Brightcove Inc. (BCOV) Receives Consensus Recommendation of “Hold” from Brokerages
Brightcove Inc. (NASDAQ:BCOV) has been given an average recommendation of “Hold” by the six brokerages that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $7.67.
A number of brokerages recently commented on BCOV. Northland Securities set a $7.00 price objective on shares of Brightcove and gave the stock a “hold” rating in a research note on Friday, July 21st. Zacks Investment Research lowered Brightcove from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Finally, B. Riley reaffirmed a “neutral” rating and set a $5.50 target price on shares of Brightcove in a research report on Tuesday, August 1st.
Several hedge funds have recently added to or reduced their stakes in BCOV. Russell Investments Group Ltd. boosted its holdings in shares of Brightcove by 7.9% in the 1st quarter. Russell Investments Group Ltd. now owns 15,600 shares of the software maker’s stock valued at $139,000 after buying an additional 1,143 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Brightcove by 30.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 16,234 shares of the software maker’s stock worth $101,000 after buying an additional 3,764 shares during the last quarter. Parametric Portfolio Associates LLC grew its position in shares of Brightcove by 14.0% in the 1st quarter. Parametric Portfolio Associates LLC now owns 17,819 shares of the software maker’s stock worth $159,000 after buying an additional 2,183 shares during the last quarter. Citadel Advisors LLC grew its position in shares of Brightcove by 212.1% in the 1st quarter. Citadel Advisors LLC now owns 18,167 shares of the software maker’s stock worth $162,000 after buying an additional 34,367 shares during the last quarter. Finally, American International Group Inc. grew its position in shares of Brightcove by 7.1% in the 1st quarter. American International Group Inc. now owns 18,452 shares of the software maker’s stock worth $164,000 after buying an additional 1,223 shares during the last quarter. 62.24% of the stock is owned by institutional investors and hedge funds.
Brightcove (NASDAQ:BCOV) opened at 7.25 on Wednesday. The stock’s 50 day moving average price is $6.98 and its 200 day moving average price is $7.02. The company’s market capitalization is $249.00 million. Brightcove has a one year low of $5.40 and a one year high of $13.80.
Brightcove (NASDAQ:BCOV) last released its quarterly earnings data on Wednesday, July 26th. The software maker reported ($0.16) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.14) by ($0.02). Brightcove had a negative net margin of 12.22% and a negative return on equity of 19.65%. The business had revenue of $38.75 million for the quarter, compared to the consensus estimate of $37.13 million. During the same quarter in the prior year, the business posted ($0.01) earnings per share. Brightcove’s revenue for the quarter was up 5.4% on a year-over-year basis. Equities analysts anticipate that Brightcove will post ($0.37) EPS for the current fiscal year.
Brightcove Inc is a global provider of cloud-based services for video. The Company’s products and services include Brightcove Video Cloud (Video Cloud), Brightcove Zencoder (Zencoder), Brightcove Once (Once), Brightcove Perform (Perform), Brightcove Video Marketing Suite (Video Marketing Suite), Brightcove Lift (Lift), Brightcove OTT Flow (OTT Flow) and Brightcove Enterprise Video Suite (Enterprise Video Suite), among others.
Receive News & Stock Ratings for Brightcove Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brightcove Inc. and related stocks with our FREE daily email newsletter.