Price Don’t Lie: What’s Next for BroadSoft Inc After Touching 52-Week High?

Price Don't Lie: What's Next for BroadSoft Inc After Touching 52 Week High?

The stock of BroadSoft Inc (NASDAQ:BSFT) hit a new 52-week high and has $64.81 target or 37.00% above today’s $47.31 share price. The 9 months bullish chart indicates low risk for the $1.42B company. The 1-year high was reported on Oct, 7 by Barchart.com. If the $64.81 price target is reached, the company will be worth $525.40M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 66,823 shares traded hands. BroadSoft Inc (NASDAQ:BSFT) has risen 32.23% since March 4, 2016 and is uptrending. It has outperformed by 24.19% the S&P500.

Analysts await BroadSoft Inc (NASDAQ:BSFT) to report earnings on November, 2. They expect $-0.03 EPS, down 160.00% or $0.08 from last year’s $0.05 per share. After $0.06 actual EPS reported by BroadSoft Inc for the previous quarter, Wall Street now forecasts -150.00% negative EPS growth.

BroadSoft Inc (NASDAQ:BSFT) Ratings Coverage

Out of 5 analysts covering Broadsoft (NASDAQ:BSFT), 5 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. $55 is the highest target while $42 is the lowest. The $48.75 average target is 3.04% above today’s ($47.31) stock price. Broadsoft has been the topic of 6 analyst reports since November 5, 2015 according to StockzIntelligence Inc. On Thursday, November 5 the stock rating was maintained by Needham with “Buy”. As per Tuesday, August 2, the company rating was maintained by Raymond James. As per Wednesday, September 28, the company rating was maintained by Jefferies. The firm has “Buy” rating by Jefferies given on Tuesday, August 2. As per Wednesday, January 20, the company rating was upgraded by Wells Fargo. As per Friday, April 29, the company rating was maintained by Dougherty & Company.

According to Zacks Investment Research, “BroadSoft, Inc. is engaged in providing software that enables fixed-line, mobile and cable service providers to deliver voice and multimedia services over their Internet protocol-based, or IP-based, networks. The Company’s software, BroadWorks, enables its service provider customers to provide enterprises and consumers with a range of cloud-based, or hosted, IP multimedia communications, such as hosted IP private branch exchanges, or PBXs, video calling, unified communications, or UC, collaboration and converged mobile and fixed-line services. BroadSoft, Inc. is headquartered in Gaithersburg, Maryland.”

Insitutional Activity: The institutional sentiment decreased to 0.79 in 2016 Q2. Its down 0.47, from 1.26 in 2016Q1. The ratio dived, as 17 funds sold all BroadSoft Inc shares owned while 65 reduced positions. 20 funds bought stakes while 45 increased positions. They now own 30.29 million shares or 0.23% more from 30.22 million shares in 2016Q1.
Fiera has 1.25 million shares for 0.29% of their US portfolio. Finemark Financial Bank Tru accumulated 757 shares or 0% of the stock. Sagard Capital Partners Management Corporation last reported 17.27% of its portfolio in the stock. Neuberger Berman Ltd Company reported 25,000 shares or 0% of all its holdings. Teachers Advsrs Inc last reported 307,344 shares in the company. Natl Bank Of Montreal Can holds 0% or 4,839 shares in its portfolio. The Illinois-based Ubs Asset Management Americas has invested 0% in BroadSoft Inc (NASDAQ:BSFT). Bnp Paribas Arbitrage Sa has 0% invested in the company for 1,144 shares. Virginia Retirement Systems Et Al last reported 17,900 shares in the company. Cornerstone accumulated 0.03% or 686 shares. The North Carolina-based Natl Bank Of America Corp De has invested 0% in BroadSoft Inc (NASDAQ:BSFT). Principal Fincl Group Inc Inc accumulated 102,300 shares or 0.01% of the stock. Price T Rowe Associates Inc Md accumulated 0% or 15,980 shares. Redmond Asset Ltd Llc holds 2.03% of its portfolio in BroadSoft Inc (NASDAQ:BSFT) for 99,250 shares. Timessquare Capital Ltd reported 786,847 shares or 0.21% of all its holdings.

Insider Transactions: Since April 11, 2016, the stock had 0 insider purchases, and 10 selling transactions for $2.36 million net activity. Markley John D. Jr. sold $81,580 worth of stock or 2,000 shares. 7,863 shares were sold by Tessler Michael, worth $331,504 on Friday, June 10. $205,973 worth of shares were sold by Dourgarian Dennis on Wednesday, June 15. 11,123 shares were sold by Tholen James Albert, worth $508,099 on Thursday, September 1. Shares for $196,088 were sold by BEHBEHANI TAHER G. on Wednesday, July 20.

More news for BroadSoft Inc (NASDAQ:BSFT) were recently published by: Fool.com, which released: “Why BroadSoft Inc Shares Soared” on February 29, 2016. Benzinga.com‘s article titled: “Broadsoft And The Billings Growth Debate” and published on September 28, 2016 is yet another important article.

BSFT Company Profile

BroadSoft, Inc., incorporated on November 17, 1998, is a well-known provider of software and services that enable telecommunications service providers to deliver hosted, cloud Unified Communications (UC) to their enterprise customers. The Firm offers service providers two deployment options, software and software-as-a-service (SaaS), to enable them to offer UC services to their enterprise customers. Hosted UC enables the delivery of Private Branch Exchange (PBX) features without the need for premise equipment. Hosted UC can be delivered through service providers using their own Internet protocol (IP) networks, as well as over the public Internet (also known as over the top (OTT)). In addition to voice telephony, UC offers additional features, such as full integration with mobile devices, conferencing, instant messaging and presence (IM&P) and Web collaboration.

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