$37.80 Million in Sales Expected for Brightcove Inc. (BCOV) This Quarter
Equities research analysts expect that Brightcove Inc. (NASDAQ:BCOV) will post sales of $37.80 million for the current quarter, according to Zacks. Three analysts have issued estimates for Brightcove’s earnings, with the highest sales estimate coming in at $37.98 million and the lowest estimate coming in at $37.50 million. Brightcove reported sales of $38.39 million during the same quarter last year, which indicates a negative year over year growth rate of 1.5%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, November 1st.
According to Zacks, analysts expect that Brightcove will report full-year sales of $37.80 million for the current financial year, with estimates ranging from $152.50 million to $153.60 million. For the next fiscal year, analysts expect that the firm will post sales of $162.89 million per share, with estimates ranging from $158.94 million to $165.24 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that that provide coverage for Brightcove.
Brightcove (NASDAQ:BCOV) last announced its quarterly earnings data on Wednesday, July 26th. The software maker reported ($0.16) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.14) by ($0.02). The company had revenue of $38.75 million during the quarter, compared to analyst estimates of $37.13 million. Brightcove had a negative net margin of 12.22% and a negative return on equity of 19.65%. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter last year, the business earned ($0.01) EPS.
BCOV has been the topic of a number of recent analyst reports. Northland Securities restated a “hold” rating and set a $7.00 price objective on shares of Brightcove in a research note on Friday, September 1st. B. Riley restated a “neutral” rating and issued a $5.50 target price on shares of Brightcove in a research report on Tuesday, August 1st. Finally, Zacks Investment Research raised Brightcove from a “sell” rating to a “hold” rating in a research note on Thursday, September 28th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. Brightcove currently has an average rating of “Hold” and an average target price of $7.67.
Several institutional investors and hedge funds have recently added to or reduced their stakes in BCOV. Dimensional Fund Advisors LP grew its holdings in shares of Brightcove by 30.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 16,234 shares of the software maker’s stock worth $101,000 after acquiring an additional 3,764 shares during the last quarter. Voya Investment Management LLC increased its stake in Brightcove by 18.8% in the 2nd quarter. Voya Investment Management LLC now owns 21,932 shares of the software maker’s stock worth $136,000 after purchasing an additional 3,465 shares in the last quarter. Russell Investments Group Ltd. increased its stake in Brightcove by 7.9% in the 1st quarter. Russell Investments Group Ltd. now owns 15,600 shares of the software maker’s stock worth $139,000 after purchasing an additional 1,143 shares in the last quarter. Alliancebernstein L.P. increased its stake in Brightcove by 106.8% in the 2nd quarter. Alliancebernstein L.P. now owns 24,400 shares of the software maker’s stock worth $151,000 after purchasing an additional 12,600 shares in the last quarter. Finally, Parametric Portfolio Associates LLC increased its stake in Brightcove by 14.0% in the 1st quarter. Parametric Portfolio Associates LLC now owns 17,819 shares of the software maker’s stock worth $159,000 after purchasing an additional 2,183 shares in the last quarter. 62.24% of the stock is owned by institutional investors and hedge funds.
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Brightcove (NASDAQ BCOV) opened at 7.275 on Wednesday. Brightcove has a 12 month low of $5.40 and a 12 month high of $13.80. The firm’s 50-day moving average is $6.98 and its 200 day moving average is $7.02. The firm’s market capitalization is $249.86 million.
Brightcove Company Profile
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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