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5 Top-Performing New Tech Stocks

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What it Does:Provides voice-over-Internet (VoiP) services

BroadSoft (BSFT - Get Report), a communications software company based in Gaithersburg, Md., had a troubling start when it first launched its initial public offering in June 2010.

The company priced at $9, on the low end of its initial range of between $9 and $11, and shares sank on its first day of trading.

But despite this initial setback, shares of BroadSoft have skyrocketed more than 317% since going public, making it the best-performing tech stock to debut within the past year.

The company reported third-quarter 2010 revenue of $22.3 million, up 22% from the year-ago period. Going forward, BroadSoft anticipates fourth-quarter revenue $31.0 to $32.0 million when it reports earnings on March 7.

Tech watchers expect BroadSoft, which recently announced it was launching Web-based software designed for 4G smartphones and tablets, to continue to grow going into 2011.

"BroadSoft ranks as one of the fastest growing communications companies," Pacific Crest Securities analyst Brent Bracelin wrote in a research note. Bracelin places the company in the same fast-growing league as tech heavyweights Research in Motion (RIMM) and Riverbed (RVBD).

BroadSoft's competitors include Alcatel-Lucent, Cisco (CSCO) and Nortel.
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FN $28.18 -0.81%
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