FY2024 EPS Estimates for Bandwidth Lifted by Zacks Research

Bandwidth Inc. (NASDAQ:BAND) – Stock analysts at Zacks Research raised their FY2024 earnings per share (EPS) estimates for Bandwidth in a report issued on Thursday, February 13th. Zacks Research analyst R. Department now anticipates that the company will post earnings of $0.05 per share for the year, up from their prior forecast of $0.04. The consensus estimate for Bandwidth’s current full-year earnings is $0.08 per share. Zacks Research also issued estimates for Bandwidth’s Q4 2024 earnings at $0.03 EPS, Q1 2025 earnings at $0.00 EPS and FY2025 earnings at $0.12 EPS.

A number of other analysts have also recently weighed in on BAND. Robert W. Baird boosted their price target on Bandwidth from $19.00 to $22.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Needham & Company LLC reaffirmed a “hold” rating on shares of Bandwidth in a research report on Friday, November 1st. Finally, Morgan Stanley boosted their price target on Bandwidth from $17.00 to $18.00 and gave the stock an “underweight” rating in a research report on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Bandwidth currently has a consensus rating of “Hold” and an average price target of $28.83.

Bandwidth Price Performance

Shares of NASDAQ:BAND opened at $18.71 on Monday. Bandwidth has a fifty-two week low of $11.90 and a fifty-two week high of $25.02. The business has a 50-day moving average of $17.61 and a two-hundred day moving average of $17.78. The stock has a market capitalization of $514.71 million, a P/E ratio of -20.12 and a beta of 1.54. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.29 and a quick ratio of 1.29.

Insider Buying and Selling at Bandwidth

In other news, CEO David A. Morken sold 2,777 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $17.39, for a total value of $48,292.03. Following the sale, the chief executive officer now directly owns 109,783 shares in the company, valued at approximately $1,909,126.37. This represents a 2.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Daryl Raiford sold 4,371 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $20.70, for a total value of $90,479.70. Following the sale, the chief financial officer now owns 93,451 shares in the company, valued at approximately $1,934,435.70. This trade represents a 4.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 51,417 shares of company stock valued at $1,063,184 in the last quarter. Corporate insiders own 6.20% of the company’s stock.

Institutional Investors Weigh In On Bandwidth

A number of large investors have recently bought and sold shares of the business. Covestor Ltd acquired a new position in Bandwidth during the 4th quarter worth $25,000. nVerses Capital LLC lifted its holdings in Bandwidth by 80.0% during the 3rd quarter. nVerses Capital LLC now owns 1,800 shares of the company’s stock worth $32,000 after buying an additional 800 shares in the last quarter. Quarry LP lifted its holdings in Bandwidth by 157.6% during the 3rd quarter. Quarry LP now owns 2,035 shares of the company’s stock worth $36,000 after buying an additional 1,245 shares in the last quarter. New Age Alpha Advisors LLC acquired a new position in Bandwidth during the 4th quarter worth $50,000. Finally, SBI Securities Co. Ltd. acquired a new position in Bandwidth during the 4th quarter worth $69,000. 68.53% of the stock is currently owned by institutional investors.

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.