Brightcove Inc. (BCOV) Given New $10.50 Price Target at Stifel Nicolaus

Brightcove Inc. (NASDAQ:BCOV) had its target price trimmed by Stifel Nicolaus from $13.00 to $10.50 in a research note released on Monday, May 15th, StockTargetPrices.com reports. The brokerage currently has a buy rating on the software maker’s stock.

Other research analysts have also recently issued research reports about the company. B. Riley reissued a buy rating and issued a $14.00 price objective on shares of Brightcove in a research report on Wednesday, February 22nd. TheStreet raised Brightcove from a d+ rating to a c- rating in a research report on Tuesday, March 28th. Finally, Zacks Investment Research cut Brightcove from a hold rating to a strong sell rating in a research report on Tuesday, April 18th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $11.25.

Brightcove (NASDAQ BCOV) traded down 0.79% during trading on Monday, reaching $6.25. The company’s stock had a trading volume of 409,232 shares. The company’s 50-day moving average is $6.46 and its 200-day moving average is $7.66. Brightcove has a 12 month low of $5.40 and a 12 month high of $13.80. The stock’s market cap is $211.14 million.

Brightcove (NASDAQ:BCOV) last posted its quarterly earnings data on Thursday, May 4th. The software maker reported ($0.13) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by $0.04. Brightcove had a negative return on equity of 12.25% and a negative net margin of 8.88%. 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 prior year, the firm posted $0.02 EPS. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. Equities analysts expect that Brightcove will post ($0.26) EPS for the current fiscal year.

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Several hedge funds have recently added to or reduced their stakes in BCOV. Teza Capital Management LLC bought a new stake in Brightcove during the fourth quarter worth about $115,000. Russell Investments Group Ltd. bought a new stake in Brightcove during the fourth quarter worth about $119,000. Wells Fargo & Company MN raised 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. Parametric Portfolio Associates LLC raised its stake 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 during the last quarter. Finally, Citadel Advisors LLC raised its stake in Brightcove by 212.1% in the first quarter. Citadel Advisors LLC now owns 18,167 shares of the software maker’s stock worth $162,000 after buying an additional 34,367 shares during the last quarter. Institutional investors own 74.87% 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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