Bandwidth (BAND) Set to Announce Quarterly Earnings on Thursday

Bandwidth (NASDAQ:BAND - Get Free Report) is scheduled to release its earnings data before the market opens on Thursday, October 31st. Analysts expect Bandwidth to post 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 interested in participating in the company's conference call can do so using this link.

Bandwidth (NASDAQ:BAND - Get Free Report) last issued its earnings results on Thursday, August 1st. The company reported $0.29 earnings per share for the quarter, topping analysts' consensus estimates of $0.28 by $0.01. The business had revenue of $174.00 million during the quarter, compared to analyst estimates of $173.18 million. Bandwidth had a negative return on equity of 1.89% and a negative net margin of 3.21%. Bandwidth's revenue was up 19.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.09) EPS. On average, analysts expect Bandwidth to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Bandwidth Stock Performance

Shares of NASDAQ BAND traded down $0.16 during trading on Thursday, reaching $17.69. 241,078 shares of the company traded hands, compared to its average volume of 311,527. The firm has a 50 day simple moving average of $17.28 and a 200-day simple moving average of $18.23. Bandwidth has a 52-week low of $9.34 and a 52-week high of $25.02. The stock has a market capitalization of $477.77 million, a PE ratio of -15.79 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.

Insiders Place Their Bets

In other news, CFO Daryl Raiford sold 4,350 shares of Bandwidth stock in a transaction dated 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 directly owns 71,546 shares of the company's stock, valued at $1,214,135.62. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 8,525 shares of company stock worth $146,548 over the last quarter. 6.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Barclays cut their target price on shares of Bandwidth from $28.00 to $25.00 and set an "overweight" rating for the company in a research report on Friday, August 2nd. Robert W. Baird reduced their price objective on Bandwidth from $25.00 to $19.00 and set a "neutral" rating for the company in a research report on Friday, August 2nd. JMP Securities reissued a "market outperform" rating and issued a $36.00 target price on shares of Bandwidth in a research report on Tuesday, August 27th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Bandwidth in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Bandwidth currently has a consensus rating of "Hold" and a consensus price target of $25.71.

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.