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Watch for Continued Gains in Shares of Broadsoft Inc (BSFT)

By Amy Schwartz

Shares of Broadsoft Inc (NASDAQ:BSFT) traded today at $49.90, breaking its 52-week high. So far today approximately 100,000 shares have been exchanged, as compared to an average 30-day volume of 426,000 shares.

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, hosted, and IP multimedia communications.

In the past 52 weeks, Broadsoft Inc share prices have been bracketed by a low of $33.85 and a high of $49.90 and are now at $49.79, 47% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.9% while the 200-day MA has risen 0.3%.

Broadsoft Inc (NASDAQ:BSFT) defies analysts with a current price ($49.79) 9.9% above its average consensus price target of $44.88. Broadsoft Inc shares have support at the 50-day moving average (MA) of $38.52 and additional support at the 200-day MA of $34.73.

SmarTrend recommended that subscribers consider buying shares of Broadsoft Inc on June 1st, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $40.70. Since that recommendation, shares of Broadsoft Inc have risen 21.7%. We continue to monitor BSFT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows broadsoft inc

Ticker(s): BSFT