Wall Street analysts expect Bandwidth Inc (NASDAQ:BAND) to post $70.44 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Bandwidth’s earnings. The highest sales estimate is $70.60 million and the lowest is $70.24 million. Bandwidth reported sales of $56.78 million during the same quarter last year, which indicates a positive year over year growth rate of 24.1%. The company is scheduled to announce its next quarterly earnings results on Wednesday, July 29th.
On average, analysts expect that Bandwidth will report full year sales of $282.21 million for the current financial year, with estimates ranging from $281.66 million to $282.50 million. For the next fiscal year, analysts forecast that the company will post sales of $325.98 million, with estimates ranging from $317.41 million to $333.70 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Bandwidth.
Bandwidth (NASDAQ:BAND) last posted its earnings results on Thursday, April 30th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.15. Bandwidth had a negative net margin of 0.22% and a negative return on equity of 2.67%. The business had revenue of $68.50 million for the quarter, compared to analyst estimates of $63.29 million. During the same period last year, the business posted ($0.12) EPS. Bandwidth’s revenue was up 28.5% compared to the same quarter last year.
In other news, Director John C. Murdock sold 29,036 shares of Bandwidth stock in a transaction dated Thursday, April 16th. The shares were sold at an average price of $76.48, for a total transaction of $2,220,673.28. Following the sale, the director now directly owns 179,592 shares in the company, valued at approximately $13,735,196.16. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Gabriela Gonzalez sold 440 shares of Bandwidth stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $100.00, for a total transaction of $44,000.00. Following the sale, the vice president now owns 7,187 shares in the company, valued at $718,700. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 178,571 shares of company stock worth $20,045,318. 11.05% of the stock is owned by company insiders.
A number of hedge funds have recently made changes to their positions in the stock. State Street Corp lifted its holdings in Bandwidth by 6.0% during the 1st quarter. State Street Corp now owns 371,601 shares of the company’s stock valued at $25,005,000 after purchasing an additional 20,934 shares during the last quarter. Clearbridge Investments LLC lifted its holdings in Bandwidth by 40.6% during the 1st quarter. Clearbridge Investments LLC now owns 762,320 shares of the company’s stock valued at $51,297,000 after purchasing an additional 220,201 shares during the last quarter. Fred Alger Management LLC bought a new position in Bandwidth during the 1st quarter valued at about $14,489,000. Soros Fund Management LLC bought a new position in Bandwidth during the 1st quarter valued at about $229,000. Finally, Advisor Group Holdings Inc. bought a new position in Bandwidth during the 1st quarter valued at about $1,075,000. 84.68% of the stock is owned by hedge funds and other institutional investors.
NASDAQ:BAND traded up $1.45 during midday trading on Monday, reaching $125.82. The stock had a trading volume of 174,800 shares, compared to its average volume of 380,705. Bandwidth has a 1-year low of $42.61 and a 1-year high of $130.84. The firm’s fifty day simple moving average is $114.44 and its 200-day simple moving average is $80.51. The company has a debt-to-equity ratio of 0.82, a current ratio of 12.89 and a quick ratio of 12.89. The stock has a market capitalization of $2.99 billion, a P/E ratio of -6,199.50 and a beta of 0.78.
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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