Northland Securities Reiterates “Hold” Rating for BroadSoft, Inc. (NASDAQ:BSFT)
BroadSoft, Inc. (NASDAQ:BSFT)‘s stock had its “hold” rating reiterated by equities research analysts at Northland Securities in a research report issued to clients and investors on Friday. They currently have a $42.00 target price on the software maker’s stock. Northland Securities’ price objective indicates a potential downside of 1.52% from the stock’s previous close.
BSFT has been the subject of a number of other research reports. Cowen and Company reaffirmed an “outperform” rating and issued a $51.00 price target on shares of BroadSoft in a report on Wednesday, June 28th. Robert W. Baird assumed coverage on shares of BroadSoft in a report on Tuesday, April 11th. They issued a “neutral” rating and a $44.00 price target for the company. William Blair reaffirmed a “buy” rating on shares of BroadSoft in a report on Sunday, April 9th. ValuEngine raised shares of BroadSoft from a “sell” rating to a “hold” rating in a report on Tuesday, June 27th. Finally, Wells Fargo & Company reaffirmed an “outperform” rating and issued a $50.00 price target (up previously from $46.00) on shares of BroadSoft in a report on Monday, June 19th. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. BroadSoft has an average rating of “Buy” and an average price target of $47.33.
BroadSoft (NASDAQ BSFT) traded down 0.47% on Friday, hitting $42.65. The stock had a trading volume of 126,745 shares. BroadSoft has a 52-week low of $33.85 and a 52-week high of $48.40. The firm’s market cap is $1.31 billion. The company’s 50 day moving average price is $42.49 and its 200 day moving average price is $41.05.
BroadSoft (NASDAQ:BSFT) last announced its quarterly earnings results on Monday, May 1st. The software maker reported $0.19 EPS for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.03. BroadSoft had a negative net margin of 2.36% and a positive return on equity of 5.12%. The firm had revenue of $79.70 million during the quarter, compared to the consensus estimate of $80.42 million. During the same quarter last year, the firm earned $0.37 EPS. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. Analysts expect that BroadSoft will post $2.27 EPS for the current year.
Hedge funds have recently bought and sold shares of the company. Atria Investments LLC raised its stake in BroadSoft by 3.7% in the first quarter. Atria Investments LLC now owns 6,384 shares of the software maker’s stock worth $257,000 after buying an additional 227 shares during the period. Quotient Investors LLC raised its stake in BroadSoft by 1.7% in the first quarter. Quotient Investors LLC now owns 17,600 shares of the software maker’s stock worth $708,000 after buying an additional 300 shares during the period. TD Asset Management Inc. raised its stake in BroadSoft by 2.8% in the first quarter. TD Asset Management Inc. now owns 14,500 shares of the software maker’s stock worth $583,000 after buying an additional 400 shares during the period. Tealwood Asset Management Inc. raised its stake in BroadSoft by 0.7% in the second quarter. Tealwood Asset Management Inc. now owns 66,260 shares of the software maker’s stock worth $2,852,000 after buying an additional 435 shares during the period. Finally, US Bancorp DE raised its stake in BroadSoft by 9.6% in the second quarter. US Bancorp DE now owns 6,595 shares of the software maker’s stock worth $284,000 after buying an additional 579 shares during the period.
BroadSoft Company Profile
BroadSoft, Inc is a global provider of software and services that enable telecommunications service providers to deliver hosted, cloud-based Unified Communications (UC) to their enterprise customers. The BroadSoft Business solution is a communications and collaboration offering that enables telecommunications service providers to offer businesses and other enterprises UC features and functionalities on a cloud-delivered basis without the need for traditional premise-based private branch exchange (PBX) equipment.
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