Brightcove (NASDAQ:BCOV – Get Free Report) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Friday.
A number of other equities analysts have also recently issued reports on BCOV. Rosenblatt Securities reiterated a “buy” rating and issued a $9.00 price objective on shares of Brightcove in a report on Tuesday. Lake Street Capital upgraded Brightcove from a “hold” rating to a “buy” rating and upped their price objective for the stock from $4.50 to $5.00 in a report on Monday.
Brightcove Price Performance
NASDAQ BCOV traded up $0.18 during trading on Friday, reaching $4.37. The company’s stock had a trading volume of 186,795 shares, compared to its average volume of 180,449. The stock has a market capitalization of $187.30 million, a PE ratio of -7.41 and a beta of 0.75. The firm has a fifty day moving average of $4.11 and a 200 day moving average of $4.64. Brightcove has a one year low of $3.28 and a one year high of $7.39.
Brightcove (NASDAQ:BCOV – Get Free Report) last announced its earnings results on Wednesday, May 3rd. The software maker reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.07). The business had revenue of $49.06 million during the quarter, compared to the consensus estimate of $49.00 million. Brightcove had a negative return on equity of 18.24% and a negative net margin of 12.31%. Research analysts expect that Brightcove will post -0.33 earnings per share for the current fiscal year.
Insider Activity at Brightcove
In related news, CEO Marc Debevoise bought 14,945 shares of the company’s stock in a transaction that occurred on Tuesday, May 16th. The stock was bought at an average cost of $3.42 per share, for a total transaction of $51,111.90. Following the acquisition, the chief executive officer now directly owns 1,075,907 shares of the company’s stock, valued at approximately $3,679,601.94. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Brightcove news, Director Kristin E. Frank sold 8,058 shares of the stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $4.37, for a total value of $35,213.46. Following the completion of the sale, the director now owns 71,311 shares in the company, valued at approximately $311,629.07. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Marc Debevoise acquired 14,945 shares of the company’s stock in a transaction on Tuesday, May 16th. The stock was acquired at an average price of $3.42 per share, with a total value of $51,111.90. Following the acquisition, the chief executive officer now owns 1,075,907 shares in the company, valued at approximately $3,679,601.94. The disclosure for this purchase can be found here. Insiders purchased 93,318 shares of company stock worth $362,496 in the last ninety days. 3.70% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC raised its position in shares of Brightcove by 386.1% in the 1st quarter. Tower Research Capital LLC TRC now owns 6,237 shares of the software maker’s stock worth $28,000 after acquiring an additional 4,954 shares in the last quarter. Jane Street Group LLC bought a new position in shares of Brightcove in the 4th quarter worth approximately $53,000. Zebra Capital Management LLC bought a new position in shares of Brightcove in the 1st quarter worth approximately $81,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Brightcove in the 4th quarter worth approximately $68,000. Finally, UBS Group AG raised its position in shares of Brightcove by 451.4% in the 4th quarter. UBS Group AG now owns 13,657 shares of the software maker’s stock worth $71,000 after acquiring an additional 11,180 shares in the last quarter. Institutional investors own 85.57% of the company’s stock.
Brightcove Company Profile
Brightcove Inc provides cloud-based streaming services. Its flagship product includes Video Cloud, an online video streaming platform that enables its customers to distribute high-quality video to internet-connected devices. The company also offers Brightcove Live, a solution for live streaming; Brightcove Beacon, an application that enables companies to launch over-the-top video experiences of multiple monetization models; Brightcove Player, a cloud-based technology for creating and managing video experiences; Zencoder, a cloud-based video encoding technology; and Brightcove Audience Insights, a business intelligence platform that provides actionable intelligence on viewers and subscribers.