Zacks Investment Research upgraded shares of Brightcove Inc. (NASDAQ:BCOV) from a sell rating to a hold rating in a research report released on Tuesday, October 17th.
According to Zacks, “Brightcove Inc. is engaged in providing cloud content services for publishing and distributing professional digital media. Its products include Brightcove Video Cloud, an online video platform and Brightcove App Cloud, a software application development and management platform. The Company provides its solutions to media, retail, technology, financial services companies, governments, educational institutions, and non-profit organizations in North America, Europe, and the Asia Pacific. Brightcove Inc. is headquartered in Cambridge, Massachusetts. “
Several other equities research analysts have also recently weighed in on BCOV. B. Riley reaffirmed a neutral rating and issued a $5.50 price target on shares of Brightcove in a research note on Tuesday, August 1st. Northland Securities reissued a hold rating and issued a $7.00 target price on shares of Brightcove in a report on Friday, September 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $7.67.
Brightcove (NASDAQ:BCOV) traded up 0.71% during mid-day trading on Tuesday, hitting $7.05. 159,559 shares of the stock were exchanged. The stock has a 50 day moving average price of $7.07 and a 200 day moving average price of $6.87. The company’s market capitalization is $242.13 million. Brightcove has a 1-year low of $5.40 and a 1-year high of $12.00.
Brightcove (NASDAQ:BCOV) last issued its quarterly earnings results on Wednesday, July 26th. The software maker reported ($0.16) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.14) by ($0.02). The firm had revenue of $38.75 million during the quarter, compared to analysts’ expectations of $37.13 million. Brightcove had a negative return on equity of 19.65% and a negative net margin of 12.22%. Brightcove’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the previous year, the company earned ($0.01) earnings per share. On average, equities analysts anticipate that Brightcove will post ($0.37) earnings per share for the current fiscal year.
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A number of institutional investors have recently added to or reduced their stakes in BCOV. Prudential Financial Inc. lifted its holdings in shares of Brightcove by 1.8% during the first quarter. Prudential Financial Inc. now owns 121,060 shares of the software maker’s stock valued at $1,077,000 after purchasing an additional 2,100 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Brightcove by 1.7% during the first quarter. AQR Capital Management LLC now owns 421,836 shares of the software maker’s stock valued at $3,754,000 after purchasing an additional 7,062 shares in the last quarter. Nuveen Asset Management LLC lifted its holdings in shares of Brightcove by 162.8% during the first quarter. Nuveen Asset Management LLC now owns 752,554 shares of the software maker’s stock valued at $6,698,000 after purchasing an additional 466,225 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Brightcove by 7.9% during the first quarter. Russell Investments Group Ltd. now owns 15,600 shares of the software maker’s stock valued at $139,000 after purchasing an additional 1,143 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Brightcove by 8.8% during the first quarter. Vanguard Group Inc. now owns 1,859,237 shares of the software maker’s stock valued at $16,548,000 after purchasing an additional 149,626 shares in the last quarter. 61.77% of the stock is currently owned by institutional investors and hedge funds.
Brightcove Inc is a global provider of cloud-based services for video. The Company’s products and services include Brightcove Video Cloud (Video Cloud), Brightcove Zencoder (Zencoder), Brightcove Once (Once), Brightcove Perform (Perform), Brightcove Video Marketing Suite (Video Marketing Suite), Brightcove Lift (Lift), Brightcove OTT Flow (OTT Flow) and Brightcove Enterprise Video Suite (Enterprise Video Suite), among others.
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