Needham & Company Maintains a 'Buy' on Broadsoft (BSFT); Analyst Day Highlights

Needham & Company maintains a 'Buy' on Broadsoft (NASDAQ: BSFT) price target of $40.00.

Analyst, Richard Valera, said, "Yesterday, we attended Broadsoft’s first Analyst Day as a public company at the company’s headquarters in Gaithersburg, MD. Management made a convincing case that ample growth remains in front of the company, even before any potential revenue contribution from LTE in late ’13/’14. While no new updates were provided on the financial front, we think the company’s reaffirmation of its 2Q and 2012 guidance and commentary that demand from carrier customers remains strong, notwithstanding the macro headlines, was incrementally encouraging."

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 $29.10 yesterday.

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