$37.80 Million in Sales Expected for Brightcove Inc. (BCOV) This Quarter
Wall Street brokerages expect Brightcove Inc. (NASDAQ:BCOV) to announce sales of $37.80 million for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Brightcove’s earnings. The highest sales estimate is $37.98 million and the lowest is $37.50 million. Brightcove posted sales of $38.39 million during the same quarter last year, which suggests a negative year over year growth rate of 1.5%. The company is scheduled to issue its next quarterly earnings results after the market closes on Thursday, October 26th.
On average, 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 forecast that the business will report sales of $162.89 million per share, with estimates ranging from $158.94 million to $165.24 million. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Brightcove.
Brightcove (NASDAQ:BCOV) last released its earnings results on Wednesday, July 26th. The software maker reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.02). Brightcove had a negative net margin of 12.22% and a negative return on equity of 19.65%. The firm had revenue of $38.75 million during the quarter, compared to analyst estimates of $37.13 million. During the same period in the previous year, the company earned ($0.01) earnings per share. Brightcove’s revenue was up 5.4% on a year-over-year basis.
A number of equities analysts have recently issued reports on the company. B. Riley restated a “neutral” rating and issued a $5.50 price target on shares of Brightcove in a research note on Thursday, July 27th. Zacks Investment Research downgraded Brightcove from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Finally, Northland Securities restated a “hold” rating and issued a $7.00 price target on shares of Brightcove in a research note on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $7.67.
Hedge funds have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. lifted its position in Brightcove by 7.9% during the first quarter. Russell Investments Group Ltd. now owns 15,600 shares of the software maker’s stock valued at $139,000 after purchasing an additional 1,143 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Brightcove by 30.2% during the second quarter. Dimensional Fund Advisors LP now owns 16,234 shares of the software maker’s stock valued at $101,000 after purchasing an additional 3,764 shares in the last quarter. Parametric Portfolio Associates LLC lifted its position in Brightcove by 14.0% during the first quarter. Parametric Portfolio Associates LLC now owns 17,819 shares of the software maker’s stock valued at $159,000 after purchasing an additional 2,183 shares in the last quarter. Citadel Advisors LLC lifted its position in Brightcove by 212.1% during the first quarter. Citadel Advisors LLC now owns 18,167 shares of the software maker’s stock valued at $162,000 after purchasing an additional 34,367 shares in the last quarter. Finally, American International Group Inc. lifted its position in Brightcove by 7.1% during the first quarter. American International Group Inc. now owns 18,452 shares of the software maker’s stock valued at $164,000 after purchasing an additional 1,223 shares in the last quarter. Hedge funds and other institutional investors own 62.24% of the company’s stock.
Brightcove (NASDAQ:BCOV) opened at 6.95 on Monday. The company has a 50 day moving average price of $7.07 and a 200 day moving average price of $6.92. The firm’s market capitalization is $238.70 million. Brightcove has a 52-week low of $5.40 and a 52-week high of $12.97.
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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