ValuEngine Downgrades Brightcove (NASDAQ:BCOV) to Buy

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Brightcove (NASDAQ:BCOV) was downgraded by research analysts at ValuEngine from a “strong-buy” rating to a “buy” rating in a research note issued on Thursday, ValuEngine reports.

Several other brokerages have also issued reports on BCOV. Zacks Investment Research lowered Brightcove from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. BidaskClub upgraded Brightcove from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 27th. Northland Securities restated a “buy” rating and issued a $14.00 target price on shares of Brightcove in a research note on Thursday, May 16th. Finally, B. Riley restated a “buy” rating on shares of Brightcove in a research note on Tuesday, July 23rd. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $13.00.

Brightcove stock traded down $0.21 during mid-day trading on Thursday, reaching $12.29. 177,117 shares of the company’s stock were exchanged, compared to its average volume of 187,262. The business has a fifty day simple moving average of $10.91. The company has a market capitalization of $477.72 million, a price-to-earnings ratio of -45.52 and a beta of 0.85. Brightcove has a one year low of $6.88 and a one year high of $12.82. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.82 and a quick ratio of 0.82.

Brightcove (NASDAQ:BCOV) last issued its earnings results on Wednesday, July 24th. The software maker reported ($0.08) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.10) by $0.02. The firm had revenue of $47.58 million for the quarter, compared to analyst estimates of $45.74 million. Brightcove had a negative return on equity of 12.20% and a negative net margin of 10.70%. The business’s revenue was up 14.2% on a year-over-year basis. During the same period in the previous year, the company posted ($0.07) earnings per share. As a group, equities research analysts anticipate that Brightcove will post -0.08 earnings per share for the current year.

Several large investors have recently added to or reduced their stakes in BCOV. BNP Paribas Arbitrage SA raised its stake in shares of Brightcove by 68,190.9% during the 1st quarter. BNP Paribas Arbitrage SA now owns 7,512 shares of the software maker’s stock valued at $63,000 after purchasing an additional 7,501 shares during the period. Marshall Wace North America L.P. bought a new stake in shares of Brightcove during the 1st quarter valued at $74,000. Metropolitan Life Insurance Co. NY raised 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 purchasing an additional 9,480 shares during the period. Bank of America Corp DE raised its stake 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 purchasing an additional 12,271 shares during the period. Finally, State Board of Administration of Florida Retirement System raised its stake in shares of Brightcove by 8.7% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 35,527 shares of the software maker’s stock valued at $299,000 after purchasing an additional 2,851 shares during the period. Institutional investors own 78.87% of the company’s stock.

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.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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