Buy Broadsoft (BSFT) Weakness after Disappointing Q3 - Jefferies

November 5, 2013 6:58 AM EST
Get Alerts BSFT Hot Sheet
Price: $41.25 -2.14%

Rating Summary:
    8 Buy, 8 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Shares of Broadsoft (NASDAQ: BSFT) are down 19% in pre-open trade Tuesday following disappointing Q3 results and guidance. However, analyst George Notter at Jefferies is telling clients to buy the weakness.

The firm continues to like the company's 1) very strong growth prospects in the Hosted PBX / SIP Trunking space; and 2) free option on long-term success in the FMC/VoLTE space.

The firm maintained a Buy rating but trimmed their price target to $38.00 (from $39.75).

The firm also cut Q4 EPS from $0.52 to $0.42, FY 2013 EPS from $1.30 to $1.21 and FY 2014 EPS from $1.80 to $1.60.

For an analyst ratings summary and ratings history on Broadsoft click here. For more ratings news on Broadsoft click here.

Shares of Broadsoft closed at $33.14 yesterday.

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