Brightcove (BCOV) Lowered to “Hold” at ValuEngine

ValuEngine downgraded shares of Brightcove (NASDAQ:BCOV) from a buy rating to a hold rating in a research note issued to investors on Friday.

A number of other research firms have also recently weighed in on BCOV. BidaskClub cut Brightcove from a hold rating to a sell rating in a report on Thursday, July 12th. Zacks Investment Research cut Brightcove from a hold rating to a sell rating in a report on Tuesday, July 31st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $12.00.

Shares of Brightcove stock traded down $0.64 during midday trading on Friday, hitting $7.55. 566,170 shares of the company were exchanged, compared to its average volume of 119,842. Brightcove has a 52 week low of $6.30 and a 52 week high of $10.75.

Brightcove (NASDAQ:BCOV) last released its quarterly earnings results on Thursday, November 1st. The software maker reported ($0.03) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.02. Brightcove had a negative return on equity of 12.78% and a negative net margin of 7.79%. The firm had revenue of $41.10 million during the quarter, compared to analysts’ expectations of $41.82 million. During the same period last year, the firm posted ($0.06) EPS. The business’s revenue was up 4.1% on a year-over-year basis. On average, equities research analysts forecast that Brightcove will post -0.31 EPS for the current fiscal year.

In other Brightcove news, CEO Jeff Ray purchased 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 14th. The stock was purchased at an average cost of $8.09 per share, with a total value of $161,800.00. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 4.90% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BCOV. Northern Trust Corp increased its stake in shares of Brightcove by 2.9% in the 1st quarter. Northern Trust Corp now owns 394,421 shares of the software maker’s stock valued at $2,741,000 after buying an additional 11,065 shares during the period. BlackRock Inc. increased its stake in shares of Brightcove by 7.3% in the 1st quarter. BlackRock Inc. now owns 2,114,339 shares of the software maker’s stock valued at $14,696,000 after buying an additional 143,172 shares during the period. Acadian Asset Management LLC acquired a new stake in shares of Brightcove in the 2nd quarter valued at $115,000. EAM Investors LLC acquired a new stake in shares of Brightcove in the 2nd quarter valued at $1,541,000. Finally, EAM Global Investors LLC acquired a new stake in shares of Brightcove in the 2nd quarter valued at $1,084,000. 75.03% of the stock is owned by 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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