Northland Securities restated their buy rating on shares of Brightcove (NASDAQ:BCOV) in a research note issued to investors on Monday, AnalystRatings.com reports.
“We attended NAB 2019 last week, visiting with new senior BCOV managers (sales, marketing, product). NAB is the main industry event for broadcasters, and heavily focused on video tech and services. We came away impressed with the strategy and recent actions of senior management, and have more confidence BCOV can produce accelerating bookings growth in 2H.”,” the firm’s analyst wrote.
Several other equities analysts also recently issued reports on BCOV. BidaskClub upgraded shares of Brightcove from a sell rating to a hold rating in a report on Thursday, April 11th. Zacks Investment Research upgraded shares of Brightcove from a hold rating to a buy rating and set a $9.00 price objective on the stock in a report on Tuesday, February 5th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $12.35.
Brightcove (NASDAQ:BCOV) last posted its quarterly earnings data on Wednesday, February 13th. The software maker reported ($0.04) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by ($0.01). Brightcove had a negative net margin of 8.51% and a negative return on equity of 13.67%. The company had revenue of $40.86 million for the quarter, compared to analyst estimates of $41.23 million. During the same quarter last year, the company earned $0.04 EPS. The business’s revenue was up 1.9% compared to the same quarter last year. On average, equities analysts predict that Brightcove will post -0.16 EPS for the current fiscal year.
In other Brightcove news, CEO Jeff Ray purchased 5,000 shares of the business’s stock in a transaction that occurred on Monday, February 25th. The shares were 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 owns 25,000 shares in the company, valued at $211,250. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 4.90% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its position in Brightcove by 8.8% in the 4th quarter. Geode Capital Management LLC now owns 415,943 shares of the software maker’s stock worth $2,928,000 after purchasing an additional 33,707 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Brightcove by 117.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 225,107 shares of the software maker’s stock worth $1,585,000 after purchasing an additional 121,386 shares in the last quarter. Segall Bryant & Hamill LLC boosted its position in Brightcove by 21.0% in the 4th quarter. Segall Bryant & Hamill LLC now owns 124,930 shares of the software maker’s stock worth $880,000 after purchasing an additional 21,644 shares in the last quarter. Metropolitan Life Insurance Co. NY lifted its position 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 buying an additional 9,480 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in shares of Brightcove by 144.2% during the 4th quarter. Bank of America Corp DE now owns 20,779 shares of the software maker’s stock valued at $146,000 after buying an additional 12,271 shares in the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.
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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