BroadSoft, Inc. (BSFT) Expected to Announce Quarterly Sales of $86.42 Million
Equities analysts expect BroadSoft, Inc. (NASDAQ:BSFT) to report sales of $86.42 million for the current quarter, Zacks reports. Eight analysts have issued estimates for BroadSoft’s earnings, with the highest sales estimate coming in at $87.28 million and the lowest estimate coming in at $85.34 million. BroadSoft reported sales of $81.72 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 5.8%. The company is scheduled to announce its next earnings results before the market opens on Monday, August 7th.
On average, analysts expect that BroadSoft will report full-year sales of $86.42 million for the current financial year, with estimates ranging from $376.68 million to $388.30 million. For the next year, analysts expect that the company will report sales of $435.61 million per share, with estimates ranging from $423.04 million to $452.80 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for BroadSoft.
BroadSoft (NASDAQ:BSFT) last released its quarterly earnings results on Monday, May 1st. The software maker reported $0.19 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $80.42 million. During the same period in the previous year, the company earned $0.37 EPS. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year.
Several analysts recently weighed in on BSFT shares. Wells Fargo & Company reaffirmed an “outperform” rating and issued a $50.00 target price (up previously from $46.00) on shares of BroadSoft in a report on Monday, June 19th. William Blair reaffirmed a “buy” rating on shares of BroadSoft in a report on Thursday, May 4th. Robert W. Baird started coverage on shares of BroadSoft in a report on Tuesday, April 11th. They issued a “neutral” rating and a $44.00 target price on the stock. Dougherty & Co reduced their target price on shares of BroadSoft from $50.00 to $44.00 and set a “buy” rating on the stock in a report on Tuesday, May 2nd. Finally, Cowen and Company reduced their target price on shares of BroadSoft from $54.00 to $51.00 and set an “outperform” rating on the stock in a report on Tuesday, May 2nd. Five research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. BroadSoft has an average rating of “Buy” and a consensus price target of $47.33.
A number of hedge funds have recently added to or reduced their stakes in BSFT. Ameritas Investment Partners Inc. bought a new stake in BroadSoft during the first quarter worth $102,000. Koch Industries Inc. bought a new stake in BroadSoft during the first quarter worth $220,000. Fox Run Management L.L.C. bought a new stake in BroadSoft during the first quarter worth $225,000. Wealthsource Partners LLC boosted its stake in BroadSoft by 13.2% in the first quarter. Wealthsource Partners LLC now owns 6,285 shares of the software maker’s stock worth $253,000 after buying an additional 735 shares during the last quarter. Finally, Atria Investments LLC boosted 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 last quarter.
BroadSoft (NASDAQ BSFT) traded up 0.80% during trading on Thursday, hitting $43.90. 7,889 shares of the company were exchanged. BroadSoft has a 12 month low of $33.85 and a 12 month high of $48.40. The stock’s 50-day moving average is $42.68 and its 200-day moving average is $41.08. The company’s market capitalization is $1.35 billion.
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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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