BroadSoft, Inc. (NASDAQ:BSFT) – Investment analysts at William Blair cut their Q3 2017 earnings per share (EPS) estimates for shares of BroadSoft in a report issued on Tuesday. William Blair analyst D. Netis now expects that the software maker will post earnings of ($0.05) per share for the quarter, down from their prior estimate 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.
Several other research analysts have also weighed in on BSFT. Needham & Company LLC reduced their target price on BroadSoft from $48.00 to $44.00 and set a “buy” rating on the stock in a report on Tuesday, May 2nd. Dougherty & Co reduced their target price on BroadSoft from $50.00 to $44.00 and set a “buy” rating on the stock in a report on Tuesday, May 2nd. Cowen and Company reduced their target price on BroadSoft from $54.00 to $51.00 and set an “outperform” rating on the stock in a report on Tuesday, May 2nd. Wells Fargo & Company reiterated an “outperform” rating and set a $50.00 target price (up from $46.00) on shares of BroadSoft in a report on Monday, June 19th. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $55.00 target price on shares of BroadSoft in a report on Monday, June 26th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $47.00.
BroadSoft (NASDAQ BSFT) opened at 44.20 on Friday. The company’s 50-day moving average price is $43.28 and its 200 day moving average price is $41.22. BroadSoft has a 52-week low of $33.85 and a 52-week high of $48.40. The firm’s market capitalization is $1.37 billion.
BroadSoft (NASDAQ:BSFT) last posted its quarterly earnings results on Monday, August 7th. The software maker reported $0.40 earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.53. The firm had revenue of $88.80 million for the quarter, compared to analyst estimates of $86.63 million. BroadSoft had a positive return on equity of 4.72% and a negative net margin of 2.34%. BroadSoft’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.49 earnings per share.
Several hedge funds have recently added to or reduced their stakes in BSFT. Ameritas Investment Partners Inc. purchased a new stake in BroadSoft during the first quarter valued at about $102,000. Koch Industries Inc. purchased a new stake in BroadSoft during the first quarter valued at about $220,000. Pitcairn Co. purchased a new stake in BroadSoft during the second quarter valued at about $222,000. Fox Run Management L.L.C. purchased a new stake in BroadSoft during the first quarter valued at about $225,000. Finally, Wealthsource Partners LLC increased 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 valued at $253,000 after buying an additional 735 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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