Brightcove Inc (BCOV) Receives $13.33 Average Target Price from Brokerages

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Shares of Brightcove Inc (NASDAQ:BCOV) have earned a consensus rating of “Hold” from the seven ratings firms that are presently covering the company, MarketBeat reports. One investment 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. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $13.33.

BCOV has been the topic of a number of analyst reports. BidaskClub upgraded Brightcove from a “strong sell” rating to a “sell” rating in a report on Tuesday, September 11th. Zacks Investment Research cut Brightcove from a “hold” rating to a “sell” rating in a report on Tuesday, September 25th. Finally, ValuEngine upgraded Brightcove from a “hold” rating to a “buy” rating in a report on Friday, September 28th.

In other Brightcove news, Director Deborah M. Besemer sold 14,000 shares of the stock in a transaction on Wednesday, November 7th. The stock was sold at an average price of $7.42, for a total transaction of $103,880.00. Following the sale, the director now owns 100,696 shares in the company, valued at approximately $747,164.32. The sale was disclosed in a legal filing with the SEC, which is available through this link. 4.90% of the stock is currently owned by corporate insiders.

Several hedge funds have recently bought and sold shares of BCOV. Acadian Asset Management LLC acquired a new stake in shares of Brightcove during the second quarter worth $115,000. EAM Investors LLC acquired a new stake in shares of Brightcove during the second quarter worth $1,541,000. EAM Global Investors LLC acquired a new stake in shares of Brightcove during the second quarter worth $1,084,000. Bank of New York Mellon Corp boosted its holdings in shares of Brightcove by 13.7% during the second quarter. Bank of New York Mellon Corp now owns 187,640 shares of the software maker’s stock worth $1,810,000 after purchasing an additional 22,631 shares during the last quarter. Finally, Strs Ohio boosted its holdings in shares of Brightcove by 27.9% during the second quarter. Strs Ohio now owns 40,300 shares of the software maker’s stock worth $388,000 after purchasing an additional 8,800 shares during the last quarter. Institutional investors and hedge funds own 78.97% of the company’s stock.

Shares of BCOV traded down $0.08 on Monday, reaching $7.03. The stock had a trading volume of 95,523 shares, compared to its average volume of 107,746. The stock has a market cap of $255.38 million, a P/E ratio of -14.65 and a beta of 1.15. Brightcove has a twelve month low of $6.30 and a twelve month high of $10.75.

Brightcove (NASDAQ:BCOV) last released its quarterly earnings results on Thursday, November 1st. The software maker reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.02. The business had revenue of $41.10 million for the quarter, compared to analysts’ expectations of $41.82 million. Brightcove had a negative return on equity of 12.75% and a negative net margin of 7.79%. The company’s revenue was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.06) EPS. As a group, equities analysts expect that Brightcove will post -0.32 earnings per share for the current fiscal 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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