StockNews.com Downgrades Brightcove (NASDAQ:BCOV) to Buy

Brightcove (NASDAQ:BCOV) was downgraded by equities research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report released on Monday.

Brightcove Price Performance

BCOV traded down $0.08 during trading on Monday, reaching $2.14. 176,586 shares of the stock were exchanged, compared to its average volume of 260,963. The business’s 50 day moving average price is $2.28 and its two-hundred day moving average price is $2.11. The company has a market capitalization of $95.40 million, a price-to-earnings ratio of -9.73 and a beta of 0.74. Brightcove has a 1 year low of $1.55 and a 1 year high of $4.40.

Brightcove (NASDAQ:BCOV) last posted its earnings results on Wednesday, May 8th. The software maker reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.02. The company had revenue of $50.48 million for the quarter. Brightcove had a negative return on equity of 7.87% and a negative net margin of 4.74%. On average, analysts anticipate that Brightcove will post -0.31 EPS for the current year.

Institutional Trading of Brightcove

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Acadian Asset Management LLC lifted its position in shares of Brightcove by 12.5% in the first quarter. Acadian Asset Management LLC now owns 801,459 shares of the software maker’s stock valued at $1,553,000 after acquiring an additional 88,935 shares in the last quarter. First Eagle Investment Management LLC acquired a new position in Brightcove in the first quarter valued at $642,000. GSA Capital Partners LLP increased its stake in Brightcove by 151.0% in the first quarter. GSA Capital Partners LLP now owns 225,176 shares of the software maker’s stock valued at $437,000 after purchasing an additional 135,462 shares during the last quarter. BNP Paribas Financial Markets increased its stake in Brightcove by 26.6% in the first quarter. BNP Paribas Financial Markets now owns 107,074 shares of the software maker’s stock valued at $208,000 after purchasing an additional 22,466 shares during the last quarter. Finally, Quadrature Capital Ltd increased its stake in Brightcove by 12.4% in the first quarter. Quadrature Capital Ltd now owns 84,963 shares of the software maker’s stock valued at $165,000 after purchasing an additional 9,353 shares during the last quarter. 80.12% of the stock is currently owned by hedge funds and other institutional investors.

About Brightcove

Brightcove Inc provides cloud-based streaming services the Americas, Europe, the Asia Pacific, Japan, India, and the Middle East. It offers Video Cloud, an online video streaming platform that enables its customers to publish, deliver, and distribute high-quality video to internet-connected devices. The company's solutions and products comprise Brightcove Marketing Studio, a video streaming solution; Brightcove Communications Studio for marketers and corporate communications professionals; Brightcove Media Studio, a solution for over-the-top (OTT) video services, media publishers, and leading broadcasters to monetize their media, live stream at scale, and nurture their audience lifecycle; Brightcove Audience Insights, a customer data platform for video streaming businesses; Zencoder, a cloud-based video encoding service; and Brightcove Beacon, a platform that enables its customers to launch premium OTT video streaming experiences, as well as Brightcove Marketplace.