Brokerages Anticipate BroadSoft, Inc. (BSFT) Will Announce Quarterly Sales of $87.92 Million
Wall Street analysts expect BroadSoft, Inc. (NASDAQ:BSFT) to post $87.92 million in sales for the current fiscal quarter, according to Zacks. Five analysts have made estimates for BroadSoft’s earnings, with the lowest sales estimate coming in at $87.00 million and the highest estimate coming in at $89.83 million. BroadSoft reported sales of $84.12 million in the same quarter last year, which would indicate a positive year over year growth rate of 4.5%. The firm is expected to report its next earnings results before the market opens on Monday, November 6th.
According to Zacks, analysts expect that BroadSoft will report full year sales of $87.92 million for the current year, with estimates ranging from $379.75 million to $385.20 million. For the next fiscal year, analysts forecast that the firm will post sales of $431.74 million per share, with estimates ranging from $411.93 million to $452.80 million. Zacks Investment Research’s sales calculations 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 data on Monday, August 7th. The software maker reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.53. The business had revenue of $88.80 million for the quarter, compared to analysts’ expectations of $86.63 million. BroadSoft had a positive return on equity of 4.72% and a negative net margin of 2.34%. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.49 EPS.
BSFT has been the topic of several analyst reports. Needham & Company LLC lowered shares of BroadSoft from a “buy” rating to a “hold” rating in a report on Tuesday. Zacks Investment Research lowered shares of BroadSoft from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 10th. Northland Securities reaffirmed a “hold” rating and issued a $42.00 price target on shares of BroadSoft in a report on Friday, July 21st. Barclays PLC initiated coverage on shares of BroadSoft in a report on Friday, July 7th. They issued an “equal weight” rating and a $45.00 price target on the stock. Finally, William Blair reaffirmed an “outperform” rating on shares of BroadSoft in a report on Thursday, October 5th. Eight equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. BroadSoft presently has a consensus rating of “Hold” and a consensus target price of $50.40.
BroadSoft (BSFT) opened at 54.90 on Friday. The company has a 50-day moving average price of $51.91 and a 200 day moving average price of $44.06. BroadSoft has a 52-week low of $33.85 and a 52-week high of $55.00. The company’s market capitalization is $1.70 billion.
In other news, insider Scott D. Hoffpauir sold 13,344 shares of BroadSoft stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $48.00, for a total transaction of $640,512.00. Following the completion of the sale, the insider now directly owns 114,398 shares in the company, valued at $5,491,104. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director John D. Jr. Markley sold 3,000 shares of BroadSoft stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $48.00, for a total transaction of $144,000.00. Following the sale, the director now owns 22,839 shares of the company’s stock, valued at $1,096,272. The disclosure for this sale can be found here. Insiders have sold 34,136 shares of company stock valued at $1,693,639 over the last quarter. Insiders own 1.50% of the company’s stock.
Large investors have recently bought and sold shares of the company. Eqis Capital Management Inc. acquired a new stake in shares of BroadSoft during the third quarter worth $208,000. Pitcairn Co. acquired a new position in BroadSoft during the second quarter valued at $222,000. US Bancorp DE lifted its position in BroadSoft by 9.6% during the second quarter. US Bancorp DE now owns 6,595 shares of the software maker’s stock valued at $284,000 after purchasing an additional 579 shares during the period. Wrapmanager Inc. acquired a new position in BroadSoft during the second quarter valued at $300,000. Finally, Ramsey Quantitative Systems acquired a new position in BroadSoft during the second quarter valued at $349,000.
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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