Zacks: Brokerages Anticipate Bandwidth Inc (BAND) Will Post Quarterly Sales of $41.61 Million

Equities research analysts expect that Bandwidth Inc (NASDAQ:BAND) will post sales of $41.61 million for the current quarter, according to Zacks. Two analysts have issued estimates for Bandwidth’s earnings, with the highest sales estimate coming in at $41.65 million and the lowest estimate coming in at $41.56 million. The firm is scheduled to announce its next quarterly earnings report after the market closes on Wednesday, February 21st.

According to Zacks, analysts expect that Bandwidth will report full-year sales of $41.61 million for the current financial year, with estimates ranging from $162.05 million to $162.17 million. For the next fiscal year, analysts expect that the firm will post sales of $181.51 million per share, with estimates ranging from $180.15 million to $182.66 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that that provide coverage for Bandwidth.

Bandwidth (NASDAQ:BAND) last issued its earnings results on Wednesday, December 13th. The company reported $0.12 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.06.

Several brokerages recently weighed in on BAND. Morgan Stanley began coverage on shares of Bandwidth in a report on Tuesday, December 5th. They issued an “overweight” rating and a $28.00 target price on the stock. Canaccord Genuity began coverage on shares of Bandwidth in a report on Tuesday, December 5th. They issued a “buy” rating and a $28.00 target price on the stock. JMP Securities began coverage on shares of Bandwidth in a report on Tuesday, December 5th. They issued an “outperform” rating and a $36.00 target price on the stock. KeyCorp began coverage on shares of Bandwidth in a report on Tuesday, December 5th. They issued an “overweight” rating and a $29.00 target price on the stock. Finally, Robert W. Baird began coverage on shares of Bandwidth in a report on Tuesday, December 5th. They issued an “outperform” rating and a $28.00 target price on the stock. Five research analysts have rated the stock with a buy rating, The company has a consensus rating of “Buy” and an average target price of $29.80.

In other Bandwidth news, major shareholder James A. Bowen sold 158,526 shares of the firm’s stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $18.60, for a total transaction of $2,948,583.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

A number of hedge funds have recently added to or reduced their stakes in the business. Spark Investment Management LLC acquired a new stake in Bandwidth during the fourth quarter worth approximately $436,000. Virtu Financial LLC acquired a new stake in Bandwidth during the fourth quarter worth approximately $277,000. Royce & Associates LP acquired a new stake in Bandwidth during the fourth quarter worth approximately $1,050,000. Penn Capital Management Co. Inc. acquired a new stake in Bandwidth during the fourth quarter worth approximately $1,830,000. Finally, BlackRock Inc. acquired a new stake in Bandwidth during the fourth quarter worth approximately $7,514,000. 0.59% of the stock is currently owned by institutional investors.

Shares of Bandwidth (NASDAQ BAND) opened at $21.35 on Tuesday. The firm has a market cap of $376.22 and a P/E ratio of 26.04. Bandwidth has a 1-year low of $18.05 and a 1-year high of $24.99. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of -2.45.

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Bandwidth Company Profile

Bandwidth Inc, formerly Bandwidth.com, Inc, is a cloud-based communications platform-as-a-service provider (CPaaS) that enables enterprises to create, scale and operate voice or text communications services across any mobile application or connected device or enterprises. The Company has two operating and reportable segments, CPaaS and Other.

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