Bandwidth (BAND) Set to Announce Quarterly Earnings on Tuesday

Bandwidth (NASDAQ:BAND) is scheduled to be announcing 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.Individual interested in participating in the company’s earnings conference call can do so using this link.

Bandwidth (NASDAQ:BAND) last posted its quarterly earnings results on Wednesday, February 28th. The company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.01). The business had revenue of $165.00 million during the quarter, compared to analysts’ expectations of $154.17 million. Bandwidth had a negative return on equity of 3.10% and a negative net margin of 2.72%. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.04 EPS. 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 2.1 %

Shares of NASDAQ:BAND opened at $19.26 on Monday. Bandwidth has a 1 year low of $9.34 and a 1 year high of $21.68. The stock’s fifty day moving average price is $18.20 and its 200-day moving average price is $14.69. The company has a market cap of $505.96 million, a P/E ratio of -18.34 and a beta of 1.44. The company has a debt-to-equity ratio of 1.41, a current ratio of 2.06 and a quick ratio of 2.06.

Analyst Ratings Changes

A number of research firms recently commented on BAND. Canaccord Genuity Group upped their price objective on Bandwidth from $36.00 to $38.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. Barclays boosted their price target on Bandwidth from $20.00 to $22.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. Finally, KeyCorp increased their price objective on shares of Bandwidth from $16.00 to $21.00 and gave the stock an “overweight” rating in a research note on Thursday, February 29th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $20.50.

Insider Activity at Bandwidth

In other Bandwidth news, COO Anthony Bartolo sold 7,798 shares of the business’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $18.75, for a total transaction of $146,212.50. Following the completion of the sale, the chief operating officer now owns 76,469 shares of the company’s stock, valued at $1,433,793.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders have sold 12,556 shares of company stock worth $239,567. Corporate insiders own 6.20% of the company’s stock.

Bandwidth Company Profile

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.