Brightcove Price Target Cut to $13.00 by Analysts at RBC Capital (BCOV)
Equities research analysts at RBC Capital decreased their price objective on shares of Brightcove (NASDAQ:BCOV) from $16.00 to $13.00 in a research note issued to investors on Thursday, Analyst Ratings Network.com reports. The firm currently has an “outperform” rating on the stock. RBC Capital’s target price would suggest a potential upside of 52.58% from the stock’s previous close.
Brightcove (NASDAQ:BCOV) traded down 1.16% during mid-day trading on Thursday, hitting $8.52. 1,076,806 shares of the company’s stock traded hands. Brightcove has a 52 week low of $6.93 and a 52 week high of $16.25. The stock has a 50-day moving average of $9.34 and a 200-day moving average of $11.79. The company’s market cap is $272.8 million.
Brightcove (NASDAQ:BCOV) last released its earnings data on Wednesday, April 30th. The company reported ($0.02) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.09) by $0.07. The company had revenue of $31.10 million for the quarter, compared to the consensus estimate of $29.06 million. Analysts expect that Brightcove will post $-0.35 EPS for the current fiscal year.
Separately, analysts at Zacks downgraded shares of Brightcove from an “outperform” rating to a “neutral” rating in a research note on Tuesday, February 4th. They now have a $13.90 price target on the stock.
Brightcove Inc, (NASDAQ:BCOV) is a provider of cloud-based solutions for publishing and distributing professional digital media.
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