Bandwidth (BAND) Set to Announce Quarterly Earnings on Thursday

Bandwidth (NASDAQ:BAND) will be releasing its earnings data before the market opens on Thursday, October 31st. Analysts expect Bandwidth to post earnings of $0.34 per share for the quarter. Bandwidth has set its FY 2024 guidance at EPS and its Q3 2024 guidance at EPS.Persons that wish to register for the company’s earnings conference call can do so using this link.

Bandwidth (NASDAQ:BAND) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.28 by $0.01. Bandwidth had a negative return on equity of 1.89% and a negative net margin of 3.21%. The business had revenue of $174.00 million for the quarter, compared to analysts’ expectations of $173.18 million. During the same quarter in the previous year, the firm posted ($0.09) earnings per share. The company’s revenue was up 19.2% compared to the same quarter last year. 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 5.0 %

NASDAQ BAND opened at $17.85 on Thursday. The company has a market capitalization of $482.09 million, a price-to-earnings ratio of -15.94 and a beta of 1.51. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.16 and a quick ratio of 1.16. Bandwidth has a 12 month low of $9.34 and a 12 month high of $25.02. The company’s fifty day moving average price is $17.25 and its two-hundred day moving average price is $18.23.

Insider Activity at Bandwidth

In other Bandwidth news, CFO Daryl Raiford sold 4,350 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $16.97, for a total value of $73,819.50. Following the transaction, the chief financial officer now owns 71,546 shares in the company, valued at $1,214,135.62. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last 90 days, insiders sold 8,525 shares of company stock valued at $146,548. Insiders own 6.20% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the company. JMP Securities reaffirmed a “market outperform” rating and set a $36.00 target price on shares of Bandwidth in a report on Tuesday, August 27th. Needham & Company LLC restated a “hold” rating on shares of Bandwidth in a research note on Friday, August 2nd. Barclays decreased their target price on Bandwidth from $28.00 to $25.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Finally, Robert W. Baird reduced their price objective on Bandwidth from $25.00 to $19.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, Bandwidth currently has a consensus rating of “Hold” and an average target price of $25.71.

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.