SeaChange International, Inc. (NASDAQ:SEAC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday. The brokerage presently has a $3.00 target price on the software maker’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 14.07% from the company’s previous close.
According to Zacks, “SeaChange International, Inc. develops, markets and supports products to manage, store and distribute digital video for television operators, broadcast and telecommunications companies. The company’s products utilize its proprietary distributed application software and standard industry components to automate the management and distribution of short- and long-form video streams including advertisements, movies, news updates and other video programming requiring precise, accurate and continuous execution. “
Separately, ValuEngine raised SeaChange International from a “strong sell” rating to a “sell” rating in a research note on Thursday, June 8th.
Shares of SeaChange International (NASDAQ:SEAC) opened at 2.63 on Wednesday. SeaChange International has a 12-month low of $2.05 and a 12-month high of $3.10. The stock’s market cap is $92.92 million. The stock’s 50 day moving average is $2.69 and its 200-day moving average is $2.57.
SeaChange International (NASDAQ:SEAC) last released its quarterly earnings results on Wednesday, September 6th. The software maker reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.03. The business had revenue of $17.20 million during the quarter, compared to the consensus estimate of $17.94 million. SeaChange International had a negative return on equity of 15.80% and a negative net margin of 54.54%. The business’s revenue was down 7.0% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.21) EPS. Equities analysts anticipate that SeaChange International will post ($0.01) EPS for the current fiscal year.
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Several large investors have recently added to or reduced their stakes in SEAC. Bank of New York Mellon Corp raised its stake in shares of SeaChange International by 3.5% during the 1st quarter. Bank of New York Mellon Corp now owns 211,892 shares of the software maker’s stock worth $526,000 after buying an additional 7,068 shares during the last quarter. Prudential Financial Inc. raised its stake in shares of SeaChange International by 13.7% during the 1st quarter. Prudential Financial Inc. now owns 95,500 shares of the software maker’s stock worth $237,000 after buying an additional 11,500 shares during the last quarter. Neuberger Berman Group LLC raised its stake in shares of SeaChange International by 4.7% during the 1st quarter. Neuberger Berman Group LLC now owns 2,485,409 shares of the software maker’s stock worth $6,164,000 after buying an additional 112,116 shares during the last quarter. Ariel Investments LLC raised its stake in shares of SeaChange International by 11.7% during the 1st quarter. Ariel Investments LLC now owns 4,616,607 shares of the software maker’s stock worth $11,449,000 after buying an additional 484,329 shares during the last quarter. Finally, VIEX Capital Advisors LLC raised its stake in shares of SeaChange International by 18.5% during the 1st quarter. VIEX Capital Advisors LLC now owns 3,875,956 shares of the software maker’s stock worth $9,612,000 after buying an additional 604,406 shares during the last quarter. 71.76% of the stock is owned by institutional investors and hedge funds.
SeaChange International Company Profile
SeaChange International, Inc (SeaChange) is engaged in the delivery of multiscreen video. The Company’s products and services facilitate the aggregation, licensing, management and distribution of video and advertising content for cable television system operators, telecommunications companies, satellite operators and media companies.
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