Analysts predict that Bandwidth Inc (NASDAQ:BAND) will post $58.71 million in sales for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Bandwidth’s earnings, with estimates ranging from $58.61 million to $58.91 million. Bandwidth posted sales of $50.45 million in the same quarter last year, which suggests a positive year over year growth rate of 16.4%. The firm is expected to report its next quarterly earnings report on Tuesday, October 29th.

On average, analysts expect that Bandwidth will report full year sales of $235.09 million for the current financial year, with estimates ranging from $235.00 million to $235.23 million. For the next financial year, analysts anticipate that the business will report sales of $278.94 million, with estimates ranging from $273.00 million to $282.80 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover Bandwidth.

Bandwidth (NASDAQ:BAND) last released its earnings results on Wednesday, July 31st. The company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.19. Bandwidth had a negative return on equity of 4.97% and a net margin of 3.14%. The business had revenue of $56.80 million for the quarter, compared to analyst estimates of $55.06 million. During the same quarter last year, the firm posted $0.20 earnings per share. The business’s revenue was up 17.6% compared to the same quarter last year.

A number of equities analysts have recently issued reports on the company. Zacks Investment Research downgraded Bandwidth from a “buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. Morgan Stanley increased their price target on Bandwidth from $48.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 24th. ValuEngine downgraded Bandwidth from a “buy” rating to a “hold” rating in a research report on Friday, July 26th. Finally, JPMorgan Chase & Co. assumed coverage on Bandwidth in a research report on Wednesday, July 3rd. They set an “overweight” rating and a $90.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $78.67.

In related news, General Counsel W. Christopher Matton sold 62,500 shares of the firm’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $77.19, for a total transaction of $4,824,375.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Jeffrey A. Hoffman sold 10,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $85.04, for a total value of $850,400.00. The disclosure for this sale can be found here. Insiders have sold a total of 385,394 shares of company stock worth $29,053,987 in the last three months. Corporate insiders own 15.27% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. US Bancorp DE boosted its position in Bandwidth by 66.8% during the second quarter. US Bancorp DE now owns 502 shares of the company’s stock valued at $37,000 after purchasing an additional 201 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Bandwidth during the second quarter valued at about $66,000. Bank of Montreal Can bought a new stake in Bandwidth during the second quarter valued at about $103,000. Bank of America Corp DE boosted its position in Bandwidth by 92.3% during the fourth quarter. Bank of America Corp DE now owns 2,552 shares of the company’s stock valued at $104,000 after purchasing an additional 1,225 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in Bandwidth during the second quarter valued at about $300,000. 54.55% of the stock is currently owned by institutional investors.

BAND stock traded down $2.57 during midday trading on Wednesday, reaching $78.01. The company’s stock had a trading volume of 185,000 shares, compared to its average volume of 229,266. Bandwidth has a 1 year low of $27.75 and a 1 year high of $85.83. The company’s fifty day moving average price is $77.48. The stock has a market cap of $1.82 billion, a price-to-earnings ratio of 251.65 and a beta of 0.76.

Bandwidth Company Profile

Bandwidth Inc operates as a cloud-based software-powered communications platform-as-a-service (CPaaS) provider in the United States. The company operates through two segments, CPaaS and Other. Its platform enables enterprises to create, scale, and operate voice or text communications services across mobile application or connected device.

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Earnings History and Estimates for Bandwidth (NASDAQ:BAND)

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