Brightcove (BCOV) Stock Rating Upgraded by BidaskClub

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Brightcove (NASDAQ:BCOV) was upgraded by equities research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday, BidAskClub reports.

Separately, Zacks Investment Research upgraded Brightcove from a “hold” rating to a “buy” rating and set a $8.00 target price for the company in a report on Tuesday, January 15th. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $12.35.

BCOV stock opened at $8.61 on Thursday. The stock has a market cap of $312.26 million, a price-to-earnings ratio of -31.89 and a beta of 1.04. Brightcove has a 1 year low of $6.86 and a 1 year high of $10.75.

Brightcove (NASDAQ:BCOV) last released its earnings results on Wednesday, February 13th. The software maker reported ($0.04) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.03) by ($0.01). The firm had revenue of $40.86 million for the quarter, compared to the consensus estimate of $41.23 million. Brightcove had a negative return on equity of 13.67% and a negative net margin of 8.51%. Brightcove’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter last year, the company posted $0.04 EPS. On average, equities analysts forecast that Brightcove will post -0.16 earnings per share for the current year.

In related news, CEO Jeff Ray acquired 5,000 shares of the firm’s stock in a transaction dated Monday, February 25th. The stock was bought at an average price of $8.45 per share, for a total transaction of $42,250.00. Following the acquisition, the chief executive officer now directly owns 25,000 shares of the company’s stock, valued at $211,250. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.90% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. AQR Capital Management LLC grew its holdings in shares of Brightcove by 74.8% in the 3rd quarter. AQR Capital Management LLC now owns 487,825 shares of the software maker’s stock valued at $4,098,000 after acquiring an additional 208,760 shares in the last quarter. King Luther Capital Management Corp grew its holdings in shares of Brightcove by 20.8% in the 4th quarter. King Luther Capital Management Corp now owns 32,000 shares of the software maker’s stock valued at $225,000 after acquiring an additional 5,500 shares in the last quarter. Horrell Capital Management Inc. lifted its stake in Brightcove by 60.3% in the 4th quarter. Horrell Capital Management Inc. now owns 408,859 shares of the software maker’s stock valued at $2,878,000 after purchasing an additional 153,859 shares during the last quarter. MetLife Investment Advisors LLC lifted its stake in Brightcove by 55.2% in the 3rd quarter. MetLife Investment Advisors LLC now owns 26,669 shares of the software maker’s stock valued at $224,000 after purchasing an additional 9,480 shares during the last quarter. Finally, Vanguard Group Inc lifted its stake in Brightcove by 17.5% in the 3rd quarter. Vanguard Group Inc now owns 1,926,082 shares of the software maker’s stock valued at $16,179,000 after purchasing an additional 286,537 shares during the last quarter. Institutional investors own 80.03% of the company’s stock.

Brightcove Company Profile

Brightcove Inc provides cloud-based services for video. It offers Video Cloud, an online video platform that enables its customers to publish and distribute video to Internet-connected devices. The company also provides Zencoder, a cloud-based video encoding service for file support, quality and control, speed and reliability, platform and security, and account and integration; SSAI, a cloud-based ad insertion and video stitching service; and Player, a cloud-based service for creating and managing video player experiences.

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