Wall Street analysts expect that Bandwidth Inc. (NASDAQ:BAND) will report $96.61 million in sales for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Bandwidth’s earnings, with estimates ranging from $96.48 million to $96.75 million. Bandwidth posted sales of $62.00 million in the same quarter last year, which would indicate a positive year over year growth rate of 55.8%. The company is scheduled to announce its next earnings report on Thursday, February 18th.
On average, analysts expect that Bandwidth will report full-year sales of $326.74 million for the current year, with estimates ranging from $326.50 million to $327.00 million. For the next year, analysts forecast that the business will post sales of $462.27 million, with estimates ranging from $448.32 million to $484.00 million. Zacks’ sales calculations are an average based on a survey of analysts that cover Bandwidth.
Several research firms have commented on BAND. Zacks Investment Research raised Bandwidth from a “sell” rating to a “hold” rating and set a $206.00 price objective on the stock in a research report on Thursday, October 15th. JPMorgan Chase & Co. raised their price objective on Bandwidth from $170.00 to $190.00 and gave the company an “overweight” rating in a research report on Tuesday, October 13th. JMP Securities raised their price objective on Bandwidth from $180.00 to $206.00 and gave the company an “outperform” rating in a research report on Tuesday, October 13th. Needham & Company LLC raised their price objective on Bandwidth from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, October 13th. Finally, TheStreet raised Bandwidth from a “d” rating to a “c-” rating in a research report on Monday, November 9th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $183.78.
In related news, General Counsel W. Christopher Matton sold 275 shares of Bandwidth stock in a transaction dated Monday, January 4th. The stock was sold at an average price of $157.45, for a total value of $43,298.75. Following the completion of the transaction, the general counsel now directly owns 10,523 shares in the company, valued at $1,656,846.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David A. Morken sold 70,131 shares of Bandwidth stock in a transaction dated Wednesday, December 23rd. The stock was sold at an average price of $179.00, for a total value of $12,553,449.00. Following the completion of the transaction, the chief executive officer now owns 70,958 shares of the company’s stock, valued at $12,701,482. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 249,473 shares of company stock worth $40,818,100. Corporate insiders own 11.05% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Sei Investments Co. grew its stake in Bandwidth by 33.1% in the third quarter. Sei Investments Co. now owns 30,770 shares of the company’s stock worth $5,371,000 after purchasing an additional 7,648 shares in the last quarter. Victory Capital Management Inc. grew its stake in Bandwidth by 8.5% in the fourth quarter. Victory Capital Management Inc. now owns 1,145,523 shares of the company’s stock worth $176,033,000 after purchasing an additional 90,098 shares in the last quarter. NN Investment Partners Holdings N.V. grew its stake in Bandwidth by 14,461.4% in the third quarter. NN Investment Partners Holdings N.V. now owns 8,300 shares of the company’s stock worth $1,449,000 after purchasing an additional 8,243 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. grew its stake in Bandwidth by 104.9% in the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 7,540 shares of the company’s stock worth $1,316,000 after purchasing an additional 3,860 shares in the last quarter. Finally, Mackay Shields LLC acquired a new position in Bandwidth in the third quarter worth about $1,082,000. Institutional investors and hedge funds own 86.75% of the company’s stock.
Shares of Bandwidth stock opened at $185.00 on Friday. Bandwidth has a twelve month low of $50.89 and a twelve month high of $198.60. The stock has a market capitalization of $4.60 billion, a P/E ratio of -171.29 and a beta of 0.59. The company has a current ratio of 10.21, a quick ratio of 10.21 and a debt-to-equity ratio of 0.89. The business’s fifty day moving average price is $167.39 and its 200 day moving average price is $160.32.
Bandwidth Inc operates as a cloud-based software-powered communications platform-as-a-service (CPaaS) provider in the United States. The company operates in 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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