BroadSoft, Inc. (NASDAQ:BSFT) was a big mover last session, as the company saw its shares rise nearly 12% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This continues the recent uptrend for the company as the stock is now up 10.8% in the past one-month time frame. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $42.60 to $45.30 in the past one-month time frame.
The stock gained after reports surfaced that BroadSoft is exploring its options, including a potential sale, according to people familiar with the matter.
The company has seen seven negative estimate revisions in the past few weeks, while its Zacks Consensus Estimate for the current quarter has also moved lower over the past few weeks, suggesting there may be trouble down the road. So make sure to keep an eye on this stock going forward, to see if this recent move higher can last.
BroadSoft currently has a Zacks Rank #3 (Hold) while its Earnings ESP is 0.00%.
A better-ranked stock in the retail sector is ADVA Optical Networking SE ADVOF, which currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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BroadSoft, Inc. (BSFT): Free Stock Analysis Report
ADVA OPTICAL (ADVOF): Free Stock Analysis Report
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