It's not something i follow. 30% drop is tempting, but these things usually take 3 days to shake out. Multiple downgrades on disappointing revenues and weak guidance. I would stay away until I knew more, but in reading the analyst's comments, they were disappointed.
"Telecom-software company BroadSoft Inc. (BSFT, $22.55, -$8.36, -27.05%) issued downbeat 2013 guidance. But Mizuho, in a note to clients, said it was "more troubled by secular declines in the consumer- and professional-services business," along with increased operating spending. "These headwinds will deflate earnings power by about 30%, unraveling a key tenet of our investment thesis," the investment bank said as it become one of several firms to downgrade BroadSoft from buy-equivalent ratings. "