Brightcove Inc. (BCOV) Announces Quarterly Earnings Results
Brightcove Inc. (NASDAQ:BCOV) posted its earnings results on Wednesday. The software maker reported ($0.16) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.14) by $0.02, Bloomberg Earnings reports. Brightcove had a negative return on equity of 12.25% and a negative net margin of 8.88%. The firm had revenue of $38.75 million during the quarter, compared to analysts’ expectations of $37.13 million. During the same quarter in the prior year, the company earned ($0.01) earnings per share. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. Brightcove updated its Q3 guidance to ($0.11-0.10) EPS and its FY17 guidance to ($0.39-0.34) EPS.
Brightcove (NASDAQ:BCOV) traded up 2.19% during mid-day trading on Wednesday, reaching $7.00. 271,431 shares of the company’s stock traded hands. The stock has a 50 day moving average of $6.37 and a 200 day moving average of $7.32. Brightcove has a 12-month low of $5.40 and a 12-month high of $13.80. The company’s market cap is $236.48 million.
BCOV has been the topic of several recent analyst reports. TheStreet upgraded shares of Brightcove from a “d+” rating to a “c-” rating in a research note on Tuesday, March 28th. Zacks Investment Research cut shares of Brightcove from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 18th. B. Riley cut shares of Brightcove from a “buy” rating to a “neutral” rating and set a $5.50 target price on the stock. in a research note on Friday, May 5th. Stifel Nicolaus lowered their target price on shares of Brightcove from $13.00 to $10.50 and set a “buy” rating on the stock in a research note on Friday, May 5th. Finally, ValuEngine cut shares of Brightcove from a “hold” rating to a “sell” rating in a research note on Friday, June 2nd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. Brightcove has a consensus rating of “Hold” and a consensus target price of $10.40.
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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