Brightcove Inc (BCOV) Receives Consensus Recommendation of “Hold” from Analysts
Brightcove Inc (NASDAQ:BCOV) has received an average rating of “Hold” from the six research firms that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $8.92.
Several equities research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Brightcove from a “hold” rating to a “buy” rating and set a $8.50 price target for the company in a research note on Tuesday, November 7th. Northland Securities upgraded shares of Brightcove from a “market perform” rating to an “outperform” rating in a research note on Friday, October 27th. Stifel Nicolaus raised their price target on shares of Brightcove from $10.50 to $11.00 and gave the stock a “buy” rating in a research note on Friday, October 27th. Finally, B. Riley restated a “hold” rating and set a $7.25 price target on shares of Brightcove in a research note on Friday, October 27th.
Several hedge funds have recently modified their holdings of BCOV. Litespeed Management L.L.C. purchased a new stake in shares of Brightcove during the 3rd quarter worth approximately $8,570,000. Cooper Creek Partners Management LLC increased its stake in shares of Brightcove by 60.8% during the 2nd quarter. Cooper Creek Partners Management LLC now owns 1,204,357 shares of the software maker’s stock worth $7,467,000 after purchasing an additional 455,504 shares during the last quarter. Cramer Rosenthal Mcglynn LLC grew its stake in 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 in the last quarter. Discovery Group I LLC purchased a new position in Brightcove in the 3rd quarter valued at approximately $1,763,000. Finally, Emancipation Management LLC purchased a new position in Brightcove in the 3rd quarter valued at approximately $1,071,000. Institutional investors own 62.36% of the company’s stock.
Brightcove (NASDAQ:BCOV) last issued its quarterly earnings results on Thursday, October 26th. The software maker reported ($0.06) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.10) by $0.04. Brightcove had a negative net margin of 14.58% and a negative return on equity of 25.11%. The company had revenue of $39.50 million during the quarter, compared to analyst estimates of $37.99 million. During the same quarter last year, the business posted $0.02 EPS. Brightcove’s quarterly revenue was up 2.9% compared to the same quarter last year. equities analysts anticipate that Brightcove will post -0.54 earnings per share for the current year.
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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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