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Brightcove (NASDAQ:BCOV) was downgraded by research analysts at Raymond James from a “strong-buy” rating to a “market perform” rating in a report released on Friday, TheFlyOnTheWall.com reports.

Shares of Brightcove (NASDAQ:BCOV) traded down 37.88% during mid-day trading on Friday, hitting $6.38. 7,226,957 shares of the company’s stock traded hands. Brightcove has a 52 week low of $6.06 and a 52 week high of $16.25. The stock has a 50-day moving average of $9.93 and a 200-day moving average of $9.79. The company’s market cap is $204.8 million.

Brightcove (NASDAQ:BCOV) last released its earnings data on Thursday, July 24th. The company reported ($0.04) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.11) by $0.07. The company had revenue of $31.00 million for the quarter, compared to the consensus estimate of $30.23 million. During the same quarter last year, the company posted ($0.04) earnings per share. Brightcove’s revenue was up 15.2% compared to the same quarter last year. Analysts expect that Brightcove will post $-0.22 EPS for the current fiscal year.

BCOV has been the subject of a number of other recent research reports. Analysts at RBC Capital downgraded shares of Brightcove from an “outperform” rating to a “sector perform” rating in a research note on Friday. They now have a $13.00 price target on the stock, up previously from $9.00. Separately, analysts at Pacific Crest downgraded shares of Brightcove from an “outperform” rating to a “sector perform” rating in a research note on Friday. Finally, analysts at B. Riley downgraded shares of Brightcove from a “buy” rating to a “neutral” rating in a research note on Friday. They now have a $7.50 price target on the stock, down previously from $15.00. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Brightcove presently has a consensus rating of “Hold” and a consensus target price of $11.83.

Brightcove Inc, (NASDAQ:BCOV) is a provider of cloud-based solutions for publishing and distributing professional digital media.

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