Broadsoft Coverage Initiated by Analysts at Deutsche Bank. (BSFT)
Deutsche Bank started coverage on shares of Broadsoft (NASDAQ: BSFT) in a research note issued on Monday, TheFlyOnTheWall.com reports. The firm set a “hold” rating on the stock.
The analysts wrote, “BroadSoft is a ‘Software Platform’; longer-term a ‘SaaS’ model, for enabling service providers to deliver VoIP and UC services via Hosted and Cloud delivery models. While we are constructive longer-term on the Hosted and Cloud Services themes – a +$10B long-tail opportunity; our proprietary research notes: 1) softness in consumer and enterprise VoIP ordering patterns; 2) VoLTE (mobile VoIP) not likely to be a next-phase growth opp (BroadSoft’s mostly an Enterprise play); 3) slower than expected BroadCloud ramp; 4) growing competition from Cisco, ALU, etc – basis for our initiation with a Hold rating. Our PT is $24 on below consensus FY13/14 estimates.”
A number of other firms have also recently commented on BSFT. Analysts at Northland Securities downgraded shares of Broadsoft from an “outperform” rating to a “market perform” rating in a research note to investors on Monday. Separately, analysts at Raymond James upgraded shares of Broadsoft from an “underperform” rating to a “market perform” rating in a research note to investors on Tuesday, March 26th. Finally, analysts at Pacific Crest cut their price target on shares of Broadsoft from $38.00 to $36.00 in a research note to investors on Thursday, February 28th.
Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $34.71.
Broadsoft (NASDAQ: BSFT) traded up 4.77% on Monday, hitting $27.24. Broadsoft has a 52-week low of $20.13 and a 52-week high of $45.32. The stock’s 50-day moving average is currently $25.43. The company has a market cap of $762.2 million and a price-to-earnings ratio of 60.47.
Broadsoft (NASDAQ: BSFT) last issued its quarterly earnings data on Wednesday, February 27th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.06. The company had revenue of $45.80 million for the quarter, compared to the consensus estimate of $45.79 million. During the same quarter in the previous year, the company posted $0.38 earnings per share. The company’s revenue for the quarter was up 12.8% on a year-over-year basis. Broadsoft has set its Q1 guidance at $0.02-0.12 EPS and its FY13 guidance at $1.10-1.35 EPS. Analysts expect that Broadsoft will post $1.23 EPS for the current fiscal year.
BroadSoft, Inc. (NASDAQ: BSFT) is a global provider of software and services that enable mobile, fixed-line and cable service providers to deliver unified communications (UC) and other voice and multimedia services over their Internet protocol-based (IP-based) networks.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.