Bandwidth Inc (BAND) Expected to Announce Quarterly Sales of $49.32 Million

Wall Street analysts expect Bandwidth Inc (NASDAQ:BAND) to announce $49.32 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Bandwidth’s earnings. The lowest sales estimate is $49.30 million and the highest is $49.33 million. Bandwidth posted sales of $42.47 million in the same quarter last year, which would indicate a positive year over year growth rate of 16.1%. The business is expected to report its next earnings report after the market closes on Wednesday, February 13th.

According to Zacks, analysts expect that Bandwidth will report full year sales of $201.11 million for the current financial year, with estimates ranging from $201.07 million to $201.17 million. For the next financial year, analysts forecast that the firm will report sales of $226.02 million, with estimates ranging from $224.25 million to $228.68 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Bandwidth.

Several equities research analysts have issued reports on BAND shares. Zacks Investment Research downgraded shares of Bandwidth from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 5th. Morgan Stanley raised their price objective on shares of Bandwidth from $44.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Monday, January 7th. ValuEngine upgraded shares of Bandwidth from a “hold” rating to a “buy” rating in a research report on Wednesday, January 2nd. Finally, Canaccord Genuity raised their price objective on shares of Bandwidth from $44.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, October 31st. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $48.00.

In other news, CEO David A. Morken sold 100,841 shares of the firm’s stock in a transaction that occurred on Friday, January 4th. The shares were sold at an average price of $40.86, for a total transaction of $4,120,363.26. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel W. Christopher Matton sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 5th. The stock was sold at an average price of $48.00, for a total transaction of $240,000.00. The disclosure for this sale can be found here. Insiders have sold 377,500 shares of company stock valued at $15,776,139 over the last 90 days. Company insiders own 48.62% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in BAND. Alethea Capital Management LLC bought a new position in shares of Bandwidth during the fourth quarter worth approximately $248,000. Man Group plc bought a new position in shares of Bandwidth during the third quarter worth approximately $348,000. Jane Street Group LLC bought a new position in shares of Bandwidth during the second quarter worth approximately $381,000. Raymond James & Associates bought a new position in shares of Bandwidth during the fourth quarter worth approximately $385,000. Finally, Virtu Financial LLC bought a new position in shares of Bandwidth during the third quarter worth approximately $512,000. 39.56% of the stock is currently owned by institutional investors.

BAND stock traded down $1.64 during mid-day trading on Wednesday, hitting $47.48. 96,300 shares of the company were exchanged, compared to its average volume of 92,568. The company has a market capitalization of $950.37 million, a PE ratio of 96.90 and a beta of 0.63. Bandwidth has a 1-year low of $19.45 and a 1-year high of $57.50.

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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