Wall Street analysts expect that Brightcove Inc (NASDAQ:BCOV) will report $41.60 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Brightcove’s earnings, with the lowest sales estimate coming in at $41.42 million and the highest estimate coming in at $41.70 million. Brightcove reported sales of $38.75 million during the same quarter last year, which indicates a positive year-over-year growth rate of 7.4%. The business is scheduled to issue its next quarterly earnings report on Wednesday, July 25th.
On average, analysts expect that Brightcove will report full year sales of $167.28 million for the current fiscal year, with estimates ranging from $166.41 million to $168.42 million. For the next financial year, analysts forecast that the company will post sales of $182.20 million per share, with estimates ranging from $180.25 million to $185.93 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Brightcove.
Brightcove (NASDAQ:BCOV) last announced its quarterly earnings data on Thursday, April 26th. The software maker reported ($0.06) EPS for the quarter, meeting 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 during the quarter, compared to the consensus estimate of $40.19 million. During the same period in the previous year, the business earned ($0.08) earnings per share. The company’s revenue was up 9.6% on a year-over-year basis.
Several research analysts have commented on BCOV shares. ValuEngine upgraded shares of Brightcove from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 1st. Zacks Investment Research downgraded shares of Brightcove from a “buy” rating to a “hold” rating in a research report on Wednesday, April 25th. Dougherty & Co boosted their price objective on shares of Brightcove from $11.00 to $14.00 and gave the company a “buy” rating in a research report on Thursday, May 17th. Stifel Nicolaus restated a “buy” rating and set a $13.00 price objective (up from $11.00) on shares of Brightcove in a research report on Friday, June 1st. Finally, LADENBURG THALM/SH SH restated a “buy” rating and set a $13.00 price objective on shares of Brightcove in a research report on Wednesday, June 6th. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $10.38.
Brightcove traded down $0.05, hitting $10.05, during trading on Wednesday, according to Marketbeat.com. 190,650 shares of the stock traded hands, compared to its average volume of 223,308. Brightcove has a twelve month low of $5.97 and a twelve month high of $10.65. The company has a market cap of $360.61 million, a P/E ratio of -20.94 and a beta of 1.67.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Wells Fargo & Company MN grew its stake in shares of Brightcove by 78.2% during the third quarter. Wells Fargo & Company MN now owns 38,624 shares of the software maker’s stock worth $278,000 after buying an additional 16,946 shares during the last quarter. Balter Liquid Alternatives LLC grew its stake in shares of Brightcove by 31.6% during the fourth quarter. Balter Liquid Alternatives LLC now owns 150,967 shares of the software maker’s stock worth $1,072,000 after buying an additional 36,251 shares during the last quarter. Emancipation Management LLC grew its stake in shares of Brightcove by 50.8% during the fourth quarter. Emancipation Management LLC now owns 224,254 shares of the software maker’s stock worth $1,592,000 after buying an additional 75,502 shares during the last quarter. Frontier Capital Management Co. LLC grew its stake in shares of Brightcove by 20.5% during the first quarter. Frontier Capital Management Co. LLC now owns 3,117,773 shares of the software maker’s stock worth $21,669,000 after buying an additional 529,462 shares during the last quarter. Finally, Citadel Advisors LLC bought a new stake in shares of Brightcove during the fourth quarter worth $124,000. 62.50% of the stock is currently owned by hedge funds and other institutional investors.
Brightcove Company Profile
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.
Get a free copy of the Zacks research report on Brightcove (BCOV)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.