Brightcove Inc (BCOV) Expected to Announce Quarterly Sales of $40.16 Million

Brokerages expect Brightcove Inc (NASDAQ:BCOV) to announce $40.16 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Brightcove’s earnings, with estimates ranging from $40.01 million to $40.25 million. Brightcove posted sales of $37.57 million during the same quarter last year, which would indicate a positive year over year growth rate of 6.9%. The firm is expected to report its next quarterly earnings report on Thursday, May 3rd.

According to Zacks, analysts expect that Brightcove will report full year sales of $40.16 million for the current financial year, with estimates ranging from $165.15 million to $167.50 million. For the next financial year, analysts expect that the firm will post sales of $180.71 million per share, with estimates ranging from $179.00 million to $184.04 million. Zacks’ sales calculations are an average based on a survey of analysts that follow Brightcove.

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Brightcove (NASDAQ:BCOV) last announced its quarterly earnings data on Thursday, February 22nd. The software maker reported $0.04 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.03) by $0.07. Brightcove had a negative return on equity of 23.20% and a negative net margin of 12.52%. The business had revenue of $40.10 million for the quarter, compared to the consensus estimate of $39.52 million. During the same period in the previous year, the business earned $0.03 earnings per share. The business’s revenue was up 3.9% on a year-over-year basis.

Several equities analysts have recently commented on BCOV shares. BidaskClub upgraded Brightcove from a “sell” rating to a “hold” rating in a research report on Friday, February 23rd. Zacks Investment Research downgraded Brightcove from a “buy” rating to a “hold” rating in a research report on Friday, March 9th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. Brightcove has an average rating of “Hold” and an average price target of $8.31.

Several hedge funds have recently modified their holdings of the company. California State Teachers Retirement System increased its holdings in shares of Brightcove by 1.9% in the second quarter. California State Teachers Retirement System now owns 60,125 shares of the software maker’s stock worth $373,000 after purchasing an additional 1,100 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Brightcove by 30.2% in the second quarter. Dimensional Fund Advisors LP now owns 16,234 shares of the software maker’s stock worth $101,000 after purchasing an additional 3,764 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Brightcove by 22.8% in the second quarter. The Manufacturers Life Insurance Company now owns 29,591 shares of the software maker’s stock worth $183,000 after purchasing an additional 5,494 shares during the last quarter. Mcclain Value Management LLC increased its holdings in shares of Brightcove by 3.4% in the fourth quarter. Mcclain Value Management LLC now owns 312,210 shares of the software maker’s stock worth $2,217,000 after purchasing an additional 10,292 shares during the last quarter. Finally, Parametric Portfolio Associates LLC increased its holdings in shares of Brightcove by 71.3% in the second quarter. Parametric Portfolio Associates LLC now owns 30,532 shares of the software maker’s stock worth $189,000 after purchasing an additional 12,713 shares during the last quarter. 62.10% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Brightcove stock traded up $0.05 during trading hours on Friday, hitting $7.05. The company’s stock had a trading volume of 89,406 shares, compared to its average volume of 158,183. Brightcove has a 12-month low of $5.40 and a 12-month high of $8.90. The company has a market capitalization of $242.92, a price-to-earnings ratio of -14.69 and a beta of 1.76.

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Brightcove Company Profile

Brightcove Inc provides cloud-based services for video. The company offers Video Cloud, an online video platform that enables its customers to publish and distribute video to Internet-connected devices. Its Video Cloud platform offers various features and functionalities, such as uploading and encoding, content management, video player technology, multi-platform video experiences, live video streaming, distribution and syndication, social media, advertising and monetization, and analytics, as well as APIs, SDKs, and developer resources.

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