Brightcove Inc. (NASDAQ:BCOV) was upgraded by Northland Securities from a “market perform” rating to an “outperform” rating in a report issued on Friday.
Several other research analysts have also weighed in on BCOV. B. Riley reaffirmed a “neutral” rating and issued a $5.50 target price on shares of Brightcove in a research report on Thursday, July 27th. Zacks Investment Research lowered Brightcove from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Finally, Stifel Nicolaus upped their target price on Brightcove from $10.50 to $11.00 and gave the stock a “buy” rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. Brightcove currently has a consensus rating of “Hold” and an average target price of $8.42.
Brightcove (NASDAQ:BCOV) traded up 11.35% during trading on Friday, hitting $7.85. The stock had a trading volume of 840,028 shares. The company’s market cap is $269.61 million. Brightcove has a 12-month low of $5.40 and a 12-month high of $11.50. The company has a 50 day moving average of $7.10 and a 200-day moving average of $6.87.
Brightcove (NASDAQ:BCOV) last issued its earnings results on Thursday, October 26th. The software maker reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.04. Brightcove had a negative return on equity of 24.41% and a negative net margin of 14.58%. The company had revenue of $39.50 million for the quarter, compared to analyst estimates of $37.99 million. During the same period in the prior year, the firm posted $0.02 EPS. The business’s revenue was up 2.9% compared to the same quarter last year. On average, equities analysts predict that Brightcove will post ($0.37) EPS for the current year.
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A number of hedge funds have recently modified their holdings of BCOV. Russell Investments Group Ltd. increased its position in Brightcove by 7.9% in the 1st 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 last quarter. Wells Fargo & Company MN boosted its stake in shares of Brightcove by 4.0% during the 1st quarter. Wells Fargo & Company MN now owns 26,806 shares of the software maker’s stock worth $239,000 after acquiring an additional 1,035 shares in the last quarter. Parametric Portfolio Associates LLC boosted its stake in shares of Brightcove by 14.0% during the 1st quarter. Parametric Portfolio Associates LLC now owns 17,819 shares of the software maker’s stock worth $159,000 after acquiring an additional 2,183 shares in the last quarter. Prudential Financial Inc. boosted its stake in shares of Brightcove by 1.8% during the 1st quarter. Prudential Financial Inc. now owns 121,060 shares of the software maker’s stock worth $1,077,000 after acquiring an additional 2,100 shares in the last quarter. Finally, American International Group Inc. boosted its stake in shares of Brightcove by 7.1% during the 1st quarter. American International Group Inc. now owns 18,452 shares of the software maker’s stock worth $164,000 after acquiring an additional 1,223 shares in the last quarter. 61.77% of the stock is currently owned by institutional investors.
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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