BroadSoft, Inc. (NASDAQ:BSFT) issued an update on its FY17 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $2.20-2.50 for the period, compared to the Thomson Reuters consensus estimate of $2.30. The company issued revenue guidance of $380-390 million, compared to the consensus revenue estimate of $384.79 million.BroadSoft also updated its Q3 guidance to $0.23-0.40 EPS.

Shares of BroadSoft, Inc. (BSFT) opened at 44.05 on Wednesday. The stock’s 50 day moving average price is $43.02 and its 200 day moving average price is $41.15. BroadSoft, Inc. has a 52 week low of $33.85 and a 52 week high of $48.40. The firm’s market capitalization is $1.35 billion.

BroadSoft (NASDAQ:BSFT) last released its earnings results on Monday, August 7th. The software maker reported $0.40 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.13) by $0.53. The firm had revenue of $88.80 million during the quarter, compared to analyst estimates of $86.63 million. BroadSoft had a negative net margin of 2.34% and a positive return on equity of 4.83%. The business’s revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.49 EPS. On average, analysts predict that BroadSoft, Inc. will post $2.27 EPS for the current fiscal year.

A number of research analysts have weighed in on BSFT shares. Needham & Company LLC cut 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 reissued a buy rating on shares of BroadSoft in a research report on Thursday, May 4th. BidaskClub raised shares of BroadSoft from a buy rating to a strong-buy rating in a research report on Tuesday, June 27th. Cowen and Company reissued a buy rating and set a $51.00 target price on shares of BroadSoft in a research report on Friday, July 28th. Finally, ValuEngine raised shares of BroadSoft from a sell rating to a hold rating in a research report on Tuesday, June 27th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock has an average rating of Buy and an average price target of $47.00.

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About BroadSoft

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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