Analysts Set Brightcove Inc. (NASDAQ:BCOV) Price Target at $12.50
Brightcove Inc. (NASDAQ:BCOV) has been given an average recommendation of “Buy” by the seven research firms that are presently covering the company. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month target price among brokers that have covered the stock in the last year is $12.50.
BCOV has been the topic of a number of recent research reports. B. Riley reissued a “buy” rating and issued a $11.00 target price on shares of Brightcove in a research report on Wednesday, August 3rd. Dougherty & Co lifted their target price on Brightcove from $10.50 to $13.00 and gave the company a “buy” rating in a research report on Friday, July 29th. Zacks Investment Research raised Brightcove from a “hold” rating to a “buy” rating and set a $9.50 target price on the stock in a research report on Tuesday, June 28th. Finally, Noble Financial initiated coverage on Brightcove in a research report on Friday, June 24th. They issued a “buy” rating on the stock.
Shares of Brightcove (NASDAQ:BCOV) opened at 13.05 on Wednesday. Brightcove has a 1-year low of $4.70 and a 1-year high of $13.60. The firm’s 50-day moving average is $12.50 and its 200 day moving average is $8.80. The company’s market cap is $431.54 million.
Brightcove (NASDAQ:BCOV) last announced its earnings results on Thursday, July 28th. The company reported ($0.01) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.01). Brightcove had a negative return on equity of 3.54% and a negative net margin of 3.59%. The business had revenue of $36.96 million for the quarter, compared to analyst estimates of $36.07 million. During the same quarter last year, the firm earned ($0.04) EPS. Brightcove’s revenue for the quarter was up 12.5% compared to the same quarter last year. Equities analysts expect that Brightcove will post $0.08 EPS for the current fiscal year.
In other news, VP Christopher Stagno sold 5,000 shares of Brightcove stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $12.97, for a total transaction of $64,850.00. Following the completion of the transaction, the vice president now directly owns 22,603 shares in the company, valued at approximately $293,160.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Scott Kurnit sold 29,700 shares of Brightcove stock in a transaction that occurred on Wednesday, September 14th. The stock was sold at an average price of $12.36, for a total value of $367,092.00. Following the transaction, the director now owns 92,194 shares of the company’s stock, valued at $1,139,517.84. The disclosure for this sale can be found here. Company insiders own 12.70% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of BCOV. AQR Capital Management LLC increased its position 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 valued at $828,000 after buying an additional 34,771 shares in the last quarter. Panagora Asset Management Inc. increased its stake in Brightcove by 2.4% in the second quarter. Panagora Asset Management Inc. now owns 496,475 shares of the company’s stock valued at $4,368,000 after buying an additional 11,510 shares during the period. Millrace Asset Group Inc. purchased a new stake in Brightcove during the second quarter valued at about $2,270,000. G2 Investment Partners Management LLC purchased a new stake in Brightcove during the second quarter valued at about $1,646,000. Finally, Bridgeway Capital Management Inc. increased its stake in Brightcove by 35.7% in the second quarter. Bridgeway Capital Management Inc. now owns 225,978 shares of the company’s stock valued at $1,989,000 after buying an additional 59,391 shares during the period. Institutional investors 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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