Brightcove Inc. (NASDAQ:BCOV) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday, November 7th. The brokerage presently has a $8.50 target price on the software maker’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 12.58% from the stock’s previous close.
According to Zacks, “Brightcove Inc. is engaged in providing cloud content services for publishing and distributing professional digital media. Its products include Brightcove Video Cloud, an online video platform and Brightcove App Cloud, a software application development and management platform. The Company provides its solutions to media, retail, technology, financial services companies, governments, educational institutions, and non-profit organizations in North America, Europe, and the Asia Pacific. Brightcove Inc. is headquartered in Cambridge, Massachusetts. “
A number of other equities research analysts have also recently issued reports on BCOV. Northland Securities set a $7.00 price objective on shares of Brightcove and gave the company a “hold” rating in a research note on Friday, July 21st. B. Riley reaffirmed a “neutral” rating and issued a $5.50 price objective on shares of Brightcove in a research note on Thursday, July 27th. Finally, Stifel Nicolaus increased their price target on shares of Brightcove from $10.50 to $11.00 and gave the company a “buy” rating in a research report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. Brightcove currently has an average rating of “Hold” and an average target price of $8.44.
Brightcove (NASDAQ:BCOV) last posted its earnings results on Thursday, October 26th. The software maker reported ($0.06) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.10) by $0.04. Brightcove had a negative net margin of 14.58% and a negative return on equity of 25.11%. The business had revenue of $39.50 million for the quarter, compared to analyst estimates of $37.99 million. During the same quarter in the prior year, the firm posted $0.02 EPS. Brightcove’s revenue was up 2.9% on a year-over-year basis. analysts forecast that Brightcove will post -0.54 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP increased its stake in shares of Brightcove by 30.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 16,234 shares of the software maker’s stock worth $101,000 after acquiring an additional 3,764 shares in the last quarter. Voya Investment Management LLC increased its stake in Brightcove by 18.8% during the 2nd quarter. Voya Investment Management LLC now owns 21,932 shares of the software maker’s stock valued at $136,000 after purchasing an additional 3,465 shares in the last quarter. Russell Investments Group Ltd. increased its stake in Brightcove by 7.9% during the 1st quarter. Russell Investments Group Ltd. now owns 15,600 shares of the software maker’s stock valued at $139,000 after purchasing an additional 1,143 shares in the last quarter. Alliancebernstein L.P. increased its stake in Brightcove by 106.8% during the 2nd quarter. Alliancebernstein L.P. now owns 24,400 shares of the software maker’s stock valued at $151,000 after purchasing an additional 12,600 shares in the last quarter. Finally, Parametric Portfolio Associates LLC increased its stake in Brightcove by 14.0% during the 1st quarter. Parametric Portfolio Associates LLC now owns 17,819 shares of the software maker’s stock valued at $159,000 after purchasing an additional 2,183 shares in the last quarter. Institutional investors and hedge funds own 57.70% of the company’s stock.
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Brightcove Company Profile
Brightcove Inc is a global provider of cloud-based services for video. The Company’s products and services include Brightcove Video Cloud (Video Cloud), Brightcove Zencoder (Zencoder), Brightcove Once (Once), Brightcove Perform (Perform), Brightcove Video Marketing Suite (Video Marketing Suite), Brightcove Lift (Lift), Brightcove OTT Flow (OTT Flow) and Brightcove Enterprise Video Suite (Enterprise Video Suite), among others.
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