.13 and a 1 year high of $196.70.

In other news, VP Gabriela Gonzalez sold 864 shares of Bandwidth stock in a transaction that occurred on Monday, January 3rd. The stock was sold at an average price of $72.66, for a total value of $62,778.24. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Lukas M. Roush sold 584 shares of Bandwidth stock in a transaction that occurred on Monday, November 22nd. The stock was sold at an average price of $67.74, for a total value of $39,560.16. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,025 shares of company stock worth $145,820. 11.05% of the stock is owned by corporate insiders.

Several hedge funds have recently bought and sold shares of the stock. Balyasny Asset Management LLC acquired a new stake in shares of Bandwidth in the 3rd quarter valued at about $315,000. Schonfeld Strategic Advisors LLC raised its stake in shares of Bandwidth by 260.0% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 5,400 shares of the company’s stock worth $487,000 after buying an additional 3,900 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in shares of Bandwidth in the 3rd quarter worth approximately $1,932,000. Thrivent Financial for Lutherans grew its holdings in shares of Bandwidth by 10.3% in the 3rd quarter. Thrivent Financial for Lutherans now owns 447,295 shares of the company’s stock worth $40,382,000 after acquiring an additional 41,821 shares during the period. Finally, TownSquare Capital LLC grew its holdings in Bandwidth by 116.9% during the 3rd quarter. TownSquare Capital LLC now owns 3,573 shares of the company’s stock valued at $323,000 after buying an additional 1,926 shares during the last quarter. Hedge funds and other institutional investors own 96.50% of the company’s stock.

Bandwidth Company Profile

Bandwidth is a leading enterprise cloud communications company. Companies like Cisco, Google, Microsoft, RingCentral, Uber, and Zoom use Bandwidth’s APIs to easily embed voice, messaging, and emergency services into software and applications. Bandwidth is the first and only CPaaS provider offering a robust selection of communications APIs built around their own IP voice network.

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Earnings History and Estimates for Bandwidth (NASDAQ:BAND)

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