Northland Securities upgraded shares of Brightcove Inc. (NASDAQ:BCOV) from a market perform rating to an outperform rating in a research note released on Friday, October 27th, MarketBeat.com reports.
A number of other research analysts have also weighed in on the stock. Zacks Investment Research raised shares of Brightcove from a sell rating to a hold rating in a research report on Tuesday, October 17th. B. Riley reissued a hold rating and set a $7.25 target price on shares of Brightcove in a research report on Friday, October 27th. Finally, Stifel Nicolaus boosted their target price on shares of Brightcove from $10.50 to $11.00 and gave the stock a buy rating in a research report on Friday, October 27th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $8.44.
Shares of Brightcove (BCOV) traded up $0.05 during trading hours on Friday, reaching $7.35. 79,700 shares of the company’s stock traded hands, compared to its average volume of 256,081. Brightcove has a 52 week low of $5.40 and a 52 week high of $9.30.
Brightcove (NASDAQ:BCOV) last issued its quarterly earnings data on Thursday, October 26th. The software maker reported ($0.06) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.10) by $0.04. The firm had revenue of $39.50 million during the quarter, compared to analysts’ expectations of $37.99 million. Brightcove had a negative net margin of 14.58% and a negative return on equity of 25.11%. Brightcove’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.02 earnings per share. equities research analysts anticipate that Brightcove will post -0.54 earnings per share for the current year.
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A number of large investors have recently bought and sold shares of BCOV. Russell Investments Group Ltd. raised its position in Brightcove by 7.9% in the first quarter. Russell Investments Group Ltd. now owns 15,600 shares of the software maker’s stock worth $139,000 after purchasing an additional 1,143 shares in the last quarter. Wells Fargo & Company MN raised its position in Brightcove by 4.0% in the first quarter. Wells Fargo & Company MN now owns 26,806 shares of the software maker’s stock worth $239,000 after purchasing an additional 1,035 shares in the last quarter. Parametric Portfolio Associates LLC raised its position in Brightcove by 14.0% in the first quarter. Parametric Portfolio Associates LLC now owns 17,819 shares of the software maker’s stock worth $159,000 after purchasing an additional 2,183 shares in the last quarter. Prudential Financial Inc. raised its position in Brightcove by 1.8% in the first quarter. Prudential Financial Inc. now owns 121,060 shares of the software maker’s stock worth $1,077,000 after purchasing an additional 2,100 shares in the last quarter. Finally, American International Group Inc. raised its position in Brightcove by 7.1% in the first quarter. American International Group Inc. now owns 18,452 shares of the software maker’s stock worth $164,000 after purchasing an additional 1,223 shares in the last quarter. 60.88% of the stock is owned by hedge funds and other institutional investors.
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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