BroadSoft (BSFT) Cut to Strong Sell at BidaskClub

BidaskClub lowered shares of BroadSoft (NASDAQ:BSFT) from a sell rating to a strong sell rating in a research report report published on Wednesday.

Other equities research analysts have also issued research reports about the stock. Dougherty & Co lowered shares of BroadSoft from a buy rating to a neutral rating in a report on Tuesday, October 24th. Zacks Investment Research raised shares of BroadSoft from a hold rating to a buy rating and set a $62.00 price objective on the stock in a report on Wednesday, October 25th. Needham & Company LLC lowered shares of BroadSoft from a buy rating to a hold rating in a report on Tuesday, October 24th. Cowen lowered shares of BroadSoft from an outperform rating to a market perform rating in a report on Tuesday, November 7th. Finally, Northland Securities reissued a hold rating and set a $42.00 price objective on shares of BroadSoft in a report on Wednesday, October 4th. One analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $50.40.

Shares of BroadSoft (NASDAQ:BSFT) traded down $0.05 during trading on Wednesday, hitting $54.85. 451,356 shares of the company were exchanged, compared to its average volume of 815,542. The firm has a market cap of $1,742.91, a PE ratio of -152.36, a P/E/G ratio of 3.54 and a beta of 0.93. The company has a quick ratio of 2.64, a current ratio of 2.64 and a debt-to-equity ratio of 0.41. BroadSoft has a 1-year low of $33.85 and a 1-year high of $55.05.

BroadSoft (NASDAQ:BSFT) last announced its earnings results on Monday, November 6th. The software maker reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.06. BroadSoft had a negative net margin of 2.86% and a positive return on equity of 3.78%. equities analysts predict that BroadSoft will post 0.8 EPS for the current year.

In other news, insider Scott D. Hoffpauir sold 4,448 shares of the firm’s stock in a transaction dated Tuesday, October 17th. The shares were sold at an average price of $52.89, for a total value of $235,254.72. Following the transaction, the insider now owns 94,656 shares of the company’s stock, valued at approximately $5,006,355.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 13,344 shares of company stock worth $721,110 in the last ninety days. Insiders own 1.50% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Cornerstone Capital Management Holdings LLC. bought a new position in shares of BroadSoft in the 3rd quarter valued at about $130,000. Eqis Capital Management Inc. bought a new position in shares of BroadSoft in the 3rd quarter valued at about $208,000. Ramsey Quantitative Systems bought a new position in shares of BroadSoft in the 2nd quarter valued at about $349,000. Dynamic Technology Lab Private Ltd bought a new position in shares of BroadSoft in the 3rd quarter valued at about $387,000. Finally, Legal & General Group Plc boosted its stake in shares of BroadSoft by 35.0% in the 2nd quarter. Legal & General Group Plc now owns 9,506 shares of the software maker’s stock valued at $409,000 after purchasing an additional 2,465 shares during the last quarter.

COPYRIGHT VIOLATION NOTICE: “BroadSoft (BSFT) Cut to Strong Sell at BidaskClub” was originally reported by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are reading this report on another site, it was illegally copied and republished in violation of US & international copyright legislation. The correct version of this report can be viewed at https://www.dispatchtribunal.com/2018/01/15/broadsoft-bsft-cut-to-strong-sell-at-bidaskclub.html.

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.

Analyst Recommendations for BroadSoft (NASDAQ:BSFT)

Receive News & Ratings for BroadSoft Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BroadSoft and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply