BroadSoft Receives Average Rating of “Buy” from Analysts (NASDAQ:BSFT)
Shares of BroadSoft (NASDAQ:BSFT) have been given a consensus recommendation of “Buy” by the sixteen brokerages that are currently covering the company, AnalystRatings.Net reports. One research analyst has rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $29.47.
Several analysts have recently commented on the stock. Analysts at Zacks upgraded shares of BroadSoft from a “neutral” rating to an “outperform” rating in a research note on Wednesday. They now have a $27.30 price target on the stock. Separately, analysts at Deutsche Bank reiterated a “hold” rating on shares of BroadSoft in a research note on Tuesday. They now have a $22.00 price target on the stock, up previously from $20.00. Finally, analysts at Needham & Company LLC raised their price target on shares of BroadSoft from $28.00 to $29.00 in a research note on Tuesday. They now have a “buy” rating on the stock.
Shares of BroadSoft (NASDAQ:BSFT) opened at 23.66 on Tuesday. 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 $24.24 and its 200-day moving average is $25.78. The company’s market cap is $678.5 million.
BroadSoft (NASDAQ:BSFT) last released its earnings data on Monday, August 4th. The company reported $0.31 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.32 earnings per share. BroadSoft’s revenue was up 19.3% compared to the same quarter last year. Analysts expect that BroadSoft will post $1.26 EPS 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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