Brightcove Inc (BCOV) Expected to Post Quarterly Sales of $39.55 Million

Equities research analysts expect Brightcove Inc (NASDAQ:BCOV) to report sales of $39.55 million for the current quarter, according to Zacks. Two analysts have issued estimates for Brightcove’s earnings, with estimates ranging from $39.50 million to $39.60 million. Brightcove reported sales of $38.63 million during the same quarter last year, which would suggest a positive year over year growth rate of 2.4%. The company is expected to report its next quarterly earnings report after the market closes on Thursday, February 22nd.

On average, analysts expect that Brightcove will report full year sales of $39.55 million for the current fiscal year, with estimates ranging from $155.31 million to $155.41 million. For the next year, analysts expect that the firm will report sales of $164.99 million per share, with estimates ranging from $162.97 million to $167.00 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that cover Brightcove.

BCOV has been the topic of several recent analyst reports. Northland Securities upgraded shares of Brightcove from a “market perform” rating to an “outperform” rating in a report on Friday, October 27th. Zacks Investment Research upgraded shares of Brightcove from a “sell” rating to a “hold” rating in a report on Tuesday, October 17th. Stifel Nicolaus lifted their target price on shares of Brightcove from $10.50 to $11.00 and gave the stock a “buy” rating in a report on Friday, October 27th. Finally, B. Riley reiterated a “hold” rating and issued a $7.25 target price on shares of Brightcove in a report on Friday, October 27th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $8.44.

Several large investors have recently bought and sold shares of BCOV. Rhumbline Advisers increased its holdings in shares of Brightcove by 6.9% during the 2nd quarter. Rhumbline Advisers now owns 37,181 shares of the software maker’s stock worth $231,000 after purchasing an additional 2,408 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Brightcove by 1.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 168,641 shares of the software maker’s stock worth $1,046,000 after purchasing an additional 2,098 shares during the period. Alliancebernstein L.P. increased its holdings in shares of Brightcove by 106.8% during 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 during the period. Teachers Advisors LLC increased its holdings in shares of Brightcove by 76.6% during the 2nd quarter. Teachers Advisors LLC now owns 85,520 shares of the software maker’s stock worth $530,000 after purchasing an additional 37,081 shares during the period. Finally, TIAA CREF Investment Management LLC increased its holdings in shares of Brightcove by 22.1% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 213,629 shares of the software maker’s stock worth $1,324,000 after purchasing an additional 38,706 shares during the period. Institutional investors own 62.75% of the company’s stock.

Brightcove (NASDAQ BCOV) opened at $6.70 on Wednesday. The company has a market cap of $226.84, a price-to-earnings ratio of -10.15 and a beta of 1.86. Brightcove has a twelve month low of $5.40 and a twelve month high of $9.30.

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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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