BroadSoft Inc (BSFT) reported quarterly earnings results on Monday, May-2-2016. The company said it had a profit of $0.37 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.11. Analysts had a consensus of $0.26. The company posted revenue of $73.10 million in the period, compared to analysts expectations of $71.59 million. The company’s revenue was up 31.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.24 EPS.
Many Wall Street Analysts have commented on BroadSoft Inc. Company shares were Reiterated by Dougherty & Company on Apr 29, 2016 to “Buy”, Firm has raised the Price Target to $ 47 from a previous price target of $45 .Company shares were Reiterated by Needham on Mar 1, 2016 to “Buy”, Firm has raised the Price Target to $ 48 from a previous price target of $42 .
BroadSoft Inc opened for trading at $39.86 and hit $40.76 on the upside on Wednesday, eventually ending the session at $40.22, with a gain of 0.95% or 0.38 points. The heightened volatility saw the trading volume jump to 2,23,162 shares. Company has a market cap of $1,171 M.
In a different news, on Apr 22, 2016, Taher G. Behbehani (Chief Marketing Officer) sold 2,382 shares at $40.74 per share price. According to the SEC, on Apr 20, 2016, Michael Tessler (President & CEO) sold 9,718 shares at $40.21 per share price. On Apr 12, 2016, John D. Jr. Markley (director) sold 2,000 shares at $40.79 per share price, according to the Form-4 filing with the securities and exchange commission.
BroadSoft Inc. is a provider of software and services that enable mobile fixed-line and cable service providers to deliver hosted cloud-based unified communications (UC) over their internet protocol (IP)- -based networks. The Company offers service providers two deployment options software and software-as-a-service (SaaS). Hosted UC enables the delivery of PBX features without the need for premise-based equipment. BroadWorks is the Companys application server software offering. The Companys second deployment option is BroadCloud SaaS offering. UC-One is a communications and collaboration offering that enables mobile fixed-line cable and converged service providers to offer businesses and other enterprises UC features and functionalities on a hosted basis. The key elements of the Companys technology include SIP Call control Geographic redundancy Common OAMP platform Media resource framework Client technology IMS and VoLTE and Network Function Virtualization.