Zacks: Analysts Anticipate BroadSoft Inc (BSFT) Will Post Quarterly Sales of $125.98 Million
Equities research analysts expect BroadSoft Inc (NASDAQ:BSFT) to announce sales of $125.98 million for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for BroadSoft’s earnings. The highest sales estimate is $129.80 million and the lowest is $120.03 million. BroadSoft posted sales of $101.98 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 23.5%. The business is expected to report its next quarterly earnings report on Thursday, February 22nd.
On average, analysts expect that BroadSoft will report full-year sales of $125.98 million for the current fiscal year, with estimates ranging from $379.93 million to $389.70 million. For the next fiscal year, analysts anticipate that the company will post sales of $433.65 million per share, with estimates ranging from $411.93 million to $452.80 million. Zacks’ sales calculations are a mean average based on a survey of research firms that follow BroadSoft.
Several brokerages have commented on BSFT. Jefferies Group reaffirmed a “buy” rating and issued a $55.00 price objective on shares of BroadSoft in a research report on Thursday, September 28th. Northland Securities restated a “hold” rating and issued a $42.00 price target on shares of BroadSoft in a research report on Wednesday, October 4th. William Blair restated an “outperform” rating on shares of BroadSoft in a report on Thursday, October 5th. Zacks Investment Research upgraded BroadSoft from a “hold” rating to a “strong-buy” rating and set a $63.00 target price on the stock in a research note on Monday, October 9th. Finally, Robert W. Baird restated a “hold” rating and set a $45.00 price target on shares of BroadSoft in a research note on Friday, October 20th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the stock. BroadSoft has an average rating of “Hold” and a consensus target price of $50.40.
In related news, insider Scott D. Hoffpauir sold 4,448 shares of the stock in a transaction that occurred on Tuesday, October 17th. The stock was sold at an average price of $52.89, for a total value of $235,254.72. Following the completion of the transaction, the insider now directly owns 94,656 shares of the company’s stock, valued at approximately $5,006,355.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 13,344 shares of company stock valued at $721,110 in the last ninety days. Company insiders own 1.50% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the business. Cornerstone Capital Management Holdings LLC. bought a new stake in shares of BroadSoft in the 3rd quarter worth approximately $130,000. Eqis Capital Management Inc. purchased a new position in shares of BroadSoft in the third quarter valued at $208,000. Ramsey Quantitative Systems purchased a new position in BroadSoft during the second quarter worth $349,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of BroadSoft during the third quarter worth $387,000. Finally, Legal & General Group Plc raised its holdings in shares of BroadSoft by 35.0% in the second quarter. Legal & General Group Plc now owns 9,506 shares of the software maker’s stock valued at $409,000 after acquiring an additional 2,465 shares in the last quarter.
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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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