BroadSoft, Inc. (NASDAQ:BSFT)‘s stock had its “hold” rating reiterated by stock analysts at Northland Securities in a note issued to investors on Sunday. They presently have a $42.00 price objective on the software maker’s stock. Northland Securities’ price target points to a potential downside of 23.15% from the company’s previous close.
A number of other brokerages have also recently issued reports on BSFT. William Blair reissued a “buy” rating on shares of BroadSoft in a research note on Wednesday, August 9th. Cowen and Company reissued a “buy” rating and issued a $51.00 price objective on shares of BroadSoft in a research note on Friday, July 28th. Jefferies Group LLC reissued a “buy” rating and issued a $55.00 price objective on shares of BroadSoft in a research note on Tuesday, July 25th. Zacks Investment Research raised shares of BroadSoft from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a research note on Tuesday, October 17th. Finally, Needham & Company LLC increased their price objective 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. Ten research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. BroadSoft currently has an average rating of “Hold” and a consensus target price of $50.40.
Shares of BroadSoft (BSFT) opened at $54.65 on Friday. BroadSoft has a twelve month low of $33.85 and a twelve month high of $55.00. The company has a market cap of $1,730.00, a P/E ratio of 156.29, a price-to-earnings-growth ratio of 4.28 and a beta of 0.96. The company has a current ratio of 2.64, a quick ratio of 2.64 and a debt-to-equity ratio of 0.41.
Several large investors have recently modified their holdings of the stock. Cornerstone Capital Management Holdings LLC. bought a new position in BroadSoft during the third quarter valued at $130,000. Eqis Capital Management Inc. bought a new position in BroadSoft during the third quarter valued at $208,000. Pitcairn Co. bought a new position in BroadSoft during the second quarter valued at $222,000. US Bancorp DE lifted its position in BroadSoft by 9.6% during the second quarter. US Bancorp DE now owns 6,595 shares of the software maker’s stock valued at $284,000 after purchasing an additional 579 shares during the last quarter. Finally, Wrapmanager Inc. bought a new position in BroadSoft during the second quarter valued at $300,000.
BroadSoft Company Profile
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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