FY2024 EPS Estimates for Bandwidth Raised by Zacks Research

Bandwidth Inc. (NASDAQ:BAND) – Stock analysts at Zacks Research upped their FY2024 EPS estimates for Bandwidth in a research report issued to clients and investors on Thursday, February 13th. Zacks Research analyst R. Department now anticipates that the company will earn $0.05 per share for the year, up from their previous forecast of $0.04. The consensus estimate for Bandwidth’s current full-year earnings is $0.08 per share. Zacks Research also issued estimates for Bandwidth’s Q4 2024 earnings at $0.03 EPS, Q1 2025 earnings at $0.00 EPS and FY2025 earnings at $0.12 EPS.

Other research analysts have also recently issued reports about the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Bandwidth in a report on Friday, November 1st. Morgan Stanley increased their target price on shares of Bandwidth from $17.00 to $18.00 and gave the company an “underweight” rating in a report on Wednesday, December 18th. Finally, Robert W. Baird increased their target price on shares of Bandwidth from $19.00 to $22.00 and gave the company a “neutral” rating in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Bandwidth presently has a consensus rating of “Hold” and an average target price of $28.83.

Bandwidth Trading Up 0.2 %

Shares of Bandwidth stock opened at $18.74 on Monday. Bandwidth has a 12-month low of $11.90 and a 12-month high of $25.02. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.83. The stock has a market cap of $515.54 million, a PE ratio of -20.15 and a beta of 1.54. The company has a 50-day moving average of $17.58 and a two-hundred day moving average of $17.80.

Institutional Trading of Bandwidth

A number of hedge funds have recently bought and sold shares of BAND. Covestor Ltd acquired a new stake in Bandwidth during the fourth quarter worth approximately $25,000. nVerses Capital LLC boosted its holdings in shares of Bandwidth by 80.0% in the 3rd quarter. nVerses Capital LLC now owns 1,800 shares of the company’s stock valued at $32,000 after purchasing an additional 800 shares during the last quarter. Quarry LP boosted its holdings in shares of Bandwidth by 157.6% in the 3rd quarter. Quarry LP now owns 2,035 shares of the company’s stock valued at $36,000 after purchasing an additional 1,245 shares during the last quarter. New Age Alpha Advisors LLC acquired a new position in shares of Bandwidth in the 4th quarter valued at $50,000. Finally, SBI Securities Co. Ltd. acquired a new position in shares of Bandwidth in the 4th quarter valued at $69,000. Institutional investors and hedge funds own 68.53% of the company’s stock.

Insider Transactions at Bandwidth

In related news, CEO David A. Morken sold 15,410 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $21.26, for a total transaction of $327,616.60. Following the sale, the chief executive officer now owns 101,821 shares in the company, valued at approximately $2,164,714.46. This trade represents a 13.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Daryl Raiford sold 10,389 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $21.26, for a total transaction of $220,870.14. Following the sale, the chief financial officer now owns 87,220 shares in the company, valued at approximately $1,854,297.20. This trade represents a 10.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 51,417 shares of company stock valued at $1,063,184 in the last ninety days. Corporate insiders own 6.20% of the company’s stock.

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.