BroadSoft, Inc. (NASDAQ:BSFT)‘s stock had its “buy” rating reiterated by William Blair in a note issued to investors on Wednesday, August 9th. William Blair also issued estimates for BroadSoft’s Q3 2017 earnings at ($0.05) EPS, Q4 2017 earnings at $1.09 EPS, FY2017 earnings at $0.92 EPS and Q4 2018 earnings at $0.64 EPS.
Several other research firms have also issued reports on BSFT. Dougherty & Co lowered their price target on shares of BroadSoft from $50.00 to $44.00 and set a “buy” rating on the stock in a research report on Tuesday, May 2nd. Needham & Company LLC lowered their price target on shares of BroadSoft from $48.00 to $44.00 and set a “buy” rating on the stock in a research report on Tuesday, May 2nd. BidaskClub lowered shares of BroadSoft from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 5th. Jefferies Group LLC reissued a “buy” rating and issued a $55.00 price target on shares of BroadSoft in a research report on Monday, June 26th. Finally, Cowen and Company lowered their price target on shares of BroadSoft from $54.00 to $51.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 2nd. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $47.00.
BroadSoft (BSFT) traded down 0.45% during trading on Wednesday, hitting $44.25. The stock had a trading volume of 312,306 shares. BroadSoft has a 12-month low of $33.85 and a 12-month high of $48.40. The company’s market capitalization is $1.37 billion. The stock has a 50 day moving average price of $43.37 and a 200 day moving average price of $41.27.
BroadSoft (NASDAQ:BSFT) last posted its quarterly earnings results on Monday, August 7th. The software maker reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.53. BroadSoft had a negative net margin of 2.34% and a positive return on equity of 4.72%. The company had revenue of $88.80 million for the quarter, compared to analyst estimates of $86.63 million. During the same quarter in the previous year, the firm posted $0.49 earnings per share. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. Equities research analysts forecast that BroadSoft will post $2.27 earnings per share for the current year.
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Several institutional investors have recently modified their holdings of BSFT. BlackRock Inc. raised its position in shares of BroadSoft by 86,871.0% in the first quarter. BlackRock Inc. now owns 2,208,194 shares of the software maker’s stock worth $88,770,000 after buying an additional 2,205,655 shares during the last quarter. Southpoint Capital Advisors LP acquired a new stake in shares of BroadSoft during the second quarter worth about $59,979,000. Clearbridge Investments LLC boosted its stake in shares of BroadSoft by 45.2% in the first quarter. Clearbridge Investments LLC now owns 1,868,977 shares of the software maker’s stock worth $75,133,000 after buying an additional 581,922 shares during the period. SQN Investors LP acquired a new stake in shares of BroadSoft during the second quarter worth about $16,949,000. Finally, Rubric Capital Management LP acquired a new stake in shares of BroadSoft during the second quarter worth about $16,919,000.
BroadSoft, Inc is a global provider of software and services that enable telecommunications service providers to deliver hosted, cloud-based Unified Communications (UC) to their enterprise customers. The BroadSoft Business solution is a communications and collaboration offering that enables telecommunications service providers to offer businesses and other enterprises UC features and functionalities on a cloud-delivered basis without the need for traditional premise-based private branch exchange (PBX) equipment.
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