Bandwidth (BAND) Set to Announce Earnings on Tuesday

Bandwidth (NASDAQ:BAND) will be issuing its quarterly earnings data before the market opens on Tuesday, May 7th. Analysts expect the company to announce earnings of $0.21 per share for the quarter. Bandwidth has set its FY 2024 guidance at EPS and its Q1 2024 guidance at EPS.Persons interested in listening to the company’s earnings conference call can do so using this link.

Bandwidth (NASDAQ:BAND) last issued its earnings results on Wednesday, February 28th. The company reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.01). The firm had revenue of $165.00 million for the quarter, compared to analyst estimates of $154.17 million. Bandwidth had a negative return on equity of 3.10% and a negative net margin of 2.72%. Bandwidth’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.04 earnings per share. On average, analysts expect Bandwidth to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Bandwidth Stock Down 1.1 %

Shares of NASDAQ:BAND traded down $0.20 during midday trading on Tuesday, reaching $18.09. The company had a trading volume of 31,420 shares, compared to its average volume of 336,508. The company has a debt-to-equity ratio of 1.41, a current ratio of 2.06 and a quick ratio of 2.06. Bandwidth has a 52-week low of $9.34 and a 52-week high of $21.68. The company’s 50 day moving average price is $17.71 and its 200 day moving average price is $14.46.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Canaccord Genuity Group boosted their price target on shares of Bandwidth from $36.00 to $38.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. KeyCorp boosted their target price on Bandwidth from $16.00 to $21.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. Finally, Barclays raised their price target on Bandwidth from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Thursday, February 29th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Bandwidth presently has an average rating of “Moderate Buy” and a consensus target price of $19.71.

Insider Buying and Selling at Bandwidth

In other news, COO Anthony Bartolo sold 7,798 shares of the stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $18.75, for a total transaction of $146,212.50. Following the transaction, the chief operating officer now directly owns 76,469 shares in the company, valued at approximately $1,433,793.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 12,556 shares of company stock worth $239,567 over the last 90 days. Corporate insiders own 6.20% 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.