Research Analysts Set Expectations for Bandwidth Inc.’s Q2 2024 Earnings (NASDAQ:BAND)

Bandwidth Inc. (NASDAQ:BAND) – Zacks Research lowered their Q2 2024 earnings estimates for shares of Bandwidth in a note issued to investors on Monday, June 17th. Zacks Research analyst R. Department now anticipates that the company will post earnings per share of $0.02 for the quarter, down from their previous estimate of $0.05. The consensus estimate for Bandwidth’s current full-year earnings is $0.22 per share.

Other equities research analysts have also issued reports about the stock. Barclays raised their price objective on shares of Bandwidth from $22.00 to $28.00 and gave the stock an “overweight” rating in a report on Wednesday, May 8th. Needham & Company LLC restated a “hold” rating on shares of Bandwidth in a report on Friday, May 10th. Robert W. Baird raised their price objective on shares of Bandwidth from $21.00 to $25.00 and gave the stock a “neutral” rating in a report on Wednesday, May 8th. JMP Securities raised their price objective on shares of Bandwidth from $32.00 to $36.00 and gave the stock a “market outperform” rating in a report on Wednesday, May 8th. Finally, Morgan Stanley lowered shares of Bandwidth from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $18.00 to $15.00 in a report on Friday, June 14th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Bandwidth currently has an average rating of “Hold” and a consensus target price of $25.63.

Bandwidth Stock Down 2.4 %

Shares of NASDAQ:BAND opened at $15.20 on Wednesday. Bandwidth has a 12 month low of $9.34 and a 12 month high of $25.02. The company has a debt-to-equity ratio of 1.41, a quick ratio of 2.36 and a current ratio of 2.36. The company’s fifty day simple moving average is $19.52 and its 200 day simple moving average is $16.75.

Bandwidth (NASDAQ:BAND) last issued its quarterly earnings data on Tuesday, May 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.08). Bandwidth had a negative return on equity of 2.49% and a negative net margin of 4.60%. The company had revenue of $171.03 million for the quarter, compared to the consensus estimate of $165.10 million.

Insider Activity at Bandwidth

In other news, insider Devin M. Krupka sold 2,500 shares of Bandwidth stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $21.61, for a total value of $54,025.00. Following the completion of the transaction, the insider now owns 7,262 shares of the company’s stock, valued at approximately $156,931.82. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Devin M. Krupka sold 2,500 shares of Bandwidth stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $21.61, for a total value of $54,025.00. Following the completion of the transaction, the insider now owns 7,262 shares of the company’s stock, valued at approximately $156,931.82. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Lukas M. Roush acquired 4,963 shares of the firm’s stock in a transaction dated Friday, June 14th. The stock was purchased at an average cost of $16.12 per share, with a total value of $80,003.56. Following the transaction, the director now owns 43,167 shares in the company, valued at $695,852.04. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 36,073 shares of company stock valued at $722,990. Corporate insiders own 6.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Swiss National Bank boosted its holdings in shares of Bandwidth by 3.0% during the 3rd quarter. Swiss National Bank now owns 51,900 shares of the company’s stock worth $585,000 after buying an additional 1,500 shares during the period. DekaBank Deutsche Girozentrale bought a new stake in shares of Bandwidth during the 3rd quarter worth about $75,000. Dark Forest Capital Management LP boosted its holdings in shares of Bandwidth by 59.7% during the 3rd quarter. Dark Forest Capital Management LP now owns 52,331 shares of the company’s stock worth $590,000 after buying an additional 19,563 shares during the period. B. Riley Asset Management LLC bought a new stake in shares of Bandwidth during the 3rd quarter worth about $682,000. Finally, Vanguard Group Inc. boosted its holdings in shares of Bandwidth by 3.0% during the 3rd quarter. Vanguard Group Inc. now owns 1,480,343 shares of the company’s stock worth $16,683,000 after buying an additional 43,411 shares during the period. Institutional investors own 68.53% of the company’s stock.

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.