Brightcove (NASDAQ:BCOV) Downgraded by BidaskClub to Sell

BidaskClub cut shares of Brightcove (NASDAQ:BCOV) from a hold rating to a sell rating in a report issued on Saturday, BidAskClub reports.

A number of other brokerages have also issued reports on BCOV. Zacks Investment Research lowered Brightcove from a strong-buy rating to a hold rating in a research note on Tuesday, October 29th. ValuEngine lowered Brightcove from a hold rating to a sell rating in a research note on Thursday. Northland Securities reaffirmed a buy rating and set a $14.00 price target on shares of Brightcove in a research note on Thursday, October 24th. Finally, B. Riley reaffirmed a buy rating on shares of Brightcove in a research note on Tuesday, July 23rd. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $12.33.

NASDAQ BCOV traded up $0.04 on Friday, reaching $9.25. 77,100 shares of the stock traded hands, compared to its average volume of 149,053. The firm’s fifty day simple moving average is $9.81 and its 200 day simple moving average is $10.68. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.14. The company has a market cap of $360.85 million, a price-to-earnings ratio of -34.26 and a beta of 0.77. Brightcove has a 12 month low of $6.88 and a 12 month high of $12.88.

Brightcove (NASDAQ:BCOV) last issued its quarterly earnings results on Wednesday, October 23rd. The software maker reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.02. The firm had revenue of $47.43 million during the quarter, compared to analyst estimates of $47.26 million. Brightcove had a negative return on equity of 7.81% and a negative net margin of 10.02%. The firm’s quarterly revenue was up 15.4% on a year-over-year basis. During the same period last year, the company posted ($0.03) EPS. As a group, equities research analysts forecast that Brightcove will post -0.09 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in BCOV. Bank of Montreal Can boosted its stake in shares of Brightcove by 204.3% during the 2nd quarter. Bank of Montreal Can now owns 4,789 shares of the software maker’s stock worth $49,000 after acquiring an additional 3,215 shares in the last quarter. Marshall Wace North America L.P. bought a new stake in shares of Brightcove during the 1st quarter worth $74,000. Cadence Capital Management LLC bought a new stake in shares of Brightcove during the 3rd quarter worth $139,000. A.R.T. Advisors LLC bought a new stake in shares of Brightcove during the 2nd quarter worth $142,000. Finally, Russell Investments Group Ltd. boosted its stake in shares of Brightcove by 192.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 25,729 shares of the software maker’s stock worth $270,000 after acquiring an additional 16,929 shares in the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.

About Brightcove

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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