Brightcove (NASDAQ:BCOV) Downgraded to “Buy” at ValuEngine

ValuEngine downgraded shares of Brightcove (NASDAQ:BCOV) from a strong-buy rating to a buy rating in a report issued on Thursday morning, ValuEngine reports.

A number of other research analysts have also issued reports on the stock. B. Riley reiterated a buy rating on shares of Brightcove in a research note on Tuesday, July 23rd. BidaskClub upgraded shares of Brightcove from a buy rating to a strong-buy rating in a research note on Saturday, July 27th. Zacks Investment Research lowered shares of Brightcove from a buy rating to a hold rating in a research note on Thursday, July 25th. Finally, Northland Securities reissued a buy rating and set a $14.00 price objective on shares of Brightcove in a report on Thursday, May 16th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Brightcove presently has a consensus rating of Buy and a consensus target price of $13.00.

Shares of Brightcove stock traded down $0.21 on Thursday, reaching $12.29. 177,117 shares of the stock were exchanged, compared to its average volume of 187,262. Brightcove has a 1-year low of $6.88 and a 1-year high of $12.82. 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’s fifty day simple moving average is $10.91. The firm has a market capitalization of $477.72 million, a price-to-earnings ratio of -45.52 and a beta of 0.85.

Brightcove (NASDAQ:BCOV) last issued its quarterly earnings results on Wednesday, July 24th. The software maker reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.02. Brightcove had a negative net margin of 10.70% and a negative return on equity of 12.20%. The business had revenue of $47.58 million for the quarter, compared to analyst estimates of $45.74 million. During the same period in the previous year, the business posted ($0.07) earnings per share. The business’s revenue was up 14.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Brightcove will post -0.08 earnings per share for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in BCOV. BNP Paribas Arbitrage SA boosted its holdings in Brightcove by 68,190.9% during the first quarter. BNP Paribas Arbitrage SA now owns 7,512 shares of the software maker’s stock worth $63,000 after buying an additional 7,501 shares in the last quarter. Marshall Wace North America L.P. purchased a new stake in Brightcove during the first quarter worth about $74,000. Metropolitan Life Insurance Co. NY boosted its holdings in Brightcove by 404.8% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 11,822 shares of the software maker’s stock worth $83,000 after buying an additional 9,480 shares in the last quarter. Bank of America Corp DE boosted its holdings in Brightcove by 144.2% during the fourth quarter. Bank of America Corp DE now owns 20,779 shares of the software maker’s stock worth $146,000 after buying an additional 12,271 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its holdings in Brightcove by 8.7% during the first quarter. State Board of Administration of Florida Retirement System now owns 35,527 shares of the software maker’s stock worth $299,000 after buying an additional 2,851 shares in the last quarter. 78.87% of the stock is currently owned by hedge funds and other institutional investors.

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.

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