Bandwidth (BAND) to Release Quarterly Earnings on Thursday

Bandwidth (NASDAQ:BAND) is expected to be announcing its earnings results before the market opens on Thursday, February 20th. Analysts expect the company to announce earnings of $0.38 per share and revenue of $203.68 million for the quarter. Investors that wish to register for the company’s conference call can do so using this link.

Bandwidth Stock Down 4.6 %

Bandwidth stock opened at $18.71 on Tuesday. The firm has a market cap of $514.71 million, a price-to-earnings ratio of -20.12 and a beta of 1.54. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.29 and a quick ratio of 1.29. Bandwidth has a fifty-two week low of $11.90 and a fifty-two week high of $25.02. The firm has a fifty day moving average price of $17.58 and a two-hundred day moving average price of $17.80.

Insider Activity

In other news, CEO David A. Morken sold 15,410 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $21.26, for a total transaction of $327,616.60. Following the completion of the transaction, the chief executive officer now owns 101,821 shares of the company’s stock, valued at approximately $2,164,714.46. This represents a 13.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Daryl Raiford sold 10,389 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $21.26, for a total transaction of $220,870.14. Following the transaction, the chief financial officer now directly owns 87,220 shares of the company’s stock, valued at $1,854,297.20. This represents a 10.64 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 51,417 shares of company stock valued at $1,063,184. Insiders own 6.20% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.