Bandwidth (BAND) to Release Quarterly Earnings on Tuesday

Bandwidth (NASDAQ:BAND) is set to announce its earnings results 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.Investors interested in participating in the company’s conference call can do so using this link.

Bandwidth (NASDAQ:BAND) last released its quarterly earnings data 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). Bandwidth had a negative return on equity of 3.10% and a negative net margin of 2.72%. The company had revenue of $165.00 million for the quarter, compared to analyst estimates of $154.17 million. During the same period last year, the firm posted $0.04 EPS. The business’s quarterly revenue was up 5.1% on a year-over-year basis. On average, analysts expect Bandwidth to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Bandwidth Trading Down 1.1 %

Shares of NASDAQ BAND traded down $0.20 during trading on Tuesday, hitting $18.09. 31,420 shares of the company were exchanged, compared to its average volume of 336,508. The company has a fifty day moving average price of $17.71 and a 200-day moving average price of $14.46. The company has a quick ratio of 2.06, a current ratio of 2.06 and a debt-to-equity ratio of 1.41. Bandwidth has a 12-month low of $9.34 and a 12-month high of $21.68.

Insider Activity at Bandwidth

In other news, COO Anthony Bartolo sold 7,798 shares of Bandwidth stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $18.75, for a total value of $146,212.50. Following the completion of the sale, the chief operating officer now directly owns 76,469 shares of the company’s stock, valued at $1,433,793.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In the last quarter, insiders sold 12,556 shares of company stock worth $239,567. Insiders own 6.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on BAND shares. Barclays increased their price target on shares of Bandwidth from $20.00 to $22.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. KeyCorp increased their price objective on Bandwidth from $16.00 to $21.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. Finally, Canaccord Genuity Group lifted their target price on Bandwidth from $36.00 to $38.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Bandwidth has an average rating of “Moderate Buy” and an average price target of $19.71.

About Bandwidth

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.