Brightcove Inc. (NASDAQ:BCOV) has been given an average rating of “Hold” by the seven brokerages that are covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $9.75.
BCOV has been the subject of a number of recent research reports. Stifel Nicolaus decreased their price objective on Brightcove from $13.00 to $10.50 and set a “buy” rating for the company in a report on Friday, May 5th. TheStreet downgraded Brightcove from a “c-” rating to a “d+” rating in a report on Tuesday, May 9th. Northland Securities set a $7.00 price objective on Brightcove and gave the company a “hold” rating in a report on Friday, July 21st. B. Riley downgraded Brightcove to a “neutral” rating and set a $5.50 price objective for the company. in a report on Wednesday, May 10th. Finally, Zacks Investment Research cut shares of Brightcove from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st.
Institutional investors have recently added to or reduced their stakes in the company. Nuveen Asset Management LLC boosted its position in Brightcove by 162.8% in the first quarter. Nuveen Asset Management LLC now owns 752,554 shares of the software maker’s stock worth $6,698,000 after buying an additional 466,225 shares during the period. Horrell Capital Management Inc. bought a new position in Brightcove during the second quarter worth about $2,325,000. Pembroke Management LTD boosted its position in Brightcove by 32.3% in the first quarter. Pembroke Management LTD now owns 1,183,800 shares of the software maker’s stock worth $10,535,000 after buying an additional 289,300 shares during the period. Millrace Asset Group Inc. bought a new position in Brightcove during the first quarter worth about $1,766,000. Finally, AQR Capital Management LLC boosted its position in Brightcove by 56.6% in the fourth quarter. AQR Capital Management LLC now owns 414,774 shares of the software maker’s stock worth $3,339,000 after buying an additional 149,830 shares during the period. 68.52% of the stock is currently owned by institutional investors.
Brightcove (NASDAQ:BCOV) last posted its quarterly earnings data on Wednesday, July 26th. The software maker reported ($0.16) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.14) by $0.02. The company had revenue of $38.75 million during the quarter, compared to analyst estimates of $37.13 million. Brightcove had a negative net margin of 12.22% and a negative return on equity of 19.65%. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.01) earnings per share. Analysts predict that Brightcove will post ($0.37) EPS for the current fiscal year.
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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