BroadSoft (BSFT) Receiving Somewhat Positive Press Coverage, Study Shows
News stories about BroadSoft (NASDAQ:BSFT) have trended somewhat positive on Monday, Accern reports. Accern identifies positive and negative press coverage by reviewing more than 20 million blog and news sources. Accern ranks coverage of public companies on a scale of -1 to 1, with scores closest to one being the most favorable. BroadSoft earned a news sentiment score of 0.16 on Accern’s scale. Accern also assigned news headlines about the software maker an impact score of 44.3749608842972 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the near term.
These are some of the headlines that may have impacted Accern Sentiment Analysis’s scoring:
- Wolf Pack Descends on BroadSoft (finance.yahoo.com)
- BroadSoft, Inc. (NASDAQ:BSFT) Stock Closed Above Its 50 Day Average (highlightpress.com)
- Analyzing BroadSoft (BSFT) & Convergys Corporation (CVG) (americanbankingnews.com)
- Insider Selling: BroadSoft Inc (BSFT) Insider Sells 8,896 Shares of Stock (americanbankingnews.com)
- Needham & Company LLC Raises BroadSoft, Inc. (BSFT) Price Target to $55.00 (americanbankingnews.com)
BroadSoft (BSFT) traded up 1.31% during midday trading on Monday, reaching $50.15. 169,502 shares of the company’s stock were exchanged. The firm’s 50 day moving average is $44.85 and its 200 day moving average is $41.56. BroadSoft has a 52 week low of $33.85 and a 52 week high of $50.33. The firm’s market capitalization is $1.56 billion.
BroadSoft (NASDAQ:BSFT) last announced its earnings results on Monday, August 7th. The software maker reported $0.40 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.13) by $0.53. The business had revenue of $88.80 million during the quarter, compared to the consensus estimate of $86.63 million. BroadSoft had a positive return on equity of 4.72% and a negative net margin of 2.34%. The business’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.49 EPS. On average, equities analysts anticipate that BroadSoft will post $2.27 earnings per share for the current year.
A number of equities research analysts have commented on BSFT shares. BidaskClub cut shares of BroadSoft from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 5th. Jefferies Group LLC restated a “buy” rating and set a $55.00 target price on shares of BroadSoft in a research note on Monday, June 26th. Cowen and Company restated a “buy” rating and set a $51.00 target price on shares of BroadSoft in a research note on Friday, July 28th. William Blair restated a “buy” rating on shares of BroadSoft in a research note on Wednesday, August 9th. Finally, Needham & Company LLC raised their target price on shares of BroadSoft from $48.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, September 6th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $48.38.
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In related news, insider Scott D. Hoffpauir sold 8,896 shares of the firm’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $50.00, for a total transaction of $444,800.00. Following the completion of the transaction, the insider now directly owns 105,502 shares in the company, valued at approximately $5,275,100. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John D. Jr. Markley sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $48.00, for a total value of $144,000.00. Following the transaction, the director now owns 22,839 shares of the company’s stock, valued at $1,096,272. The disclosure for this sale can be found here. Insiders sold a total of 25,240 shares of company stock valued at $1,229,312 over the last ninety days. Corporate insiders own 1.50% of the company’s stock.
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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