Brightcove (NASDAQ:BCOV) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The brokerage presently has a $8.00 price objective on the software maker’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 13.48% from the stock’s current price.
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. “
Separately, BidaskClub upgraded Brightcove from a “sell” rating to a “hold” rating in a research note on Friday, February 23rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $8.31.
Brightcove (NASDAQ:BCOV) last released its quarterly earnings data on Thursday, February 22nd. The software maker reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.07. The company had revenue of $40.10 million for the quarter, compared to the consensus estimate of $39.52 million. Brightcove had a negative return on equity of 23.20% and a negative net margin of 12.52%. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period last year, the business posted $0.03 EPS. research analysts forecast that Brightcove will post -0.23 earnings per share for the current fiscal year.
Hedge funds have recently bought and sold shares of the company. Litespeed Management L.L.C. acquired a new stake in shares of Brightcove in the third quarter valued at about $8,570,000. Wells Fargo & Company MN grew its stake in shares of Brightcove by 78.2% in the third quarter. Wells Fargo & Company MN now owns 38,624 shares of the software maker’s stock valued at $278,000 after buying an additional 16,946 shares in the last quarter. Discovery Group I LLC acquired a new stake in shares of Brightcove in the third quarter valued at about $1,763,000. Balter Liquid Alternatives LLC grew its stake in shares of Brightcove by 31.6% in the fourth quarter. Balter Liquid Alternatives LLC now owns 150,967 shares of the software maker’s stock valued at $1,072,000 after buying an additional 36,251 shares in the last quarter. Finally, Cramer Rosenthal Mcglynn LLC grew its stake in shares of Brightcove by 1.4% in the third quarter. Cramer Rosenthal Mcglynn LLC now owns 1,871,845 shares of the software maker’s stock valued at $13,477,000 after buying an additional 26,255 shares in the last quarter. Institutional investors and hedge funds own 62.80% 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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