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Stock Investors Bid Up Shares of BroadSoft, Up 4.1%

Published on Mon, 02/25/2013 - 11:13
By Mallory Stone

BroadSoft (NASDAQ:BSFT) is a company whose shares are active, trading 4.1% higher to $34.47. The Dow is trading fractionally higher to 14,009 and the S&P is currently trading fractionally higher to 1,517.

BroadSoft Inc. is a global provider of software that enables fixed-line, mobile and cable service providers to deliver voice and multimedia services over their Internet protocol-based, or IP-based, networks. The Company's software enables customers to provide enterprises and consumers with a range of cloud-based, or hosted, IP multimedia communications.

BroadSoft (NASDAQ:BSFT) has potential upside of 25.5% based on a current price of $34.47 and analysts' consensus price target of $43.25. The stock should hit resistance at its 50-day moving average (MA) of $35.28, as well as support at its 200-day MA of $32.83.

Over the past year, BroadSoft has traded in a range of $20.13 to $45.32 and is now at $34.47, 71% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has advanced 0.3%.

By Mallory Stone