Wall Street brokerages expect Bandwidth Inc (NASDAQ:BAND) to post earnings per share of ($0.13) for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Bandwidth’s earnings, with the lowest EPS estimate coming in at ($0.16) and the highest estimate coming in at ($0.06). Bandwidth posted earnings per share of ($0.04) in the same quarter last year, which would suggest a negative year over year growth rate of 225%. The company is scheduled to report its next quarterly earnings report on Wednesday, February 12th.
According to Zacks, analysts expect that Bandwidth will report full year earnings of ($0.34) per share for the current financial year, with EPS estimates ranging from ($0.38) to ($0.27). For the next year, analysts anticipate that the firm will report earnings of ($0.30) per share, with EPS estimates ranging from ($0.36) to ($0.23). Zacks’ EPS calculations are an average based on a survey of research firms that that provide coverage for Bandwidth.
Bandwidth (NASDAQ:BAND) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.15) by $0.09. The company had revenue of $60.50 million during the quarter, compared to analyst estimates of $58.78 million. Bandwidth had a net margin of 1.42% and a negative return on equity of 4.52%. Bandwidth’s quarterly revenue was up 19.8% compared to the same quarter last year. During the same period last year, the business earned ($0.05) EPS.
Several brokerages recently commented on BAND. Morgan Stanley downgraded shares of Bandwidth from an “underweight” rating to an “equal” rating in a research report on Tuesday, October 22nd. ValuEngine raised shares of Bandwidth from a “sell” rating to a “hold” rating in a research report on Tuesday, October 22nd. Finally, Needham & Company LLC began coverage on shares of Bandwidth in a research report on Tuesday. They set a “buy” rating and a $65.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Bandwidth currently has an average rating of “Buy” and an average price target of $75.71.
A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. grew its position in Bandwidth by 203.4% during the 2nd 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 grew its position in Bandwidth by 11.6% during the 2nd 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. grew its position in Bandwidth by 25.1% during the 2nd 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. grew its position in Bandwidth by 10.4% during the 2nd 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 grew its position in Bandwidth by 31.6% during the 2nd 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. 68.25% of the stock is currently owned by institutional investors.
BAND stock traded down $1.90 during trading on Wednesday, hitting $53.30. 242,273 shares of the stock traded hands, compared to its average volume of 247,319. Bandwidth has a 1 year low of $27.75 and a 1 year high of $90.63. The firm’s 50 day moving average is $55.25 and its two-hundred day moving average 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 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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