Brightcove Inc. (NASDAQ:BCOV) has been assigned an average recommendation of “Buy” from the seven research firms that are covering the company. One investment analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $12.50.
Several research analysts have recently issued reports on BCOV shares. B. Riley restated a “buy” rating and issued a $15.50 price target on shares of Brightcove in a research report on Tuesday, September 27th. Dougherty & Co raised their price target on Brightcove from $10.50 to $13.00 and gave the stock a “buy” rating in a research report on Friday, July 29th. Zacks Investment Research lowered Brightcove from a “buy” rating to a “hold” rating in a research report on Tuesday, August 9th. Finally, Noble Financial started coverage on Brightcove in a research report on Friday, June 24th. They issued a “buy” rating on the stock.
Brightcove (NASDAQ:BCOV) last posted its quarterly earnings results on Thursday, July 28th. The company reported ($0.01) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ 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 period last year, the company earned ($0.04) EPS. The firm’s revenue was up 12.5% on a year-over-year basis.
In other Brightcove news, VP Christopher Stagno sold 5,000 shares of Brightcove stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $12.97, for a total value of $64,850.00. Following the sale, the vice president now owns 22,603 shares of the company’s stock, valued at approximately $293,160.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kevin R. Rhodes sold 15,092 shares of Brightcove stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $11.88, for a total value of $179,292.96. Following the completion of the sale, the insider now directly owns 103,436 shares in the company, valued at approximately $1,228,819.68. The disclosure for this sale can be found here. Corporate insiders own 12.70% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Gilder Gagnon Howe & Co. LLC purchased a new stake in Brightcove during the second quarter valued at about $5,324,000. State Street Corp increased its stake in Brightcove by 21.6% in the second quarter. State Street Corp now owns 562,467 shares of the company’s stock worth $4,955,000 after buying an additional 100,065 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 worth $4,368,000 after buying an additional 11,510 shares in the last quarter. Cortina Asset Management LLC bought a new stake in Brightcove during the second quarter worth about $4,145,000. Finally, BlackRock Institutional Trust Company N.A. increased its stake in Brightcove by 5.6% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 401,913 shares of the company’s stock worth $3,537,000 after buying an additional 21,146 shares in the last quarter. 56.33% of the stock is currently owned by hedge funds and other institutional investors.
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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