BroadSoft Upgraded to Outperform by Cowen and Company (BSFT)
BroadSoft (NASDAQ:BSFT) was upgraded by analysts at Cowen and Company from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Tuesday, TheFlyOnTheWall.com reports. The firm currently has a $27.00 target price on the stock. Cowen and Company’s price objective suggests a potential upside of 32.61% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at Raymond James upgraded shares of BroadSoft from a “market perform” rating to an “outperform” rating in a research note on Tuesday. They now have a $24.00 price target on the stock. Separately, analysts at Goldman Sachs raised their price target on shares of BroadSoft from $33.00 to $36.00 in a research note on Wednesday, March 12th. They now have a “buy” rating on the stock. Finally, analysts at Needham & Company LLC raised their price target on shares of BroadSoft from $33.00 to $36.00 in a research note on Monday, March 3rd. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $29.08.
Shares of BroadSoft (NASDAQ:BSFT) traded up 0.99% on Tuesday, hitting $20.36. 1,281,535 shares of the company’s stock traded hands. BroadSoft has a 52-week low of $18.88 and a 52-week high of $37.93. The stock’s 50-day moving average is $25.91 and its 200-day moving average is $27.79. The company’s market cap is $578.0 million.
BroadSoft (NASDAQ:BSFT) last announced its earnings results on Monday, May 5th. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by $0.03. The company had revenue of $43.90 million for the quarter, compared to the consensus estimate of $44.84 million. During the same quarter in the previous year, the company posted $0.18 earnings per share. The company’s revenue for the quarter was up 10.9% on a year-over-year basis. On average, analysts predict that BroadSoft will post $1.33 earnings per share for the current fiscal year.
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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