Raymond James Cuts Rating On BroadSoft, Inc. (BSFT) To “Outperform”


BroadSoft, Inc. (NASDAQ:BSFT).

On July 7, 2017 Barclays started coverage with an initial rating of “Equal-Weight”.

The company is so far trading up since yesterday’s close of 54.8. Company shares last traded at $54.85 barely above the 50 day moving average which is $51.65 and much higher than the 200 day moving average of $43.87. The 50 day moving average was up by +6.19% and the 200 day average went up $10.98 or +25.04%.

BroadSoft, Inc., launched on November 17, 1998, 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. The Business’s technology is designed to meet service providers’ requirements for service availability, network integration and scale, and to address the needs of various business segments, such as micro, small, medium and large enterprises; market segments, such as hospitality, government, education, contact centers and healthcare, and industries requiring call center functionality. The capabilities of the BroadSoft Business offering can be accessed through desk phones, smartphones, tablets, laptops and personal computers (PCs)..

As of the latest earnings report the EPS was $-0.27 and is estimated to be $2.27 for the current year with 31,013,000 shares currently outstanding. Analysts expect next quarter’s EPS will be $1.31 and the next full year EPS is anticipated to be $2.62.

Traders are a little more bullish on shares of the company recently as inferred by the decrease in short interest. The firm experienced a fall in short interest from September 15, 2017 to September 29, 2017 of -16.09%. Short shares fell 629,982 over that period. Days to cover increased 2.0 to 11.0 and the short interest percentage is 0.11% as of September 29.