Brightcove Inc. (NASDAQ:BCOV)’s share price traded up 1.3% on Monday after Northland Securities upgraded the stock from a market perform rating to an outperform rating. The company traded as high as $8.05 and last traded at $7.95. 239,685 shares were traded during mid-day trading, an increase of 21% from the average session volume of 198,677 shares. The stock had previously closed at $7.85.
A number of other brokerages have also recently weighed in on BCOV. Zacks Investment Research raised Brightcove from a “sell” rating to a “hold” rating in a research note on Tuesday, October 17th. Stifel Nicolaus lifted their target price on Brightcove from $10.50 to $11.00 and gave the company a “buy” rating in a research note on Friday. Finally, B. Riley reaffirmed a “hold” rating and set a $7.25 target price on shares of Brightcove in a research note on Friday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. Brightcove has an average rating of “Hold” and an average target price of $8.42.
Large investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew its stake in Brightcove by 30.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 16,234 shares of the software maker’s stock valued at $101,000 after acquiring an additional 3,764 shares in the last quarter. Voya Investment Management LLC grew its stake in Brightcove by 18.8% during the 2nd quarter. Voya Investment Management LLC now owns 21,932 shares of the software maker’s stock valued at $136,000 after acquiring an additional 3,465 shares in the last quarter. Russell Investments Group Ltd. grew its stake in Brightcove by 7.9% during the 1st quarter. Russell Investments Group Ltd. now owns 15,600 shares of the software maker’s stock valued at $139,000 after acquiring an additional 1,143 shares in the last quarter. Alliancebernstein L.P. grew its stake in Brightcove by 106.8% during the 2nd quarter. Alliancebernstein L.P. now owns 24,400 shares of the software maker’s stock valued at $151,000 after acquiring an additional 12,600 shares in the last quarter. Finally, Parametric Portfolio Associates LLC grew its stake in Brightcove by 14.0% during the 1st quarter. Parametric Portfolio Associates LLC now owns 17,819 shares of the software maker’s stock valued at $159,000 after acquiring an additional 2,183 shares in the last quarter. 61.70% of the stock is currently owned by institutional investors.
The firm’s 50-day moving average is $7.13 and its 200-day moving average is $6.85. The firm’s market cap is $269.61 million.
Brightcove (NASDAQ:BCOV) last announced its quarterly earnings results on Thursday, October 26th. The software maker reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $37.99 million. During the same period in the prior year, the company earned $0.02 earnings per share. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. Equities analysts forecast that Brightcove Inc. will post ($0.33) earnings per share for the current year.
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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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