A number of other analysts also recently issued reports on BCOV. Zacks Investment Research downgraded Brightcove from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. B. Riley reiterated a “buy” rating on shares of Brightcove in a research report on Tuesday, July 23rd. Finally, ValuEngine downgraded Brightcove from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $12.67.
Shares of NASDAQ BCOV traded up $0.05 during midday trading on Thursday, reaching $10.60. 68,569 shares of the stock traded hands, compared to its average volume of 178,771. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.82 and a quick ratio of 0.82. The stock has a market capitalization of $405.77 million, a PE ratio of -39.26 and a beta of 0.81. Brightcove has a one year low of $6.88 and a one year high of $12.88. The company’s 50 day moving average is $11.21 and its 200 day moving average is $10.49.
Brightcove (NASDAQ:BCOV) last posted its earnings results on Wednesday, July 24th. The software maker reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.02. The firm had revenue of $47.58 million during the quarter, compared to the consensus estimate of $45.74 million. Brightcove had a negative return on equity of 12.20% and a negative net margin of 10.70%. The company’s quarterly revenue was up 14.2% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.07) EPS. As a group, equities analysts forecast that Brightcove will post -0.08 EPS for the current year.
Several institutional investors have recently made changes to their positions in the company. Tenzing Global Management LLC increased its stake in shares of Brightcove by 4.5% during the second quarter. Tenzing Global Management LLC now owns 2,950,000 shares of the software maker’s stock valued at $30,474,000 after buying an additional 127,357 shares during the period. Citadel Advisors LLC grew its stake in Brightcove by 128.5% in the second quarter. Citadel Advisors LLC now owns 45,200 shares of the software maker’s stock valued at $467,000 after purchasing an additional 25,416 shares during the last quarter. Morgan Stanley grew its stake in Brightcove by 477.0% in the second quarter. Morgan Stanley now owns 39,928 shares of the software maker’s stock valued at $413,000 after purchasing an additional 33,008 shares during the last quarter. Vanguard Group Inc. grew its stake in Brightcove by 6.4% in the second quarter. Vanguard Group Inc. now owns 1,913,253 shares of the software maker’s stock valued at $19,764,000 after purchasing an additional 114,262 shares during the last quarter. Finally, A.R.T. Advisors LLC purchased a new position in Brightcove in the second quarter valued at about $142,000. Hedge funds and other institutional investors own 77.01% of the company’s stock.
Brightcove Company Profile
Brightcove Inc provides cloud-based services for video. It offers Video Cloud, an online video platform that enables its customers to publish and distribute video to Internet-connected devices. The company also provides Zencoder, a cloud-based video encoding service for file support, quality and control, speed and reliability, platform and security, and account and integration; SSAI, a cloud-based ad insertion and video stitching service; and Player, a cloud-based service for creating and managing video player experiences.
Read More: How Do I Invest in Dividend Stocks
Receive News & Ratings for Brightcove Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brightcove and related companies with MarketBeat.com's FREE daily email newsletter.