Zacks: Analysts Expect Brightcove Inc (BCOV) Will Post Quarterly Sales of $41.72 Million

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Equities analysts forecast that Brightcove Inc (NASDAQ:BCOV) will post sales of $41.72 million for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Brightcove’s earnings. The highest sales estimate is $41.80 million and the lowest is $41.67 million. Brightcove reported sales of $39.49 million during the same quarter last year, which indicates a positive year over year growth rate of 5.6%. The firm is expected to issue its next earnings report on Thursday, October 25th.

On average, analysts expect that Brightcove will report full year sales of $167.21 million for the current year, with estimates ranging from $166.76 million to $167.87 million. For the next financial year, analysts expect that the firm will report sales of $179.98 million per share, with estimates ranging from $177.75 million to $181.65 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Brightcove.

Brightcove (NASDAQ:BCOV) last issued its quarterly earnings results on Thursday, July 26th. The software maker reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.01). Brightcove had a negative return on equity of 15.19% and a negative net margin of 9.04%. The company had revenue of $41.70 million for the quarter, compared to analyst estimates of $41.63 million. During the same period last year, the company posted ($0.16) EPS. The business’s revenue for the quarter was up 7.5% on a year-over-year basis.

BCOV has been the subject of several research analyst reports. BidaskClub lowered shares of Brightcove from a “hold” rating to a “sell” rating in a research report on Thursday, July 12th. Zacks Investment Research lowered shares of Brightcove from a “hold” rating to a “sell” rating in a research report on Tuesday, July 31st. ValuEngine raised shares of Brightcove from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 1st. Stifel Nicolaus reaffirmed a “buy” rating and set a $13.00 price target (up previously from $11.00) on shares of Brightcove in a research report on Friday, June 1st. Finally, LADENBURG THALM/SH SH reiterated a “buy” rating and set a $13.00 price objective on shares of Brightcove in a research note on Wednesday, June 6th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $11.05.

BCOV stock traded down $0.05 on Tuesday, hitting $8.20. 2,658 shares of the company were exchanged, compared to its average volume of 126,698. Brightcove has a twelve month low of $6.30 and a twelve month high of $10.75. The firm has a market capitalization of $292.73 million, a price-to-earnings ratio of -17.08 and a beta of 1.54.

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

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. EAM Investors LLC purchased a new stake in Brightcove during the second quarter worth approximately $1,541,000. BlackRock Inc. boosted its stake in shares of Brightcove by 7.3% in the first quarter. BlackRock Inc. now owns 2,114,339 shares of the software maker’s stock valued at $14,696,000 after purchasing an additional 143,172 shares during the period. Northern Trust Corp boosted its stake in shares of Brightcove by 2.9% in the first quarter. Northern Trust Corp now owns 394,421 shares of the software maker’s stock valued at $2,741,000 after purchasing an additional 11,065 shares during the period. Tenzing Global Management LLC boosted its stake in shares of Brightcove by 23.1% in the second quarter. Tenzing Global Management LLC now owns 1,750,000 shares of the software maker’s stock valued at $16,888,000 after purchasing an additional 328,100 shares during the period. Finally, Trigran Investments Inc. boosted its stake in shares of Brightcove by 174.7% in the second quarter. Trigran Investments Inc. now owns 793,337 shares of the software maker’s stock valued at $7,656,000 after purchasing an additional 504,492 shares during the period. Institutional investors own 75.06% of the company’s stock.

About Brightcove

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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