Analysts Offer Insights on Technology Companies: Sykes Enterprises Inc (NASDAQ: SYKE) and BroadSoft (NASDAQ: BSFT)

By Carrie Williams

Analysts fell to the sidelines weighing in on Sykes Enterprises Inc (NASDAQ: SYKE) and BroadSoft (NASDAQ: BSFT) with neutral ratings,indicating that the experts are neither bullish nor bearish on the stocks.

Sykes Enterprises Inc (NASDAQ: SYKE)

In a report released yesterday, David Koning from Robert W. Baird reiterated a Hold rating on Sykes Enterprises Inc (NASDAQ: SYKE), with a price target of $32. The company’s shares opened today at $29.24.

According to TipRanks.com, Koning is a top 100 analyst with an average return of 16.3% and a 85.4% success rate. Koning covers the Technology sector, focusing on stocks such as Jack Henry & Associates, Fidelity National Info, and Total System Services.

Sykes Enterprises Inc has an analyst consensus of Moderate Buy, with a price target consensus of $33.

BroadSoft (NASDAQ: BSFT)

Robert W. Baird analyst William Power reiterated a Hold rating on BroadSoft (NASDAQ: BSFT) yesterday and set a price target of $55. The company’s shares opened today at $54.75, close to its 52-week high of $55.

According to TipRanks.com, Power is a 4-star analyst with an average return of 5.6% and a 55.0% success rate. Power covers the Technology sector, focusing on stocks such as Synchronoss Technologies, Vonage Holdings, and Microsoft Corp.

Currently, the analyst consensus on BroadSoft is Moderate Buy and the average price target is $50.75, representing a -7.3% downside.

In a report released today, Needham also downgraded the stock to Hold.

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