Bandwidth (NASDAQ:BAND) Issues Earnings Results, Beats Estimates By $0.11 EPS

Bandwidth (NASDAQ:BAND) posted its quarterly earnings results on Thursday. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.32 by $0.11, Briefing.com reports. Bandwidth had a negative net margin of 3.21% and a negative return on equity of 1.89%. The company had revenue of $193.90 million during the quarter, compared to analysts’ expectations of $182.05 million. During the same quarter in the previous year, the business posted $0.03 EPS. The firm’s revenue was up 27.6% on a year-over-year basis. Bandwidth updated its FY 2024 guidance to EPS and its Q4 2024 guidance to EPS.

Bandwidth Stock Performance

NASDAQ BAND opened at $18.70 on Friday. The stock has a market capitalization of $510.47 million, a price-to-earnings ratio of -20.11 and a beta of 1.51. The business’s 50 day moving average is $17.50 and its two-hundred day moving average is $18.29. Bandwidth has a 12-month low of $10.22 and a 12-month high of $25.02. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.91.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on BAND. Needham & Company LLC reaffirmed a “hold” rating on shares of Bandwidth in a research report on Friday. Robert W. Baird raised their price target on Bandwidth from $19.00 to $22.00 and gave the stock a “neutral” rating in a research note on Friday. Barclays cut their target price on shares of Bandwidth from $28.00 to $25.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Finally, JMP Securities reissued a “market outperform” rating and set a $36.00 price objective on shares of Bandwidth in a research report on Tuesday, August 27th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Bandwidth has an average rating of “Hold” and a consensus target price of $26.14.

Insider Activity

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

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.