Analysts Set Brightcove Inc (BCOV) PT at $12.35

Share on StockTwits

Shares of Brightcove Inc (NASDAQ:BCOV) have earned a consensus rating of “Buy” from the eight research firms that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $12.35.

A number of research analysts have issued reports on BCOV shares. Zacks Investment Research lowered shares of Brightcove from a “buy” rating to a “hold” rating in a report on Thursday, January 10th. BidaskClub raised shares of Brightcove from a “hold” rating to a “buy” rating in a research note on Friday, February 8th.

NASDAQ:BCOV traded down $0.01 on Friday, reaching $8.61. The stock had a trading volume of 57,893 shares, compared to its average volume of 105,151. The firm has a market cap of $315.88 million, a price-to-earnings ratio of -31.89 and a beta of 1.04. Brightcove has a 12-month low of $6.86 and a 12-month 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 during the quarter, compared to analysts’ expectations of $41.23 million. Brightcove had a negative net margin of 8.51% and a negative return on equity of 13.67%. 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 earnings per share. As a group, equities analysts predict 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 company’s stock in a transaction dated Monday, February 25th. The stock was bought at an average price of $8.45 per share, with a total value of $42,250.00. Following the purchase, the chief executive officer now directly owns 25,000 shares in the company, valued at approximately $211,250. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 4.90% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of BCOV. Metropolitan Life Insurance Co. NY increased its stake in shares of Brightcove by 404.8% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 11,822 shares of the software maker’s stock valued at $83,000 after acquiring an additional 9,480 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in Brightcove during the 4th quarter worth approximately $104,000. Bank of America Corp DE increased its position in Brightcove by 144.2% during the 4th quarter. Bank of America Corp DE now owns 20,779 shares of the software maker’s stock worth $146,000 after purchasing an additional 12,271 shares in the last quarter. King Luther Capital Management Corp acquired a new stake in Brightcove during the 3rd quarter worth approximately $223,000. Finally, MetLife Investment Advisors LLC increased its position in Brightcove by 55.2% during the 3rd quarter. MetLife Investment Advisors LLC now owns 26,669 shares of the software maker’s stock worth $224,000 after purchasing an additional 9,480 shares in the last quarter. 80.03% of the stock is owned by institutional investors.

About Brightcove

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.

Read More: Index Funds

Receive News & Ratings for Brightcove Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brightcove and related companies with MarketBeat.com's FREE daily email newsletter.