BroadSoft Inc (BSFT) was Reiterated by Dougherty & Company to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 50 from a previous price target of $47 . Dougherty & Company advised their investors in a research report released on Aug 2, 2016.
On the company’s financial health, BroadSoft Inc reported $0.49 EPS for the quarter, beating the analyst consensus estimate by $ 0.13 according to the earnings call on Aug 1, 2016. Analyst had a consensus of $0.36. The company had revenue of $81.70 million for the quarter, compared to analysts expectations of $78.75 million. The company’s revenue was up 26.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.32 EPS.
BroadSoft Inc opened for trading at $44.42 and hit $45.02 on the upside on Friday, eventually ending the session at $44.83, with a gain of 1.36% or 0.6 points. The heightened volatility saw the trading volume jump to 13,03,839 shares. Company has a market cap of $1,314 M.
In a different news, on Jun 17, 2016, Dennis Dourgarian (Chief Accounting Officer) sold 4,843 shares at $42.53 per share price. According to the SEC, on Jun 14, 2016, Michael Tessler (President & CEO) sold 7,863 shares at $42.16 per share price. On Jun 3, 2016, James Albert Tholen (Chief Financial Officer) sold 24,566 shares at $43.90 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.