Wedbush Cuts Price Target on Broadsoft (BSFT) Given FY12 Guidance
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Rating Summary:
1 Buy, 13 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 17 | New: 16
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Wedbush is reaffirming its Neutral rating on shares of Broadsoft (NASDAQ: BSFT), while lowering its price target from $36 to $34.
The company reported strong Q4 results as sales and earnings both topped the firm's and Street's expectations. The figures also exceed the company's guidance.
Although the company's Q4 results were above expectations, Broadsoft's 2012 guidance was disappointing to the firm. To go inline with the company's guidance and recent market trends, the firm is tweaking its FY12 EPS and revenue estimates from $1.20 and $164 million to $1.24 and $162 million.
An analyst at Wedbush comments, "We maintain our NEUTRAL rating given signs that the uncertain capex spending environment is negatively impacting growth and given disappointing 2012 guidance which suggests that profitability is likely to decline in the near-term."
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 $36.37 yesterday.
The company reported strong Q4 results as sales and earnings both topped the firm's and Street's expectations. The figures also exceed the company's guidance.
Although the company's Q4 results were above expectations, Broadsoft's 2012 guidance was disappointing to the firm. To go inline with the company's guidance and recent market trends, the firm is tweaking its FY12 EPS and revenue estimates from $1.20 and $164 million to $1.24 and $162 million.
An analyst at Wedbush comments, "We maintain our NEUTRAL rating given signs that the uncertain capex spending environment is negatively impacting growth and given disappointing 2012 guidance which suggests that profitability is likely to decline in the near-term."
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 $36.37 yesterday.
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