Brightcove Inc (BCOV) Downgraded by Zacks Investment Research to “Strong Sell”

Brightcove Inc (NASDAQ:BCOV) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Tuesday, April 18th.

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. “

A number of other research analysts also recently issued reports on the stock. B. Riley reiterated a “buy” rating and issued a $14.00 price target on shares of Brightcove in a research note on Wednesday, February 22nd. TheStreet upgraded shares of Brightcove from a “d+” rating to a “c-” rating in a research report on Tuesday, March 28th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $11.25.

Shares of Brightcove (NASDAQ:BCOV) traded up 0.417% during midday trading on Tuesday, hitting $6.025. 103,789 shares of the company traded hands. Brightcove has a 52 week low of $5.40 and a 52 week high of $13.80. The stock’s market capitalization is $203.54 million. The company has a 50-day moving average price of $7.78 and a 200-day moving average price of $8.04.

Brightcove (NASDAQ:BCOV) last posted its quarterly earnings data on Thursday, May 4th. The software maker reported ($0.13) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by $0.04. Brightcove had a negative net margin of 3.71% and a negative return on equity of 4.00%. The business had revenue of $37.60 million during the quarter, compared to analysts’ expectations of $37.38 million. During the same period in the previous year, the business posted $0.02 EPS. The company’s revenue for the quarter was up 3.6% compared to the same quarter last year. Analysts anticipate that Brightcove will post ($0.26) earnings per share for the current fiscal year.

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Several large investors have recently added to or reduced their stakes in BCOV. Airain ltd purchased a new position in Brightcove during the third quarter worth about $171,000. Teza Capital Management LLC bought a new position in Brightcove during the fourth quarter worth approximately $115,000. Russell Investments Group Ltd. bought a new position in Brightcove during the fourth quarter worth approximately $119,000. Wells Fargo & Company MN increased its position in Brightcove by 27.5% in the third quarter. Wells Fargo & Company MN now owns 15,919 shares of the software maker’s stock worth $208,000 after buying an additional 3,433 shares in the last quarter. Finally, Parametric Portfolio Associates LLC increased its position in 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 in the last quarter. Institutional investors and hedge funds own 70.96% of the company’s stock.

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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