Zacks Investment Research Upgrades Brightcove Inc. (BCOV) to Buy
Brightcove Inc. (NASDAQ:BCOV) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The brokerage presently has a $8.50 price target on the software maker’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 14.86% from the stock’s current price.
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 analysts have also recently weighed in on the company. Northland Securities raised Brightcove from a “market perform” rating to an “outperform” rating in a research report on Friday, October 27th. B. Riley reaffirmed a “hold” rating and issued a $7.25 price target on shares of Brightcove in a research report on Friday, October 27th. Finally, Stifel Nicolaus boosted their price target on Brightcove from $10.50 to $11.00 and gave the stock a “buy” rating in a research report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $8.44.
Shares of Brightcove (BCOV) traded down $0.15 during trading hours on Tuesday, hitting $7.40. The company’s stock had a trading volume of 105,162 shares, compared to its average volume of 195,158. Brightcove has a 12 month low of $5.40 and a 12 month high of $9.30.
Brightcove (NASDAQ:BCOV) last announced its quarterly earnings results on Thursday, October 26th. The software maker reported ($0.06) earnings per share for the quarter, topping 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 quarter in the previous year, the firm earned $0.02 earnings per share. The business’s quarterly revenue was up 2.9% compared to the same quarter last year. sell-side analysts expect that Brightcove will post -0.54 EPS for the current fiscal year.
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Institutional investors have recently bought and sold shares of the company. Russell Investments Group Ltd. increased its stake in shares of Brightcove by 7.9% in the first 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 during the period. Dimensional Fund Advisors LP increased its stake in shares of Brightcove by 30.2% in the second quarter. Dimensional Fund Advisors LP now owns 16,234 shares of the software maker’s stock worth $101,000 after purchasing an additional 3,764 shares during the period. Parametric Portfolio Associates LLC increased its stake in shares of Brightcove by 14.0% in the first 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 during the period. American International Group Inc. increased its stake in shares of Brightcove by 7.1% in the first quarter. American International Group Inc. now owns 18,452 shares of the software maker’s stock worth $164,000 after purchasing an additional 1,223 shares during the period. Finally, Voya Investment Management LLC increased its stake in shares of Brightcove by 18.8% in the second 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 during the period. Institutional investors and hedge funds own 60.88% of the company’s stock.
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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