Brightcove (BCOV) PT Raised to $13.00 at Stifel Nicolaus

Brightcove (NASDAQ:BCOV) had its price objective hoisted by Stifel Nicolaus from $11.00 to $13.00 in a report published on Tuesday, MarketBeat.com reports. They currently have a buy rating on the software maker’s stock.

Several other research analysts have also recently weighed in on BCOV. BidaskClub upgraded shares of Brightcove from a sell rating to a hold rating in a report on Friday, February 23rd. Zacks Investment Research upgraded shares of Brightcove from a hold rating to a buy rating and set a $8.00 price target on the stock in a report on Wednesday, March 7th. ValuEngine upgraded shares of Brightcove from a sell rating to a hold rating in a report on Friday, April 27th. TheStreet upgraded shares of Brightcove from a d+ rating to a c- rating in a research note on Monday, May 7th. Finally, Dougherty & Co boosted their target price on shares of Brightcove from $11.00 to $14.00 and gave the company a buy rating in a research note on Thursday, May 17th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has an average rating of Buy and an average price target of $9.85.

Brightcove stock opened at $10.50 on Tuesday. Brightcove has a fifty-two week low of $5.95 and a fifty-two week high of $10.65. The stock has a market cap of $351.77 million, a P/E ratio of -21.88 and a beta of 1.72.

Brightcove (NASDAQ:BCOV) last released its quarterly earnings results on Thursday, April 26th. The software maker reported ($0.06) earnings per share for the quarter, hitting the consensus estimate of ($0.06). Brightcove had a negative net margin of 10.47% and a negative return on equity of 19.36%. The business had revenue of $41.20 million for the quarter, compared to analysts’ expectations of $40.19 million. During the same period in the previous year, the company earned ($0.08) earnings per share. The firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. analysts predict that Brightcove will post -0.23 EPS for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Frontier Capital Management Co. LLC boosted its stake in Brightcove by 20.5% in the first quarter. Frontier Capital Management Co. LLC now owns 3,117,773 shares of the software maker’s stock valued at $21,669,000 after acquiring an additional 529,462 shares during the last quarter. BlackRock Inc. boosted its stake in Brightcove by 7.3% in the first quarter. BlackRock Inc. now owns 2,114,339 shares of the software maker’s stock valued at $14,696,000 after acquiring an additional 143,172 shares during the last quarter. Hawk Ridge Capital Management LP boosted its stake in Brightcove by 19.3% in the first quarter. Hawk Ridge Capital Management LP now owns 1,724,197 shares of the software maker’s stock valued at $11,983,000 after acquiring an additional 279,036 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Brightcove by 3.3% in the fourth quarter. Renaissance Technologies LLC now owns 1,549,600 shares of the software maker’s stock valued at $11,002,000 after acquiring an additional 49,000 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in Brightcove by 100.9% in the fourth quarter. Millennium Management LLC now owns 585,845 shares of the software maker’s stock valued at $4,159,000 after acquiring an additional 294,302 shares during the last quarter. Hedge funds and other institutional investors own 62.29% of the company’s stock.

About Brightcove

Brightcove Inc provides cloud-based services for video. The company offers Video Cloud, an online video platform that enables its customers to publish and distribute video to Internet-connected devices. Its Video Cloud platform offers various features and functionalities, such as uploading and encoding, content management, video player technology, multi-platform video experiences, live video streaming, distribution and syndication, social media, advertising and monetization, and analytics, as well as APIs, SDKs, and developer resources.

Receive News & Ratings for Brightcove Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brightcove and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply