Brightcove Inc. (NASDAQ:BCOV) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday. The brokerage presently has a $9.00 target price on the software maker’s stock. Zacks Investment Research‘s target price points to a potential upside of 12.50% from the stock’s previous close.

According to Zacks, “Brightcove Inc. is engaged in providing cloud content services for publishing and distributing professional digital media. Its products include Brightcove Video Cloud, an online video platform and Brightcove App Cloud, a software application development and management platform. The Company provides its solutions to media, retail, technology, financial services companies, governments, educational institutions, and non-profit organizations in North America, Europe, and the Asia Pacific. Brightcove Inc. is headquartered in Cambridge, Massachusetts. “

A number of other equities analysts have also recently commented on the company. Northland Securities upgraded Brightcove from a “market perform” rating to an “outperform” rating in a report on Friday, October 27th. Stifel Nicolaus raised their target price on Brightcove from $10.50 to $11.00 and gave the company a “buy” rating in a report on Friday, October 27th. Finally, B. Riley reiterated a “hold” rating and issued a $7.25 price objective on shares of Brightcove in a research note on Friday, October 27th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $8.56.

Brightcove (NASDAQ:BCOV) last announced its earnings results on Thursday, October 26th. The software maker reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.04. Brightcove had a negative return on equity of 25.11% and a negative net margin of 14.58%. The company had revenue of $39.50 million during the quarter, compared to analysts’ expectations of $37.99 million. During the same period last year, the business posted $0.02 EPS. Brightcove’s revenue for the quarter was up 2.9% on a year-over-year basis.

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Several institutional investors and hedge funds have recently made changes to their positions in the company. Fondren Management LP boosted its stake in shares of Brightcove by 156.0% in the 2nd quarter. Fondren Management LP now owns 192,034 shares of the software maker’s stock valued at $1,191,000 after buying an additional 117,034 shares during the period. California State Teachers Retirement System boosted its stake in shares of Brightcove by 1.9% in the 2nd quarter. California State Teachers Retirement System now owns 60,125 shares of the software maker’s stock valued at $373,000 after buying an additional 1,100 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Brightcove by 22.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 29,591 shares of the software maker’s stock valued at $183,000 after buying an additional 5,494 shares during the period. State Street Corp boosted its stake in shares of Brightcove by 14.0% in the 2nd quarter. State Street Corp now owns 580,822 shares of the software maker’s stock valued at $3,599,000 after buying an additional 71,126 shares during the period. Finally, Cramer Rosenthal Mcglynn LLC boosted its stake in shares of Brightcove by 27.7% in the 2nd quarter. Cramer Rosenthal Mcglynn LLC now owns 1,845,590 shares of the software maker’s stock valued at $11,443,000 after buying an additional 400,029 shares during the period. Institutional investors and hedge funds own 61.70% of the company’s stock.

About Brightcove

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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