Brightcove (BCOV) – Research Analysts’ Recent Ratings Updates

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A number of firms have modified their ratings and price targets on shares of Brightcove (NASDAQ: BCOV) recently:

  • 4/30/2019 – Brightcove was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Brightcove Inc. is engaged in providing cloud content services for publishing and distributing professional digital media. Its products include Brightcove Video Cloud, an online video platform and Brightcove App Cloud, a software application development and management platform. The Company provides its solutions to media, retail, technology, financial services companies, governments, educational institutions, and non-profit organizations in North America, Europe, and the Asia Pacific. Brightcove Inc. is headquartered in Cambridge, Massachusetts. “
  • 4/29/2019 – Brightcove was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $11.00 price target on the stock. According to Zacks, “Brightcove Inc. is engaged in providing cloud content services for publishing and distributing professional digital media. Its products include Brightcove Video Cloud, an online video platform and Brightcove App Cloud, a software application development and management platform. The Company provides its solutions to media, retail, technology, financial services companies, governments, educational institutions, and non-profit organizations in North America, Europe, and the Asia Pacific. Brightcove Inc. is headquartered in Cambridge, Massachusetts. “
  • 4/26/2019 – Brightcove was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 4/16/2019 – Brightcove was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Brightcove Inc. is engaged in providing cloud content services for publishing and distributing professional digital media. Its products include Brightcove Video Cloud, an online video platform and Brightcove App Cloud, a software application development and management platform. The Company provides its solutions to media, retail, technology, financial services companies, governments, educational institutions, and non-profit organizations in North America, Europe, and the Asia Pacific. Brightcove Inc. is headquartered in Cambridge, Massachusetts. “
  • 4/15/2019 – Brightcove had its “buy” rating reaffirmed by analysts at Northland Securities. They wrote, “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.””
  • 4/11/2019 – Brightcove was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 4/5/2019 – Brightcove was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 3/7/2019 – Brightcove was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.

NASDAQ:BCOV traded up $0.08 during trading hours on Friday, reaching $9.98. 5,494 shares of the company were exchanged, compared to its average volume of 126,892. The stock has a market capitalization of $376.51 million, a PE ratio of -36.96 and a beta of 1.11. Brightcove Inc has a twelve month low of $6.88 and a twelve month high of $10.75.

Brightcove (NASDAQ:BCOV) last posted its quarterly earnings data on Wednesday, April 24th. The software maker reported ($0.05) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.07) by $0.02. The company had revenue of $41.80 million during the quarter, compared to analysts’ expectations of $40.22 million. Brightcove had a negative net margin of 10.13% and a negative return on equity of 13.98%. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same period in the prior year, the business posted ($0.06) earnings per share. Equities research analysts predict that Brightcove Inc will post -0.13 earnings per share for the current year.

In related news, CEO Jeff Ray acquired 5,000 shares of Brightcove stock in a transaction on Monday, February 25th. The stock was bought at an average cost of $8.45 per share, for a total transaction of $42,250.00. Following the completion of the transaction, the chief executive officer now owns 25,000 shares of the company’s stock, valued at approximately $211,250. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.90% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its stake in Brightcove by 731.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 103,721 shares of the software maker’s stock valued at $871,000 after purchasing an additional 91,251 shares during the last quarter. MetLife Investment Advisors LLC boosted its stake in Brightcove by 55.2% during 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. AQR Capital Management LLC boosted its stake in Brightcove by 74.8% during the 3rd quarter. AQR Capital Management LLC now owns 487,825 shares of the software maker’s stock valued at $4,098,000 after purchasing an additional 208,760 shares during the last quarter. Vanguard Group Inc. boosted its stake in Brightcove by 17.5% during 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. Finally, Vanguard Group Inc boosted its stake in Brightcove by 17.5% during 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 and hedge funds own 77.38% 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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