BroadSoft, Inc. (NASDAQ:BSFT) Issues Earnings Results, Beats Estimates By $0.11 EPS
BroadSoft, Inc. (NASDAQ:BSFT) posted its earnings results on Monday. The software maker reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.11, Bloomberg Earnings reports. The company had revenue of $88.80 million during the quarter, compared to the consensus estimate of $86.63 million. BroadSoft had a negative net margin of 2.36% and a positive return on equity of 5.12%. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the firm posted $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) opened at 45.30 on Tuesday. The stock’s market cap is $1.39 billion. The stock’s 50 day moving average is $42.89 and its 200-day moving average is $41.10. BroadSoft has a 1-year low of $33.85 and a 1-year high of $48.40.
A number of research analysts recently issued reports on BSFT shares. Dougherty & Co decreased their target price on shares of BroadSoft from $50.00 to $44.00 and set a “buy” rating for the company in a research report on Tuesday, May 2nd. Needham & Company LLC decreased their target price on shares of BroadSoft from $48.00 to $44.00 and set a “buy” rating for the company in a research report on Tuesday, May 2nd. William Blair restated a “buy” rating on shares of BroadSoft in a research report on Thursday, May 4th. BidaskClub downgraded shares of BroadSoft from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 5th. Finally, Jefferies Group LLC restated a “buy” rating and set a $55.00 target price on shares of BroadSoft in a research report on Monday, June 26th. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $46.88.
Several hedge funds have recently made changes to their positions in the stock. Ameritas Investment Partners Inc. bought a new stake in shares of BroadSoft during the first quarter valued at approximately $102,000. Koch Industries Inc. bought a new stake in shares of BroadSoft during the first quarter valued at approximately $220,000. Pitcairn Co. bought a new stake in shares of BroadSoft during the second quarter valued at approximately $222,000. Fox Run Management L.L.C. bought a new stake in shares of BroadSoft during the first quarter valued at approximately $225,000. Finally, Wealthsource Partners LLC boosted its stake in shares of 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 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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