BroadSoft, Inc. (BSFT) Posts Earnings Results, Beats Estimates By $0.11 EPS
BroadSoft, Inc. (NASDAQ:BSFT) announced its quarterly earnings data on Monday. The software maker reported $0.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.11, Bloomberg Earnings reports. The business had revenue of $88.80 million during the quarter, compared to analysts’ expectations of $86.63 million. BroadSoft had a positive return on equity of 5.12% and a negative net margin of 2.36%. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.49 earnings per share. BroadSoft updated its Q3 guidance to $0.23-0.40 EPS and its FY17 guidance to $2.20-2.50 EPS.
Shares of BroadSoft (NASDAQ:BSFT) traded up 3.04% during trading on Monday, hitting $44.05. The stock had a trading volume of 252,757 shares. The firm has a 50 day moving average price of $42.89 and a 200 day moving average price of $41.10. BroadSoft has a 12-month low of $33.85 and a 12-month high of $48.40. The firm’s market cap is $1.35 billion.
BSFT has been the subject of a number of recent research reports. William Blair restated a “buy” rating on shares of BroadSoft in a research note on Thursday, May 4th. Dougherty & Co decreased their price target on BroadSoft from $50.00 to $44.00 and set a “buy” rating for the company in a research note on Tuesday, May 2nd. Needham & Company LLC decreased their price target on BroadSoft from $48.00 to $44.00 and set a “buy” rating for the company in a research note on Tuesday, May 2nd. Jefferies Group LLC restated a “buy” rating and issued a $55.00 price target on shares of BroadSoft in a research note on Monday, June 26th. Finally, BidaskClub cut BroadSoft from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 5th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. BroadSoft currently has a consensus rating of “Buy” and an average price target of $46.88.
A number of large investors have recently bought and sold shares of the company. Ameritas Investment Partners Inc. acquired a new position in BroadSoft during the first quarter worth $102,000. Pitcairn Co. acquired a new position in BroadSoft during the second quarter worth $222,000. Koch Industries Inc. acquired a new position in BroadSoft during the first quarter worth $220,000. Fox Run Management L.L.C. acquired a new position in BroadSoft during the first quarter worth $225,000. Finally, Wealthsource Partners LLC raised its position 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 period.
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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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