Wells Fargo & Co. Reiterates Hold Rating for BroadSoft (BSFT)
BroadSoft (NASDAQ:BSFT)‘s stock had its “hold” rating reaffirmed by research analysts at Wells Fargo & Co. in a report released on Tuesday, Stock Ratings News reports. They currently have a $33.00 price target on the stock. Wells Fargo & Co.’s price objective points to a potential downside of 3.54% from the stock’s previous close.
Shares of BroadSoft (NASDAQ:BSFT) traded down 4.33% on Tuesday, hitting $34.21. The stock had a trading volume of 498,939 shares. BroadSoft has a 52-week low of $20.45 and a 52-week high of $39.59. The stock has a 50-day moving average of $35.04 and a 200-day moving average of $29.82. The company has a market cap of $961.8 million and a P/E ratio of 372.50.
BroadSoft (NASDAQ:BSFT) last released its earnings data on Monday, August 5th. The company reported $0.32 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.22 by $0.10. The company had revenue of $44.00 million for the quarter, compared to the consensus estimate of $42.81 million. During the same quarter last year, the company posted $0.33 earnings per share. BroadSoft’s revenue was up 8.6% compared to the same quarter last year. Analysts expect that BroadSoft will post $1.31 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on BSFT. Analysts at Wedbush raised their price target on shares of BroadSoft from $30.00 to $35.00 in a research note to investors on Tuesday. They now have a “neutral” rating on the stock. Finally, analysts at Deutsche Bank raised their price target on shares of BroadSoft from $25.00 to $28.00 in a research note to investors on Wednesday, August 7th. They now have a “hold” rating on the stock. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. BroadSoft has a consensus rating of “Hold” and an average price target of $34.80.
BroadSoft, Inc (NASDAQ:BSFT) is a 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.
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