Bandwidth (NASDAQ:BAND) issued an update on its fourth quarter earnings guidance on Wednesday morning. The company provided earnings per share guidance of $0.00 to $0.01 for the period, compared to the Thomson Reuters consensus earnings per share estimate of ($0.02). The company issued revenue guidance of $41.4-41.9 million, compared to the consensus revenue estimate of $41.46 million.
Shares of Bandwidth (NASDAQ BAND) traded down $0.40 during mid-day trading on Wednesday, reaching $20.25. The company’s stock had a trading volume of 103,200 shares, compared to its average volume of 160,033. Bandwidth has a 12-month low of $18.05 and a 12-month high of $24.79.
Several analysts have weighed in on BAND shares. Robert W. Baird started coverage on Bandwidth in a research report on Tuesday, December 5th. They issued an outperform rating and a $28.00 price objective for the company. KeyCorp started coverage on Bandwidth in a research report on Tuesday, December 5th. They issued an overweight rating and a $29.00 price objective for the company. JMP Securities started coverage on Bandwidth in a research report on Tuesday, December 5th. They issued an outperform rating and a $36.00 price objective for the company. Canaccord Genuity assumed coverage on Bandwidth in a research report on Tuesday, December 5th. They issued a buy rating and a $28.00 price objective for the company. Finally, Morgan Stanley assumed coverage on Bandwidth in a research note on Tuesday, December 5th. They set an overweight rating and a $28.00 target price on the stock. Five investment analysts have rated the stock with a buy rating, The company has a consensus rating of Buy and a consensus target price of $29.80.
In related news, major shareholder James A. Bowen sold 158,526 shares of the company’s stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $18.60, for a total value of $2,948,583.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
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Bandwidth Inc, formerly Bandwidth.com, Inc, is a cloud-based communications platform-as-a-service provider (CPaaS) that enables enterprises to create, scale and operate voice or text communications services across any mobile application or connected device or enterprises. The Company has two operating and reportable segments, CPaaS and Other.
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