Wall Street brokerages forecast that Bandwidth Inc (NASDAQ:BAND) will post ($0.23) earnings per share for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Bandwidth’s earnings. The highest EPS estimate is ($0.16) and the lowest is ($0.28). Bandwidth posted earnings of $0.11 per share in the same quarter last year, which would indicate a negative year over year growth rate of 309.1%. The company is scheduled to announce its next earnings report after the market closes on Thursday, May 2nd.

On average, analysts expect that Bandwidth will report full-year earnings of ($0.67) per share for the current year, with EPS estimates ranging from ($0.69) to ($0.63). For the next year, analysts anticipate that the firm will report earnings of ($0.46) per share, with EPS estimates ranging from ($0.52) to ($0.27). Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Bandwidth.

Bandwidth (NASDAQ:BAND) last posted its quarterly earnings results on Wednesday, February 13th. The company reported ($0.04) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.29) by $0.25. Bandwidth had a net margin of 8.78% and a return on equity of 2.14%. The firm had revenue of $52.34 million for the quarter, compared to analysts’ expectations of $49.37 million. During the same quarter in the prior year, the company posted $0.09 earnings per share. The business’s revenue for the quarter was up 23.2% on a year-over-year basis.

A number of equities research analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Bandwidth from a “sell” rating to a “hold” rating in a report on Thursday, April 4th. Canaccord Genuity raised their target price on shares of Bandwidth from $60.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. Robert W. Baird raised their target price on shares of Bandwidth from $60.00 to $80.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. KeyCorp raised their target price on shares of Bandwidth from $64.00 to $75.00 and gave the stock an “overweight” rating in a report on Monday, March 25th. Finally, ValuEngine upgraded shares of Bandwidth from a “hold” rating to a “buy” rating in a report on Wednesday, January 2nd. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $65.67.

Shares of NASDAQ:BAND traded up $0.12 during trading on Friday, reaching $67.92. 94,219 shares of the stock traded hands, compared to its average volume of 166,948. Bandwidth has a 52-week low of $27.75 and a 52-week high of $72.48. The stock has a market cap of $1.35 billion, a price-to-earnings ratio of 219.10 and a beta of 0.80.

In related news, General Counsel W. Christopher Matton sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 5th. The shares were sold at an average price of $48.00, for a total value of $240,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Jeffrey A. Hoffman sold 5,445 shares of the firm’s stock in a transaction that occurred on Friday, February 22nd. The stock was sold at an average price of $53.07, for a total transaction of $288,966.15. The disclosure for this sale can be found here. Insiders sold 337,462 shares of company stock worth $21,841,976 in the last 90 days. 48.62% of the stock is currently owned by corporate insiders.

Several institutional investors have recently modified their holdings of BAND. Renaissance Technologies LLC purchased a new position in shares of Bandwidth during the 3rd quarter worth $16,834,000. Jennison Associates LLC purchased a new position in shares of Bandwidth during the 4th quarter worth $10,406,000. Bank of New York Mellon Corp boosted its stake in shares of Bandwidth by 20.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,074,273 shares of the company’s stock worth $57,549,000 after acquiring an additional 184,837 shares during the last quarter. Vanguard Group Inc boosted its stake in shares of Bandwidth by 101.4% during the 3rd quarter. Vanguard Group Inc now owns 343,435 shares of the company’s stock worth $18,398,000 after acquiring an additional 172,903 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Bandwidth by 101.4% during the 3rd quarter. Vanguard Group Inc. now owns 343,435 shares of the company’s stock worth $18,398,000 after acquiring an additional 172,903 shares during the last quarter. Institutional investors and hedge funds own 42.92% of the company’s stock.

About Bandwidth

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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