Brightcove Inc (NASDAQ:BCOV) had its price target lowered by investment analysts at Stifel Nicolaus from $13.00 to $10.50 in a report released on Friday, May 5th. The brokerage presently has a “buy” rating on the software maker’s stock. Stifel Nicolaus’ target price would indicate a potential upside of 75.00% from the company’s previous close.
Several other brokerages also recently commented on BCOV. B. Riley reaffirmed a “buy” rating and set a $14.00 price objective on shares of Brightcove in a research note on Friday, February 17th. TheStreet cut shares of Brightcove from a “c” rating to a “d+” rating in a report on Friday, February 17th. Finally, Zacks Investment Research cut shares of Brightcove from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 18th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. Brightcove currently has an average rating of “Hold” and a consensus target price of $11.25.
Brightcove (NASDAQ:BCOV) remained flat at $6.00 during mid-day trading on Friday. 168,417 shares of the company were exchanged. The firm’s 50-day moving average is $7.70 and its 200 day moving average is $8.00. Brightcove has a 12-month low of $5.40 and a 12-month high of $13.80. The firm’s market cap is $202.70 million.
Brightcove (NASDAQ:BCOV) last issued its quarterly earnings data on Thursday, May 4th. The software maker reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.09) by $0.04. The firm had revenue of $37.60 million for the quarter, compared to the consensus estimate of $37.38 million. Brightcove had a negative net margin of 3.71% and a negative return on equity of 4.00%. The business’s revenue was up 3.6% on a year-over-year basis. During the same period last year, the company posted $0.02 earnings per share. Analysts anticipate that Brightcove will post ($0.26) earnings per share for the current year.
Several large investors have recently bought and sold shares of the stock. Chicago Equity Partners LLC purchased a new stake in Brightcove during the third quarter worth approximately $557,000. Wells Fargo & Company MN boosted its stake 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 during the last quarter. Prudential Financial Inc. increased its position in shares of Brightcove by 1,263.2% in the third quarter. Prudential Financial Inc. now owns 207,345 shares of the software maker’s stock worth $2,705,000 after buying an additional 192,135 shares during the period. DIAM Co. Ltd. bought a new position in shares of Brightcove during the third quarter worth $355,000. Finally, New York State Common Retirement Fund increased its position in shares of Brightcove by 667.1% in the third quarter. New York State Common Retirement Fund now owns 227,825 shares of the software maker’s stock worth $2,973,000 after buying an additional 198,125 shares during the period. Hedge funds and other institutional investors own 70.96% of the company’s stock.
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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