Bandwidth (NASDAQ:BAND – Get Rating) updated its FY 2022 earnings guidance on Wednesday. The company provided EPS guidance of $0.030-$0.090 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.760. The company issued revenue guidance of $547 million-$555 million, compared to the consensus revenue estimate of $569.20 million.Bandwidth also updated its Q1 2022 guidance to $-0.110-$-0.070 EPS.
Several brokerages have issued reports on BAND. Canaccord Genuity Group dropped their target price on Bandwidth from $150.00 to $86.00 and set a buy rating for the company in a report on Thursday, February 24th. Robert W. Baird lowered their price target on Bandwidth from $200.00 to $48.00 in a report on Thursday, February 24th. Colliers Securities reissued a buy rating and set a $75.00 target price on shares of Bandwidth in a research note on Thursday, February 24th. Citigroup decreased their target price on Bandwidth from $57.00 to $44.00 and set a neutral rating on the stock in a research note on Thursday, February 24th. Finally, Needham & Company LLC reduced their price target on Bandwidth from $130.00 to $45.00 and set a buy rating on the stock in a research report on Friday, February 25th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Buy and an average price target of $88.07.
BAND opened at $26.17 on Friday. Bandwidth has a 12-month low of $26.13 and a 12-month high of $145.97. The company has a quick ratio of 4.42, a current ratio of 4.42 and a debt-to-equity ratio of 1.18. The firm has a market capitalization of $659.69 million, a P/E ratio of -23.79 and a beta of 0.71. The stock has a fifty day moving average of $53.43 and a 200-day moving average of $74.81.
Bandwidth (NASDAQ:BAND – Get Rating) last posted its earnings results on Tuesday, February 22nd. The company reported $0.09 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.13) by $0.22. Bandwidth had a negative net margin of 5.57% and a positive return on equity of 2.80%. The firm had revenue of $126.00 million for the quarter, compared to the consensus estimate of $118.18 million. During the same period in the prior year, the business posted $0.06 earnings per share. The business’s quarterly revenue was up 11.5% on a year-over-year basis. On average, analysts expect that Bandwidth will post -0.42 earnings per share for the current fiscal year.
In related news, General Counsel Richard Brandon Asbill purchased 3,000 shares of the firm’s stock in a transaction that occurred on Monday, February 28th. The shares were acquired at an average price of $30.78 per share, for a total transaction of $92,340.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Gabriela Gonzalez sold 864 shares of the stock in a transaction that occurred on Monday, January 3rd. The stock was sold at an average price of $72.66, for a total transaction of $62,778.24. The disclosure for this sale can be found here. In the last quarter, insiders bought 21,135 shares of company stock valued at $616,629 and sold 2,107 shares valued at $133,239. Insiders own 11.05% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Allstate Corp lifted its position in shares of Bandwidth by 65.5% during the fourth quarter. Allstate Corp now owns 8,199 shares of the company’s stock valued at $588,000 after purchasing an additional 3,246 shares in the last quarter. Glenmede Trust Co. NA grew its stake in Bandwidth by 4.1% during the fourth quarter. Glenmede Trust Co. NA now owns 10,224 shares of the company’s stock valued at $733,000 after acquiring an additional 403 shares in the last quarter. Vident Investment Advisory LLC lifted its position in Bandwidth by 15.7% during the fourth quarter. Vident Investment Advisory LLC now owns 11,354 shares of the company’s stock valued at $815,000 after purchasing an additional 1,539 shares during the last quarter. UBS Group AG lifted its holdings in shares of Bandwidth by 204.3% in the 3rd quarter. UBS Group AG now owns 13,077 shares of the company’s stock worth $1,181,000 after acquiring an additional 8,780 shares during the last quarter. Finally, Legal & General Group Plc lifted its holdings in shares of Bandwidth by 0.8% in the 4th quarter. Legal & General Group Plc now owns 20,330 shares of the company’s stock worth $1,459,000 after acquiring an additional 165 shares during the last quarter. Institutional investors own 99.14% of the company’s stock.
About Bandwidth (Get Rating)
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.
Featured Stories
Want More Great Investing Ideas?
Receive News & Ratings for Bandwidth Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Bandwidth and related companies with MarketBeat.com’s FREE daily email newsletter.