Brightcove Inc. (NASDAQ:BCOV) Receives Average Rating of “Hold” from Analysts
Shares of Brightcove Inc. (NASDAQ:BCOV) have received an average recommendation of “Hold” from the seven analysts that are covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and two have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $9.75.
A number of equities analysts have commented on the stock. TheStreet raised shares of Brightcove from a “d+” rating to a “c-” rating in a research report on Tuesday, March 28th. B. Riley cut shares of Brightcove from a “buy” rating to a “neutral” rating and set a $5.50 price objective for the company. in a research report on Friday, May 5th. Stifel Nicolaus reduced their price objective on shares of Brightcove from $13.00 to $10.50 and set a “buy” rating for the company in a research report on Friday, May 5th. Zacks Investment Research cut shares of Brightcove from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 18th. Finally, Northland Securities reaffirmed a “hold” rating and set a $7.00 price objective on shares of Brightcove in a research report on Friday.
Brightcove (NASDAQ:BCOV) traded down 2.22% during trading on Friday, reaching $6.60. 446,880 shares of the company traded hands. The company’s 50-day moving average is $6.29 and its 200 day moving average is $7.36. The company’s market cap is $222.97 million. Brightcove has a 12 month low of $5.40 and a 12 month high of $13.80.
Brightcove (NASDAQ:BCOV) last released its quarterly earnings data on Thursday, May 4th. The software maker reported ($0.13) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.09) by $0.04. Brightcove had a negative return on equity of 12.25% and a negative net margin of 8.88%. The company had revenue of $37.60 million for the quarter, compared to the consensus estimate of $37.38 million. During the same period last year, the firm earned $0.02 earnings per share. The company’s revenue for the quarter was up 3.6% compared to the same quarter last year. On average, analysts anticipate that Brightcove will post ($0.26) earnings per share for the current year.
Large investors have recently made changes to their positions in the stock. Nuveen Asset Management LLC boosted its stake in shares of Brightcove by 162.8% in the first quarter. Nuveen Asset Management LLC now owns 752,554 shares of the software maker’s stock worth $6,698,000 after buying an additional 466,225 shares during the last quarter. Horrell Capital Management Inc. acquired a new stake in shares of Brightcove during the second quarter worth about $2,325,000. Pembroke Management LTD boosted its stake in shares of Brightcove by 32.3% in the first quarter. Pembroke Management LTD now owns 1,183,800 shares of the software maker’s stock worth $10,535,000 after buying an additional 289,300 shares during the last quarter. Millrace Asset Group Inc. acquired a new stake in shares of Brightcove during the first quarter worth about $1,766,000. Finally, AQR Capital Management LLC boosted its stake in shares of Brightcove by 56.6% in the fourth quarter. AQR Capital Management LLC now owns 414,774 shares of the software maker’s stock worth $3,339,000 after buying an additional 149,830 shares during the last quarter. 74.74% of the stock is owned by institutional investors.
Brightcove Inc is a global provider of cloud-based services for video. The Company’s products and services include Brightcove Video Cloud (Video Cloud), Brightcove Zencoder (Zencoder), Brightcove Once (Once), Brightcove Perform (Perform), Brightcove Video Marketing Suite (Video Marketing Suite), Brightcove Lift (Lift), Brightcove OTT Flow (OTT Flow) and Brightcove Enterprise Video Suite (Enterprise Video Suite), among others.
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