Shares of Bandwidth (BAND) stock recently jumped over 65% in early November 2022.
The stock Bandwidth (BAND) appeared on our October 31 2022 published forecast in the short-term time frames. The stock initially appeared in both the daily and weekly algorithmic forecasts as the number 1 stock pick in both time frames. As such, the AI system correctly predicted a huge surge of over 40% in a single day that investors would enjoy when the company outperformed expectations in its quarterly earnings report. Analysts had predicted Bandwidth would make only $0.03 per share on sales of $140.9 million going into the third quarter. In actuality, Bandwidth (BAND) generated earnings of $0.27 per share on sales of $148 million. Bandwidth (BAND) shares were up more than 40% after reporting earnings that were nine times better than expected.
"Customer demand across our full range of software solutions over-achieved our expectations while our operating leverage delivered record non-GAAP gross margin... Accordingly, we are raising our full year 2022 outlook for both revenue and non-GAAP EPS. We are well positioned to execute on our strategy of delivering business-critical services to Global 2000 enterprises with profitable growth."
Wall Street analysts concur with this statement as the average price target is $26.25, with a low of $15 and a high of $55. What is more indicative of a further bullish run is the small standard deviation between the analysts signaling mutual agreement. Whereas a favorable trend in earnings estimate revisions does not indicate how much the stock may rise, it has been useful in predicting an upswing. As of the date of this article, prices opened at $19.42. Below is the Top 5 Stock Picks + SP 500 Forecast for the weekly (7-day) time frame available to subscribers on October 31st, 2022. The AI system provides circadian forecasts in different frames by analyzing empirical evidence of financial market abnormalities connected to trader overreaction and under-reaction. There are six-time frames available every day that include daily forecasts, weekly forecasts, biweekly forecasts, monthly forecasts, quarterly forecasts, and annual forecasts. Market coverage available can increase all the way to the Top 30 + SP 500 market forecasts.
In this top 5 forecast, you can see the top five stocks and the corresponding Signal Confidence (SC). The SP 500 forecast should serve as an indicator of the direction of the market where green cells (positive prediction) or red ones (negative prediction) are. It should be noted that the Signal Confidence varies depending on the market and the time frames within the market. The primary market trends should be identified using the longer time-range projections because they are typically more predictable than the shorter ones. You will clearly be able to see that the SC increases dramatically over the longer time frames.
Let's review the results of this weekly forecast to determine the results:
Stock Ticker | Open: Oct 31, 2022 | Close: November 7th, 2022 | ROI % |
Bandwidth (BAND): | $12.17 | $20.26 | 65.65% |
McDonalds (MCD): | $273.06 | $276.41 | 1.22% |
Expedia (EXPE) | $96.66 | $89.59 | -7.31% |
22nd Century Group (XXII) | $1.34 | $1.38 | 2.98% |
Lockheed Martin (LMT) | $480.45 | $488.63 | 1.70% |
| | Average ROI% = | 12.85% |
The results are quite varied in this short-term forecast with an average return of 12.85% in the one-week time frame (Monday, October 31st, 2022 - Monday, November 7th, 2022). Four out of the five stock picks were correctly predicted, with BAND stock by far generating the most significant ROI%. Discretion should be used when analyzing the market with these stock signals. Your own due diligence is always required and you should always get advice from a licensed & certified financial counselor prior to implementing any financial plans.
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Sources:
2. Yahoo Finance, "Bandwidth Inc. (BAND) Analysis" (2022)
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