BroadSoft Inc (NASDAQ:BSFT) close to 52-week high, short interest dropping

BroadSoft Inc (NASDAQ:BSFT) (TREND ANALYSIS) shares were traded with no significant volume change. The stock closed last trading session at $35.37, down by -2.75%, with a volume of 405,597 shares against an average volume for the last 3 months of 300,888.

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BroadSoft Inc (NASDAQ:BSFT) stock is currently trading 8.91% below its 52-week-high, 84.99% above its 52-week-low. The 1-year stock price history is in the range of $19.12 – $38.83. BroadSoft Inc (BSFT) has a price to earnings ratio of 170.05 versus Technology sector average of 20.58. BSFT stock price has outperformed the Nasdaq by 15.8%. The Communications Software company is currently valued at $1.03 billion and its share price closed the last trading session at $35.37. The stock has a 50-day moving average of $36.35 and a 200-day moving average of $32.34.

BroadSoft Inc (BSFT) current short interest stands at 1 million shares. It has decreased by 90% from the same period of last month. Around 6% of the company’s shares, which are float, are short sold. With a 10-days average volume of 0.25 million shares, the number of days required to cover the short positions stand at 4.1 days.

The company is expected to announce next quarter earnings on August 03, at consensus estimate of $0.09. BroadSoft Inc (BSFT) reported last quarter earnings on May 04. The Communications Software company announced earnings per share of $0.1 against a consensus Street estimate of $-0.02, beating the average estimate by $0.12. This corresponds to an increase of $0.17 compared to the same quarter of the previous fiscal year.

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There are currently eleven analysts that cover BroadSoft Inc stock. Of those eleven, six have a Buy rating, five have a Hold rating. On a consensus basis this yields to an Overweight rating. The consensus target price stands at $39.75.

A recent analyst activity consisted of Deutsche Bank reiterating their Hold stance on May 5. Deutsche Bank increased their price target on BSFT from $27 to $30. This corresponds to a 15.18% downside from the last closing price. On the date of report, the stock closed at $34.8.

Another research firm was Jefferies who reiterated their Buy stance on February 26. Jefferies increased their price target on BroadSoft Inc from $33.25 to $37. This translates to a 4.61% upside from the last closing price. On the date of report, the stock closed at $32.41.

Company profile

BroadSoft Inc. is a global provider of 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 enables customers to provide enterprises and consumers with a range of cloud-based, or hosted, IP multimedia communications.

BroadSoft Inc (NASDAQ:BSFT) close to 52-week high, short interest dropping was last modified: June 29th, 2015 by Pat Mayfield