Brightcove Inc (NASDAQ:BCOV) has been assigned a consensus recommendation of “Buy” from the eight research firms that are currently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $13.00.
Several research analysts have commented on the company. BidaskClub downgraded Brightcove from a “buy” rating to a “hold” rating in a research note on Friday, December 28th. Zacks Investment Research downgraded Brightcove from a “buy” rating to a “hold” rating in a research note on Monday. B. Riley raised Brightcove from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $7.00 to $12.00 in a research note on Tuesday, December 11th. Finally, ValuEngine raised Brightcove from a “hold” rating to a “buy” rating in a research note on Tuesday, December 11th.
NASDAQ BCOV traded up $0.02 during trading on Tuesday, hitting $7.54. 49,900 shares of the company’s stock were exchanged, compared to its average volume of 104,389. The company has a market cap of $269.76 million, a price-to-earnings ratio of -15.71 and a beta of 1.00. Brightcove has a fifty-two week low of $6.30 and a fifty-two week high of $10.75.
Brightcove (NASDAQ:BCOV) last issued its earnings results on Thursday, November 1st. The software maker reported ($0.03) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.02. The firm had revenue of $41.10 million during the quarter, compared to the consensus estimate of $41.82 million. Brightcove had a negative return on equity of 12.75% and a negative net margin of 7.79%. The business’s quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.06) earnings per share. As a group, equities research analysts forecast that Brightcove will post -0.32 EPS for the current year.
In other news, Director Deborah M. Besemer sold 14,000 shares of the business’s stock in a transaction dated Wednesday, November 7th. The stock was sold at an average price of $7.42, for a total transaction of $103,880.00. Following the sale, the director now directly owns 100,696 shares in the company, valued at $747,164.32. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 4.90% of the company’s stock.
Several large investors have recently added to or reduced their stakes in BCOV. Cubist Systematic Strategies LLC bought a new stake in shares of Brightcove during the second quarter worth about $115,000. MetLife Investment Advisors LLC grew its holdings in shares of Brightcove by 671.8% during the second quarter. MetLife Investment Advisors LLC now owns 17,189 shares of the software maker’s stock worth $166,000 after purchasing an additional 14,962 shares during the last quarter. California Public Employees Retirement System bought a new stake in shares of Brightcove during the second quarter worth about $191,000. King Luther Capital Management Corp bought a new stake in shares of Brightcove during the third quarter worth about $223,000. Finally, Russell Investments Group Ltd. grew its holdings in shares of Brightcove by 1,099.7% during the second quarter. Russell Investments Group Ltd. now owns 44,700 shares of the software maker’s stock worth $431,000 after purchasing an additional 40,974 shares during the last quarter. Institutional investors own 78.93% of the company’s stock.
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.
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