Zacks Investment Research upgraded shares of Brightcove Inc. (NASDAQ:BCOV) from a hold rating to a buy rating in a research note issued to investors on Tuesday. The brokerage currently has $8.50 price target on the software maker’s stock.
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. “
Other research analysts also recently issued research reports about the company. Stifel Nicolaus increased their target price on Brightcove from $10.50 to $11.00 and gave the company a buy rating in a report on Friday, October 27th. Northland Securities set a $7.00 target price on Brightcove and gave the company a hold rating in a report on Friday, July 21st. Finally, B. Riley reissued a hold rating and issued a $7.25 target price on shares of Brightcove in a report on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. Brightcove currently has a consensus rating of Hold and an average price target of $8.44.
Brightcove (NASDAQ BCOV) opened at $7.35 on Tuesday. Brightcove has a 1-year low of $5.40 and a 1-year high of $9.30.
Brightcove (NASDAQ:BCOV) last posted its earnings results on Thursday, October 26th. The software maker reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.04. Brightcove had a negative return on equity of 25.11% and a negative net margin of 14.58%. The company had revenue of $39.50 million for the quarter, compared to the consensus estimate of $37.99 million. During the same quarter in the prior year, the company earned $0.02 earnings per share. Brightcove’s revenue was up 2.9% on a year-over-year basis. analysts forecast that Brightcove will post -0.54 EPS for the current fiscal year.
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Several hedge funds and other institutional investors have recently bought and sold shares of BCOV. Dimensional Fund Advisors LP raised its stake in shares of Brightcove by 30.2% in the second quarter. Dimensional Fund Advisors LP now owns 16,234 shares of the software maker’s stock worth $101,000 after buying an additional 3,764 shares during the period. Voya Investment Management LLC raised its stake in shares of Brightcove by 18.8% in the second quarter. Voya Investment Management LLC now owns 21,932 shares of the software maker’s stock worth $136,000 after buying an additional 3,465 shares during the period. Russell Investments Group Ltd. raised its stake in shares of Brightcove by 7.9% in the first quarter. Russell Investments Group Ltd. now owns 15,600 shares of the software maker’s stock worth $139,000 after buying an additional 1,143 shares during the period. Alliancebernstein L.P. raised its stake in shares of Brightcove by 106.8% in the second quarter. Alliancebernstein L.P. now owns 24,400 shares of the software maker’s stock worth $151,000 after buying an additional 12,600 shares during the period. Finally, Parametric Portfolio Associates LLC raised its stake in shares of Brightcove by 14.0% in the first quarter. Parametric Portfolio Associates LLC now owns 17,819 shares of the software maker’s stock worth $159,000 after buying an additional 2,183 shares during the period. 60.88% of the stock is currently owned by hedge funds and other institutional investors.
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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