B. Riley Downgrades Brightcove to Neutral (BCOV)
Brightcove (NASDAQ:BCOV) was downgraded by equities researchers at B. Riley from a “buy” rating to a “neutral” rating in a research report issued on Friday, TheFlyOnTheWall.com reports. They currently have a $7.50 target price on the stock, down from their previous target price of $15.00. B. Riley’s target price indicates a potential upside of 17.55% from the company’s current price.
Brightcove (NASDAQ:BCOV) opened at 6.38 on Friday. Brightcove has a one year low of $6.06 and a one year high of $16.25. The stock’s 50-day moving average is $9.93 and its 200-day moving average is $9.79. The company’s market cap is $204.8 million.
Brightcove (NASDAQ:BCOV) last posted its quarterly earnings results 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 Zacks downgraded shares of Brightcove from an “outperform” rating to a “neutral” rating in a research note on Tuesday, July 1st. They now have a $11.80 price target on the stock. Finally, analysts at Raymond James reiterated a “strong-buy” rating on shares of Brightcove in a research note on Thursday, May 1st. They now have a $14.00 price target on the stock. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Brightcove has a consensus rating of “Hold” and an average 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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