Zacks Investment Research upgraded shares of Brightcove (NASDAQ:BCOV) from a hold rating to a buy rating in a research report report published on Wednesday. They currently have $8.00 target price on the software maker’s stock.
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. “
Separately, BidaskClub raised shares of Brightcove from a sell rating to a hold rating in a research note on Friday, February 23rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $8.31.
Brightcove (NASDAQ:BCOV) last posted its earnings results on Thursday, February 22nd. The software maker reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.07. The firm had revenue of $40.10 million during the quarter, compared to analyst estimates of $39.52 million. Brightcove had a negative net margin of 12.52% and a negative return on equity of 23.20%. Brightcove’s revenue was up 3.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.03 EPS. research analysts forecast that Brightcove will post -0.23 earnings per share for the current year.
Several hedge funds have recently added to or reduced their stakes in the business. California State Teachers Retirement System raised its position in shares of Brightcove by 1.9% during the 2nd quarter. California State Teachers Retirement System now owns 60,125 shares of the software maker’s stock worth $373,000 after buying an additional 1,100 shares in the last quarter. Voya Investment Management LLC raised its position in shares of Brightcove by 18.8% during the 2nd quarter. Voya Investment Management LLC now owns 21,932 shares of the software maker’s stock worth $136,000 after buying an additional 3,465 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Brightcove by 30.2% during 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 in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Brightcove by 22.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 29,591 shares of the software maker’s stock worth $183,000 after buying an additional 5,494 shares in the last quarter. Finally, Mcclain Value Management LLC raised its position in shares of Brightcove by 3.4% during the 4th quarter. Mcclain Value Management LLC now owns 312,210 shares of the software maker’s stock worth $2,217,000 after buying an additional 10,292 shares in the last quarter. Institutional investors own 63.38% 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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