Bandwidth Inc. to Post Q2 2024 Earnings of $0.02 Per Share, Zacks Research Forecasts (NASDAQ:BAND)

Bandwidth Inc. (NASDAQ:BAND) – Investment analysts at Zacks Research dropped their Q2 2024 earnings per share estimates for Bandwidth in a report released on Monday, June 17th. Zacks Research analyst R. Department now expects that the company will post earnings of $0.02 per share for the quarter, down from their previous forecast of $0.05. The consensus estimate for Bandwidth’s current full-year earnings is $0.22 per share.

BAND has been the subject of several other research reports. JMP Securities increased their target price on shares of Bandwidth from $32.00 to $36.00 and gave the company a “market outperform” rating in a research note on Wednesday, May 8th. Barclays raised their price objective on shares of Bandwidth from $22.00 to $28.00 and gave the stock an “overweight” rating in a report on Wednesday, May 8th. Morgan Stanley lowered shares of Bandwidth from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $18.00 to $15.00 in a report on Friday, June 14th. Robert W. Baird lifted their target price on shares of Bandwidth from $21.00 to $25.00 and gave the stock a “neutral” rating in a report on Wednesday, May 8th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Bandwidth in a research report on Friday, May 10th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $25.63.

Bandwidth Trading Down 2.4 %

Bandwidth stock opened at $15.20 on Wednesday. The company has a debt-to-equity ratio of 1.41, a current ratio of 2.36 and a quick ratio of 2.36. Bandwidth has a one year low of $9.34 and a one year high of $25.02. The company’s fifty day moving average price is $19.47 and its two-hundred day moving average price is $16.74. The company has a market capitalization of $410.55 million, a price-to-earnings ratio of -13.57 and a beta of 1.49.

Bandwidth (NASDAQ:BAND) last announced its earnings results on Tuesday, May 7th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.08). Bandwidth had a negative return on equity of 2.49% and a negative net margin of 4.60%. The firm had revenue of $171.03 million for the quarter, compared to the consensus estimate of $165.10 million.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Ameritas Investment Partners Inc. lifted its stake in shares of Bandwidth by 31.6% in the first quarter. Ameritas Investment Partners Inc. now owns 2,355 shares of the company’s stock valued at $43,000 after buying an additional 565 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new position in shares of Bandwidth during the third quarter valued at about $75,000. Quest Partners LLC bought a new position in shares of Bandwidth during the fourth quarter valued at about $145,000. Bayesian Capital Management LP bought a new position in shares of Bandwidth during the first quarter valued at about $187,000. Finally, Resurgent Financial Advisors LLC lifted its position in shares of Bandwidth by 4.6% during the first quarter. Resurgent Financial Advisors LLC now owns 11,840 shares of the company’s stock valued at $216,000 after purchasing an additional 520 shares in the last quarter. 68.53% of the stock is owned by institutional investors.

Insider Buying and Selling at Bandwidth

In other news, CFO Daryl Raiford sold 13,410 shares of the company’s stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $20.01, for a total transaction of $268,334.10. Following the completion of the sale, the chief financial officer now owns 68,076 shares of the company’s stock, valued at approximately $1,362,200.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Bandwidth news, CFO Daryl Raiford sold 13,410 shares of the company’s stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $20.01, for a total value of $268,334.10. Following the completion of the transaction, the chief financial officer now directly owns 68,076 shares in the company, valued at approximately $1,362,200.76. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Lukas M. Roush acquired 4,963 shares of the firm’s stock in a transaction dated Friday, June 14th. The shares were purchased at an average price of $16.12 per share, with a total value of $80,003.56. Following the completion of the transaction, the director now owns 43,167 shares of the company’s stock, valued at $695,852.04. The disclosure for this purchase can be found here. Insiders sold 36,073 shares of company stock valued at $722,990 in the last quarter. Company insiders own 6.20% of the company’s stock.

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.