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

Brightcove (NASDAQ:BCOV) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday.

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. “

Several other analysts also recently weighed in on BCOV. BidaskClub downgraded Brightcove from a “hold” rating to a “sell” rating in a report on Thursday, July 12th. ValuEngine downgraded Brightcove from a “buy” rating to a “hold” rating in a report on Wednesday, August 8th. LADENBURG THALM/SH SH reissued a “buy” rating and issued a $13.00 target price on shares of Brightcove in a report on Wednesday, June 6th. Stifel Nicolaus reissued a “buy” rating and issued a $13.00 target price (up from $11.00) on shares of Brightcove in a report on Friday, June 1st. Finally, Dougherty & Co reissued a “buy” rating and issued a $14.00 target price (up from $11.00) on shares of Brightcove in a report on Thursday, May 31st. Two analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. Brightcove presently has an average rating of “Hold” and an average target price of $11.05.

Brightcove stock opened at $8.25 on Tuesday. Brightcove has a fifty-two week low of $6.30 and a fifty-two week high of $10.75. The stock has a market capitalization of $294.53 million, a PE ratio of -17.19 and a beta of 1.54.

Brightcove (NASDAQ:BCOV) last posted its earnings results on Thursday, July 26th. The software maker reported ($0.07) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.01). Brightcove had a negative net margin of 9.04% and a negative return on equity of 15.19%. The firm had revenue of $41.70 million during the quarter, compared to analysts’ expectations of $41.63 million. During the same period in the previous year, the firm posted ($0.16) earnings per share. The firm’s revenue for the quarter was up 7.5% on a year-over-year basis. analysts anticipate that Brightcove will post -0.31 earnings per share for the current fiscal year.

In other news, CEO Jeff Ray bought 20,000 shares of Brightcove stock in a transaction dated Tuesday, August 14th. The stock was acquired at an average cost of $8.09 per share, with a total value of $161,800.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 4.90% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp raised its stake in Brightcove by 13.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 187,640 shares of the software maker’s stock valued at $1,810,000 after acquiring an additional 22,631 shares during the last quarter. California Public Employees Retirement System purchased a new stake in Brightcove during the 2nd quarter valued at approximately $191,000. Millennium Management LLC raised its stake in Brightcove by 118.7% during the 2nd quarter. Millennium Management LLC now owns 667,752 shares of the software maker’s stock valued at $6,444,000 after acquiring an additional 362,369 shares during the last quarter. MetLife Investment Advisors LLC raised its stake in Brightcove by 671.8% during the 2nd quarter. MetLife Investment Advisors LLC now owns 17,189 shares of the software maker’s stock valued at $166,000 after acquiring an additional 14,962 shares during the last quarter. Finally, Sensato Investors LLC purchased a new stake in Brightcove during the 2nd quarter valued at approximately $486,000. 75.05% of the stock is owned by hedge funds and other institutional investors.

About Brightcove

Brightcove Inc provides cloud-based services for video. The company offers Video Cloud, an online video platform that enables its customers to publish and distribute video to Internet-connected devices. Its Video Cloud platform offers various features and functionalities, such as uploading and encoding, content management, video player technology, multi-platform video experiences, live video streaming, distribution and syndication, social media, advertising and monetization, and analytics, as well as APIs, SDKs, and developer resources.

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