Brightcove Inc. (BCOV) Cut to “Hold” at Zacks Investment Research
Zacks Investment Research downgraded shares of Brightcove Inc. (NASDAQ:BCOV) from a buy rating to a hold rating in a research report released on Monday morning.
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. “
BCOV has been the topic of several other reports. B. Riley reiterated a hold rating and issued a $7.25 price objective on shares of Brightcove in a report on Friday, October 27th. Northland Securities upgraded Brightcove from a market perform rating to an outperform rating in a report on Friday, October 27th. Finally, Stifel Nicolaus lifted their price objective on Brightcove from $10.50 to $11.00 and gave the stock a buy rating in a report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $8.44.
Brightcove (NASDAQ BCOV) opened at $7.40 on Monday. Brightcove has a 52 week low of $5.40 and a 52 week high of $9.30.
Brightcove (NASDAQ:BCOV) last announced its quarterly earnings results on Thursday, October 26th. The software maker reported ($0.06) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.10) by $0.04. Brightcove had a negative return on equity of 25.11% and a negative net margin of 14.58%. The firm had revenue of $39.50 million during the quarter, compared to analyst estimates of $37.99 million. During the same quarter in the previous year, the business earned $0.02 EPS. Brightcove’s revenue for the quarter was up 2.9% compared to the same quarter last year. equities analysts expect that Brightcove will post -0.54 EPS for the current fiscal year.
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Institutional investors have recently modified their holdings of the company. Fondren Management LP lifted its holdings in Brightcove by 156.0% in the second quarter. Fondren Management LP now owns 192,034 shares of the software maker’s stock valued at $1,191,000 after acquiring an additional 117,034 shares during the last quarter. California State Teachers Retirement System lifted its holdings in Brightcove by 1.9% in the second quarter. California State Teachers Retirement System now owns 60,125 shares of the software maker’s stock valued at $373,000 after acquiring an additional 1,100 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Brightcove by 22.8% in the second quarter. The Manufacturers Life Insurance Company now owns 29,591 shares of the software maker’s stock valued at $183,000 after acquiring an additional 5,494 shares during the last quarter. State Street Corp lifted its holdings in Brightcove by 14.0% in the second quarter. State Street Corp now owns 580,822 shares of the software maker’s stock valued at $3,599,000 after acquiring an additional 71,126 shares during the last quarter. Finally, Cramer Rosenthal Mcglynn LLC lifted its holdings in Brightcove by 27.7% in the second quarter. Cramer Rosenthal Mcglynn LLC now owns 1,845,590 shares of the software maker’s stock valued at $11,443,000 after acquiring an additional 400,029 shares during the last quarter. Institutional investors and hedge funds own 60.88% of the company’s stock.
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.
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