Brightcove Inc. (NASDAQ:BCOV) Receives Consensus Rating of “Buy” from Brokerages

Shares of Brightcove Inc. (NASDAQ:BCOV) have earned an average rating of “Buy” from the six ratings firms that are covering the firm, Marketbeat reports. One analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $21.67.

A number of brokerages have commented on BCOV. Zacks Investment Research downgraded Brightcove from a “buy” rating to a “hold” rating in a research note on Tuesday, May 4th. B. Riley restated a “buy” rating and issued a $22.00 target price on shares of Brightcove in a research note on Friday, January 29th. Lake Street Capital lifted their target price on Brightcove from $20.00 to $27.00 and gave the company a “buy” rating in a research note on Thursday, February 18th. Finally, Northland Securities reiterated a “buy” rating on shares of Brightcove in a research report on Thursday, March 11th.

NASDAQ:BCOV opened at $13.72 on Monday. The company has a market capitalization of $553.59 million, a price-to-earnings ratio of -37.08, a price-to-earnings-growth ratio of 10.13 and a beta of 0.91. Brightcove has a one year low of $7.43 and a one year high of $25.26. The stock has a 50-day simple moving average of $18.72 and a 200 day simple moving average of $18.14. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.84 and a current ratio of 0.84.

Brightcove (NASDAQ:BCOV) last posted its quarterly earnings results on Tuesday, April 27th. The software maker reported $0.15 EPS for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.05. The business had revenue of $54.80 million during the quarter, compared to the consensus estimate of $53.46 million. Brightcove had a negative return on equity of 0.21% and a negative net margin of 7.61%. The company’s revenue for the quarter was up 17.6% compared to the same quarter last year. During the same period last year, the firm earned $0.04 earnings per share. On average, equities research analysts forecast that Brightcove will post 0.07 EPS for the current fiscal year.

In related news, insider David Plotkin sold 27,027 shares of the business’s stock in a transaction that occurred on Friday, March 26th. The stock was sold at an average price of $20.67, for a total transaction of $558,648.09. Following the sale, the insider now owns 134,834 shares of the company’s stock, valued at $2,787,018.78. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Tsedal Neeley bought 2,000 shares of the company’s stock in a transaction that occurred on Friday, March 12th. The shares were purchased at an average cost of $22.11 per share, for a total transaction of $44,220.00. 2.30% of the stock is owned by insiders.

Large investors have recently made changes to their positions in the stock. Lazard Asset Management LLC bought a new stake in Brightcove during the first quarter worth approximately $37,000. Dorsey Wright & Associates increased its holdings in shares of Brightcove by 134.6% in the first quarter. Dorsey Wright & Associates now owns 1,940 shares of the software maker’s stock valued at $39,000 after buying an additional 1,113 shares in the last quarter. Altshuler Shaham Ltd bought a new position in shares of Brightcove in the first quarter valued at $57,000. Marshall Wace North America L.P. bought a new position in shares of Brightcove in the first quarter valued at $74,000. Finally, Meeder Asset Management Inc. bought a new position in shares of Brightcove in the first quarter valued at $80,000. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

About Brightcove

Brightcove Inc provides cloud-based services for video. Its flagship product includes Video Cloud, an online video platform that enables its customers to publish and distribute 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 on mobile, web, and smart and connected TVs; Brightcove Player, a video player technology with a cloud-based service for creating and managing video player experiences; and Zencoder, a cloud-based video encoding service.

Further Reading: Calculating net profit and net profit margin ratio

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