Brightcove (NASDAQ:BCOV) Stock Passes Above Two Hundred Day Moving Average of $9.84

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Brightcove Inc (NASDAQ:BCOV) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $9.84 and traded as high as $12.29. Brightcove shares last traded at $12.20, with a volume of 2,701 shares traded.

A number of analysts have commented on the stock. Northland Securities reiterated a “buy” rating and issued a $14.00 price target on shares of Brightcove in a research note on Thursday, May 16th. B. Riley reaffirmed a “buy” rating on shares of Brightcove in a research report on Tuesday, July 23rd. Zacks Investment Research lowered shares of Brightcove from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. BidaskClub raised shares of Brightcove from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 27th. Finally, ValuEngine downgraded shares of Brightcove from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Brightcove has an average rating of “Buy” and an average target price of $13.00.

The firm’s 50-day moving average is $11.85 and its 200 day moving average is $9.92. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $467.78 million, a price-to-earnings ratio of -45.26 and a beta of 0.85.

Brightcove (NASDAQ:BCOV) last posted its earnings results on Wednesday, July 24th. The software maker reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.02. Brightcove had a negative net margin of 10.70% and a negative return on equity of 12.20%. The business had revenue of $47.58 million for the quarter, compared to the consensus estimate of $45.74 million. During the same period last year, the company earned ($0.07) EPS. The firm’s revenue was up 14.2% compared to the same quarter last year. Analysts predict that Brightcove Inc will post -0.08 EPS for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Tenzing Global Management LLC lifted its position in shares of Brightcove by 4.5% in the 2nd quarter. Tenzing Global Management LLC now owns 2,950,000 shares of the software maker’s stock worth $30,474,000 after purchasing an additional 127,357 shares during the period. Citadel Advisors LLC lifted its position in shares of Brightcove by 128.5% in the 2nd quarter. Citadel Advisors LLC now owns 45,200 shares of the software maker’s stock worth $467,000 after purchasing an additional 25,416 shares during the period. Morgan Stanley lifted its position in shares of Brightcove by 477.0% in the 2nd quarter. Morgan Stanley now owns 39,928 shares of the software maker’s stock worth $413,000 after purchasing an additional 33,008 shares during the period. Vanguard Group Inc. lifted its position in shares of Brightcove by 6.4% in the 2nd quarter. Vanguard Group Inc. now owns 1,913,253 shares of the software maker’s stock worth $19,764,000 after purchasing an additional 114,262 shares during the period. Finally, A.R.T. Advisors LLC acquired a new position in shares of Brightcove in the 2nd quarter worth approximately $142,000. Hedge funds and other institutional investors own 78.20% of the company’s stock.

Brightcove Company Profile (NASDAQ:BCOV)

Brightcove Inc provides cloud-based services for video. It offers Video Cloud, an online video platform that enables its customers to publish and distribute video to Internet-connected devices. The company also provides Zencoder, a cloud-based video encoding service for file support, quality and control, speed and reliability, platform and security, and account and integration; SSAI, a cloud-based ad insertion and video stitching service; and Player, a cloud-based service for creating and managing video player experiences.

Further Reading: Balanced Fund

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