Brightcove Inc. (NASDAQ:BCOV) Given Average Rating of “Buy” by Brokerages

Brightcove Inc. (NASDAQ:BCOVGet Rating) has been assigned an average recommendation of “Buy” from the six brokerages that are covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $17.50.

BCOV has been the topic of a number of recent analyst reports. StockNews.com upgraded Brightcove from a “hold” rating to a “buy” rating in a research report on Sunday, May 15th. Lake Street Capital reaffirmed a “hold” rating and set a $9.00 price target (down from $14.00) on shares of Brightcove in a report on Thursday, February 17th. Zacks Investment Research raised shares of Brightcove from a “hold” rating to a “strong-buy” rating and set a $8.00 price objective for the company in a research note on Wednesday, May 4th. Finally, TheStreet cut shares of Brightcove from a “c” rating to a “d” rating in a research note on Friday, April 29th.

Shares of Brightcove stock opened at $7.05 on Friday. The company has a 50 day moving average of $7.30 and a 200-day moving average of $8.50. The company has a market cap of $292.94 million, a PE ratio of -235.00 and a beta of 0.79. Brightcove has a 1-year low of $6.52 and a 1-year high of $15.00.

Brightcove (NASDAQ:BCOVGet Rating) last issued its earnings results on Wednesday, April 27th. The software maker reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.05. Brightcove had a positive return on equity of 3.99% and a negative net margin of 0.65%. The firm had revenue of $53.38 million for the quarter, compared to the consensus estimate of $50.57 million. During the same quarter last year, the business posted $0.10 EPS. As a group, equities analysts predict that Brightcove will post -0.04 earnings per share for the current year.

In related news, Director Ritcha Ranjan bought 7,000 shares of the business’s stock in a transaction on Tuesday, March 8th. The shares were purchased at an average cost of $7.05 per share, with a total value of $49,350.00. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Edenbrook Capital, Llc purchased 16,000 shares of the firm’s stock in a transaction dated Monday, May 16th. The stock was bought at an average cost of $6.88 per share, with a total value of $110,080.00. Following the purchase, the insider now owns 4,773,446 shares of the company’s stock, valued at approximately $32,841,308.48. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 46,342 shares of company stock valued at $316,919. 3.70% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of BCOV. Credit Suisse AG raised its position in shares of Brightcove by 20.8% in the 3rd quarter. Credit Suisse AG now owns 19,554 shares of the software maker’s stock worth $226,000 after acquiring an additional 3,361 shares in the last quarter. Strs Ohio lifted its stake in Brightcove by 203.4% in the fourth quarter. Strs Ohio now owns 27,000 shares of the software maker’s stock valued at $275,000 after buying an additional 18,100 shares during the period. Metropolitan Life Insurance Co NY boosted its holdings in shares of Brightcove by 53.0% during the 3rd quarter. Metropolitan Life Insurance Co NY now owns 10,416 shares of the software maker’s stock worth $120,000 after buying an additional 3,607 shares in the last quarter. Dupont Capital Management Corp acquired a new stake in shares of Brightcove during the 4th quarter worth approximately $155,000. Finally, AXA S.A. bought a new stake in shares of Brightcove in the 3rd quarter valued at $1,687,000. Hedge funds and other institutional investors own 84.67% of the company’s stock.

About Brightcove (Get Rating)

Brightcove Inc provides cloud-based services for video. Its flagship product includes Video Cloud, an online video platform that enables its customers to publish and distribute video to Internet-connected devices. The company also offers Brightcove Live, a solution for live streaming; Brightcove Beacon, an application that enables companies to launch over-the-top video experiences on multiple monetization models; Brightcove Player, a video player technology with a cloud-based service for creating and managing experiences; and Zencoder, a cloud-based video encoding technology.

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