BroadSoft Inc. (BSFT) Given Consensus Recommendation of “Buy” by Brokerages
BroadSoft Inc. (NASDAQ:BSFT) has been assigned an average recommendation of “Buy” from the ten analysts that are covering the company. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, five have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $46.00.
Several equities analysts have recently commented on the company. Needham & Company LLC cut their price target on BroadSoft from $48.00 to $47.00 and set a “buy” rating on the stock in a research note on Tuesday, November 1st. Dougherty & Co lifted their target price on BroadSoft from $47.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, August 2nd. Jefferies Group lifted their target price on BroadSoft from $48.00 to $52.00 and gave the company a “buy” rating in a research note on Tuesday, August 2nd. William Blair reiterated a “buy” rating on shares of BroadSoft in a research note on Wednesday, October 26th. Finally, Raymond James Financial Inc. lifted their target price on BroadSoft from $45.00 to $51.00 and gave the company a “strong-buy” rating in a research note on Tuesday, August 2nd.
In related news, insider Dennis Dourgarian sold 2,600 shares of BroadSoft stock in a transaction dated Tuesday, September 13th. The stock was sold at an average price of $45.40, for a total transaction of $118,040.00. Following the completion of the sale, the insider now owns 30,035 shares of the company’s stock, valued at $1,363,589. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Taher G. Behbehani sold 4,010 shares of BroadSoft stock in a transaction dated Friday, October 21st. The stock was sold at an average price of $45.16, for a total value of $181,091.60. Following the sale, the insider now directly owns 56,137 shares of the company’s stock, valued at approximately $2,535,146.92. The disclosure for this sale can be found here. 1.50% of the stock is owned by company insiders.
Several large investors have recently added to or reduced their stakes in BSFT. Fiera Capital Corp purchased a new stake in BroadSoft during the second quarter worth approximately $51,478,000. Copper Rock Capital Partners LLC purchased a new stake in BroadSoft during the third quarter worth approximately $32,248,000. Rice Hall James & Associates LLC purchased a new stake in BroadSoft during the second quarter worth approximately $15,703,000. Ranger Investment Management L.P. increased its stake in BroadSoft by 144.2% in the second quarter. Ranger Investment Management L.P. now owns 466,379 shares of the company’s stock worth $19,136,000 after buying an additional 275,386 shares during the period. Finally, Marshall Wace LLP purchased a new stake in BroadSoft during the second quarter worth approximately $7,237,000.
Shares of BroadSoft (NASDAQ:BSFT) opened at 42.05 on Wednesday. BroadSoft has a 52-week low of $26.99 and a 52-week high of $48.40. The stock has a market cap of $1.27 billion, a price-to-earnings ratio of 189.41 and a beta of 1.62. The stock’s 50 day moving average is $44.48 and its 200 day moving average is $43.45.
BroadSoft (NASDAQ:BSFT) last announced its quarterly earnings results on Monday, October 31st. The company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.37 by $0.15. The firm had revenue of $84.10 million for the quarter, compared to analyst estimates of $81.26 million. BroadSoft had a return on equity of 11.32% and a net margin of 2.01%. The business’s revenue for the quarter was up 21.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.36 earnings per share. On average, equities analysts predict that BroadSoft will post $2.14 EPS for the current fiscal year.
BroadSoft, Inc is a provider of software and services that enable telecommunications service providers to deliver hosted, cloud-based Unified Communications (UC) to their enterprise customers. The Company offers service providers two deployment options, software and software-as-a-service (SaaS), to enable them to offer UC services to their enterprise customers.
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