BroadSoft, Inc. (NASDAQ:BSFT) – Analysts at William Blair reduced their Q3 2017 earnings per share (EPS) estimates for shares of BroadSoft in a report released on Tuesday. William Blair analyst D. Netis now anticipates that the software maker will post earnings per share of ($0.05) for the quarter, down from their previous forecast of $0.42. William Blair currently has a “Buy” rating on the stock. William Blair also issued estimates for BroadSoft’s Q4 2017 earnings at $1.09 EPS and FY2017 earnings at $0.92 EPS.
BSFT has been the subject of several other research reports. Needham & Company LLC cut 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. BidaskClub upgraded BroadSoft from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 27th. Cowen and Company reiterated a “buy” rating and set a $51.00 price target on shares of BroadSoft in a research note on Friday, July 28th. ValuEngine upgraded BroadSoft from a “sell” rating to a “hold” rating in a research note on Tuesday, June 27th. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $55.00 price target on shares of BroadSoft in a research note on Tuesday, July 25th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. BroadSoft currently has an average rating of “Buy” and an average target price of $47.00.
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Shares of BroadSoft (NASDAQ BSFT) opened at 44.20 on Friday. BroadSoft has a 12 month low of $33.85 and a 12 month high of $48.40. The stock has a 50 day moving average of $43.28 and a 200-day moving average of $41.22. The company’s market cap is $1.37 billion.
BroadSoft (NASDAQ:BSFT) last announced its earnings results on Monday, August 7th. The software maker reported $0.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.13) by $0.53. The company had revenue of $88.80 million during the quarter, compared to analysts’ expectations of $86.63 million. BroadSoft had a negative net margin of 2.34% and a positive return on equity of 4.72%. BroadSoft’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.49 earnings per share.
Hedge funds and other institutional investors have recently modified their holdings of the company. Atria Investments LLC increased its position in shares of BroadSoft by 3.7% in the first quarter. Atria Investments LLC now owns 6,384 shares of the software maker’s stock valued at $257,000 after buying an additional 227 shares in the last quarter. Quotient Investors LLC increased its position in shares of BroadSoft by 1.7% in the first quarter. Quotient Investors LLC now owns 17,600 shares of the software maker’s stock valued at $708,000 after buying an additional 300 shares in the last quarter. TD Asset Management Inc. increased its position in shares of BroadSoft by 2.8% in the first quarter. TD Asset Management Inc. now owns 14,500 shares of the software maker’s stock valued at $583,000 after buying an additional 400 shares in the last quarter. Sei Investments Co. increased its position in shares of BroadSoft by 1.1% in the second quarter. Sei Investments Co. now owns 36,486 shares of the software maker’s stock valued at $1,571,000 after buying an additional 410 shares in the last quarter. Finally, Tealwood Asset Management Inc. increased its position in shares of BroadSoft by 0.7% in the second quarter. Tealwood Asset Management Inc. now owns 66,260 shares of the software maker’s stock valued at $2,852,000 after buying an additional 435 shares in the last quarter.
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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