Brightcove Inc (BCOV) Receives Consensus Recommendation of “Hold” from Analysts

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Shares of Brightcove Inc (NASDAQ:BCOV) have been assigned a consensus rating of “Hold” from the nine brokerages that are covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $11.81.

A number of research analysts recently commented on the company. BidaskClub cut Brightcove from a “hold” rating to a “sell” rating in a report on Thursday, July 12th. ValuEngine cut Brightcove from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 10th. Finally, Zacks Investment Research cut Brightcove from a “hold” rating to a “sell” rating in a report on Tuesday, September 25th.

In other news, CEO Jeff Ray purchased 20,000 shares of the firm’s stock in a transaction on Tuesday, August 14th. The shares were bought at an average cost of $8.09 per share, for a total transaction of $161,800.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 4.90% of the stock is owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the business. Acadian Asset Management LLC acquired a new position in Brightcove during the second quarter worth $115,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Brightcove during the second quarter worth $115,000. MetLife Investment Advisors LLC increased its position in shares of Brightcove by 671.8% during the second quarter. MetLife Investment Advisors LLC now owns 17,189 shares of the software maker’s stock worth $166,000 after acquiring an additional 14,962 shares during the period. California Public Employees Retirement System purchased a new stake in shares of Brightcove during the second quarter worth $191,000. Finally, Citigroup Inc. increased its position in shares of Brightcove by 927.5% during the first quarter. Citigroup Inc. now owns 35,008 shares of the software maker’s stock worth $243,000 after acquiring an additional 31,601 shares during the period. Institutional investors own 75.05% of the company’s stock.

BCOV traded down $0.12 during trading hours on Friday, reaching $7.82. The company’s stock had a trading volume of 126,707 shares, compared to its average volume of 198,613. Brightcove has a fifty-two week low of $6.30 and a fifty-two week high of $10.75. The stock has a market capitalization of $288.42 million, a PE ratio of -16.48 and a beta of 1.46.

Brightcove (NASDAQ:BCOV) last released its quarterly earnings data on Thursday, July 26th. The software maker reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01). Brightcove had a negative net margin of 9.04% and a negative return on equity of 15.19%. The business had revenue of $41.70 million during the quarter, compared to analyst estimates of $41.63 million. During the same quarter in the prior year, the company posted ($0.16) earnings per share. The company’s revenue was up 7.5% on a year-over-year basis. As a group, equities analysts predict that Brightcove will post -0.31 earnings per share for the current year.

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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Analyst Recommendations for Brightcove (NASDAQ:BCOV)

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