Weekly Research Analysts’ Ratings Changes for BroadSoft (BSFT)

Several brokerages have updated their recommendations and price targets on shares of BroadSoft (NASDAQ: BSFT) in the last few weeks:

  • 10/10/2017 – BroadSoft was downgraded by analysts at Zacks Investment Research from a “strong-buy” rating to a “hold” rating. According to Zacks, “BroadSoft, Inc. is engaged in providing software that enables fixed-line, mobile and cable service providers to deliver voice and multimedia services over their Internet protocol-based, or IP-based, networks. The Company’s software, BroadWorks, enables its service provider customers to provide enterprises and consumers with a range of cloud-based, or hosted, IP multimedia communications, such as hosted IP private branch exchanges, or PBXs, video calling, unified communications, or UC, collaboration and converged mobile and fixed-line services. BroadSoft, Inc. is headquartered in Gaithersburg, Maryland. “
  • 10/9/2017 – BroadSoft was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “strong-buy” rating. They now have a $63.00 price target on the stock. According to Zacks, “BroadSoft, Inc. is engaged in providing software that enables fixed-line, mobile and cable service providers to deliver voice and multimedia services over their Internet protocol-based, or IP-based, networks. The Company’s software, BroadWorks, enables its service provider customers to provide enterprises and consumers with a range of cloud-based, or hosted, IP multimedia communications, such as hosted IP private branch exchanges, or PBXs, video calling, unified communications, or UC, collaboration and converged mobile and fixed-line services. BroadSoft, Inc. is headquartered in Gaithersburg, Maryland. “
  • 10/5/2017 – BroadSoft had its “outperform” rating reaffirmed by analysts at William Blair.
  • 10/4/2017 – BroadSoft had its “hold” rating reaffirmed by analysts at Northland Securities. They now have a $42.00 price target on the stock.
  • 9/28/2017 – BroadSoft had its “buy” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $55.00 price target on the stock.
  • 9/6/2017 – BroadSoft had its price target raised by analysts at Needham & Company LLC from $48.00 to $55.00. They now have a “buy” rating on the stock.
  • 9/1/2017 – BroadSoft was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.

BroadSoft, Inc. (NASDAQ:BSFT) remained flat at $53.55 during midday trading on Thursday. The stock had a trading volume of 280,974 shares. The stock’s market capitalization is $1.66 billion. The firm’s 50-day moving average price is $50.06 and its 200 day moving average price is $43.10. BroadSoft, Inc. has a one year low of $33.85 and a one year high of $54.70.

BroadSoft (NASDAQ:BSFT) last posted its quarterly earnings data on Monday, August 7th. The software maker reported $0.40 earnings per share (EPS) for the quarter, topping the Zacks’ 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%. BroadSoft’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period last year, the company earned $0.49 earnings per share. Analysts expect that BroadSoft, Inc. will post $2.27 EPS for the current fiscal year.

In related news, insider Scott D. Hoffpauir sold 8,896 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at $5,275,100. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Scott D. Hoffpauir sold 13,344 shares of the stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $48.00, for a total value of $640,512.00. Following the transaction, the insider now directly owns 114,398 shares of the company’s stock, valued at $5,491,104. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,688 shares of company stock valued at $1,458,384. 1.50% of the stock is owned by corporate insiders.

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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