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Research analysts at Jefferies Group upped their price target on shares of BroadSoft (NASDAQ:BSFT) from $29.00 to $33.25 in a report released on Tuesday. The firm currently has a “buy” rating on the stock. Jefferies Group’s price objective would suggest a potential upside of 37.06% from the stock’s previous close.

Shares of BroadSoft (NASDAQ:BSFT) traded up 0.75% during mid-day trading on Tuesday, hitting $24.26. The stock had a trading volume of 427,392 shares. BroadSoft has a 1-year low of $18.88 and a 1-year high of $37.93. The stock has a 50-day moving average of $24.38 and a 200-day moving average of $25.85. The company’s market cap is $693.4 million.

BroadSoft (NASDAQ:BSFT) last announced its earnings results on Monday, August 4th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.07. The company had revenue of $52.50 million for the quarter, compared to the consensus estimate of $49.45 million. During the same quarter in the previous year, the company posted $0.32 earnings per share. The company’s revenue for the quarter was up 19.3% on a year-over-year basis. On average, analysts predict that BroadSoft will post $1.28 earnings per share for the current fiscal year.

Separately, analysts at TheStreet downgraded shares of BroadSoft from a “hold” rating to a “sell” rating in a research note on Friday, May 9th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the stock. BroadSoft currently has a consensus rating of “Hold” and an average price target of $29.63.

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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