Brightcove Inc. (NASDAQ:BCOV) has received an average recommendation of “Buy” from the seven brokerages that are presently covering the firm. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $12.50.
A number of brokerages have recently commented on BCOV. B. Riley reissued a “buy” rating and issued a $15.50 price target on shares of Brightcove in a research report on Tuesday. Dougherty & Co raised Brightcove from a “neutral” rating to a “buy” rating and set a $10.50 price target on the stock in a research report on Thursday, June 16th. Zacks Investment Research lowered shares of Brightcove from a “buy” rating to a “hold” rating in a report on Tuesday, August 9th. Finally, Noble Financial started coverage on shares of Brightcove in a report on Friday, June 24th. They issued a “buy” rating for the company.
Brightcove (NASDAQ:BCOV) opened at 13.05 on Wednesday. The firm’s market capitalization is $431.54 million. The firm has a 50-day moving average price of $12.50 and a 200 day moving average price of $8.80. Brightcove has a one year low of $4.70 and a one year high of $13.60.
Brightcove (NASDAQ:BCOV) last issued its quarterly earnings results on Thursday, July 28th. The company reported ($0.01) EPS for the quarter, hitting analysts’ consensus estimates of ($0.01). Brightcove had a negative return on equity of 3.54% and a negative net margin of 3.59%. The firm had revenue of $36.96 million for the quarter, compared to analysts’ expectations of $36.07 million. During the same period in the previous year, the firm posted ($0.04) EPS. The business’s revenue for the quarter was up 12.5% compared to the same quarter last year. Analysts anticipate that Brightcove will post $0.08 EPS for the current fiscal year.
In other Brightcove news, VP Christopher Stagno sold 5,000 shares of the business’s stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $12.97, for a total transaction of $64,850.00. Following the completion of the sale, the vice president now directly owns 22,603 shares in the company, valued at approximately $293,160.91. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Kevin R. Rhodes sold 15,092 shares of the business’s stock in a transaction on Tuesday, August 23rd. The shares were sold at an average price of $11.88, for a total transaction of $179,292.96. Following the sale, the insider now owns 103,436 shares of the company’s stock, valued at $1,228,819.68. The disclosure for this sale can be found here. Company insiders own 12.70% of the company’s stock.
A number of large investors have recently made changes to their positions in BCOV. AQR Capital Management LLC raised its stake in shares of Brightcove by 58.6% in the second quarter. AQR Capital Management LLC now owns 94,145 shares of the company’s stock worth $828,000 after buying an additional 34,771 shares in the last quarter. Panagora Asset Management Inc. raised its stake in shares of Brightcove by 2.4% in the second quarter. Panagora Asset Management Inc. now owns 496,475 shares of the company’s stock worth $4,368,000 after buying an additional 11,510 shares in the last quarter. Millrace Asset Group Inc. bought a new stake in shares of Brightcove during the second quarter worth $2,270,000. G2 Investment Partners Management LLC bought a new stake in shares of Brightcove during the second quarter worth $1,646,000. Finally, Bridgeway Capital Management Inc. raised its stake in shares of Brightcove by 35.7% in the second quarter. Bridgeway Capital Management Inc. now owns 225,978 shares of the company’s stock worth $1,989,000 after buying an additional 59,391 shares in the last quarter. Institutional investors and hedge funds own 56.33% of the company’s stock.
Brightcove Company Profile
Brightcove Inc is a provider of cloud-based services for video. The Company’s flagship product is Brightcove Video Cloud (Video Cloud), an online video platform. Its other products include Brightcove Zencoder (Zencoder), Brightcove Once (Once), Brightcove Gallery (Gallery), Brightcove Perform (Perform), Brightcove Video Marketing Suite (Video Marketing Suite) and Brightcove Lift (Lift).
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