Brightcove Lowered to Sector Perform at RBC Capital (BCOV)
Brightcove (NASDAQ:BCOV) was downgraded by RBC Capital from an “outperform” rating to a “sector perform” rating in a research note issued on Friday, TheFlyOnTheWall.com reports. They currently have a $13.00 price objective on the stock, up from their previous price objective of $9.00. RBC Capital’s price target would suggest a potential upside of 103.76% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Pacific Crest downgraded shares of Brightcove from an “outperform” rating to a “sector perform” rating in a research note on Friday. Separately, 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. Finally, 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. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $11.83.
Brightcove (NASDAQ:BCOV) opened at 6.38 on Friday. Brightcove has a 52-week low of $6.06 and a 52-week 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 announced its earnings results on Thursday, July 24th. The company reported ($0.04) EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted ($0.04) earnings per share. The company’s quarterly revenue was up 15.2% on a year-over-year basis. Analysts expect that Brightcove will post $-0.22 EPS for the current fiscal year.
Brightcove Inc, (NASDAQ:BCOV) is a provider of cloud-based solutions for publishing and distributing professional digital media.
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