Needham & Company Maintains Rating and Comments on Broadsoft (BSFT) Results
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Price: $54.90 --0%
Rating Summary:
1 Buy, 13 Hold, 0 Sell
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Today's Overall Ratings:
Up: 7 | Down: 11 | New: 19
Rating Summary:
1 Buy, 13 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 11 | New: 19
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Analysts at Needham & Company commented today on the results of Broadsoft's (NASDAQ: BSFT) strong 2Q12 results and surprisingly strong guidance.
Following a dismal quarter for most providers of telecom infrastructure, many analyst expected Broadsoft to maintain its prior 2012 top line guidance. That didn't happen. They beat and they raised guidance.
"We believe the strong results, and divergence from some erstwhile growth stock peers such as Acme Packet (Nasdaq: APKT), demonstrate the strength of the secular drivers in Broadsoft’s Hosted UC and SIP Trunking businesses and its relative defensiveness in the current cap-ex challenged environment", said Richard Valera of Needham & Company.
Needham & Company maintained its Buy rating on Broadsoft (NASDAQ: BSFT) with a price target of $40.00.
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 $27.90 yesterday.
Following a dismal quarter for most providers of telecom infrastructure, many analyst expected Broadsoft to maintain its prior 2012 top line guidance. That didn't happen. They beat and they raised guidance.
"We believe the strong results, and divergence from some erstwhile growth stock peers such as Acme Packet (Nasdaq: APKT), demonstrate the strength of the secular drivers in Broadsoft’s Hosted UC and SIP Trunking businesses and its relative defensiveness in the current cap-ex challenged environment", said Richard Valera of Needham & Company.
Needham & Company maintained its Buy rating on Broadsoft (NASDAQ: BSFT) with a price target of $40.00.
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 $27.90 yesterday.
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