Bandwidth (BAND) to Release Quarterly Earnings on Thursday

Bandwidth (NASDAQ:BAND) will announce its earnings results before the market opens on Thursday, October 31st. Analysts expect the company to announce 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.Parties that wish to register for the company’s conference call can do so using this link.

Bandwidth (NASDAQ:BAND) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.01. The company had revenue of $174.00 million for the quarter, compared to the consensus estimate of $173.18 million. Bandwidth had a negative net margin of 3.21% and a negative return on equity of 1.89%. The company’s revenue for the quarter was up 19.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.09) earnings per share. On average, analysts expect Bandwidth to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Bandwidth Trading Up 2.3 %

BAND stock opened at $18.30 on Tuesday. Bandwidth has a 52 week low of $9.54 and a 52 week high of $25.02. The company has a market cap of $499.55 million, a price-to-earnings ratio of -16.34 and a beta of 1.51. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.91. The business has a fifty day simple moving average of $17.32 and a 200-day simple moving average of $18.24.

Insider Transactions at Bandwidth

In related news, CFO Daryl Raiford sold 4,350 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $16.97, for a total transaction of $73,819.50. Following the sale, the chief financial officer now owns 71,546 shares in the company, valued at $1,214,135.62. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last three months, insiders have sold 8,525 shares of company stock worth $146,548. 6.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts recently commented on the stock. JMP Securities restated a “market outperform” rating and issued a $36.00 price target on shares of Bandwidth in a report on Tuesday, August 27th. Robert W. Baird lowered their price target on shares of Bandwidth from $25.00 to $19.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Barclays dropped their price target on shares of Bandwidth from $28.00 to $25.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Finally, Needham & Company LLC reissued a “hold” rating on shares of Bandwidth in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target 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.