Equities research analysts predict that Brightcove Inc (NASDAQ:BCOV) will post sales of $45.68 million for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Brightcove’s earnings, with the highest sales estimate coming in at $45.82 million and the lowest estimate coming in at $45.54 million. Brightcove posted sales of $41.65 million during the same quarter last year, which would indicate a positive year over year growth rate of 9.7%. The firm is expected to report its next quarterly earnings report on Thursday, July 25th.
On average, analysts expect that Brightcove will report full year sales of $183.98 million for the current fiscal year, with estimates ranging from $183.18 million to $184.78 million. For the next year, analysts forecast that the firm will post sales of $200.13 million, with estimates ranging from $199.54 million to $200.72 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Brightcove.
Brightcove (NASDAQ:BCOV) last issued its quarterly earnings data on Wednesday, April 24th. The software maker reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.02. The company had revenue of $41.80 million during the quarter, compared to the consensus estimate of $40.22 million. Brightcove had a negative net margin of 10.13% and a negative return on equity of 13.98%. Brightcove’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.06) earnings per share.
A number of equities analysts have recently issued reports on the company. BidaskClub downgraded Brightcove from a “buy” rating to a “hold” rating in a research report on Monday, June 17th. Northland Securities reaffirmed a “buy” rating on shares of Brightcove in a research report on Monday, April 15th. Finally, Zacks Investment Research downgraded Brightcove from a “buy” rating to a “hold” rating in a research report on Tuesday, April 30th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Brightcove currently has a consensus rating of “Buy” and an average target price of $12.33.
Several hedge funds have recently modified their holdings of the company. BNP Paribas Arbitrage SA increased its position in shares of Brightcove by 68,190.9% in the 1st quarter. BNP Paribas Arbitrage SA now owns 7,512 shares of the software maker’s stock valued at $63,000 after acquiring an additional 7,501 shares during the period. Marshall Wace North America L.P. purchased a new stake in shares of Brightcove during the 1st quarter worth about $74,000. Metropolitan Life Insurance Co. NY boosted its stake in shares of Brightcove by 404.8% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 11,822 shares of the software maker’s stock worth $83,000 after acquiring an additional 9,480 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in shares of Brightcove during the 4th quarter worth about $104,000. Finally, Bank of America Corp DE boosted its stake in shares of Brightcove by 144.2% during the 4th quarter. Bank of America Corp DE now owns 20,779 shares of the software maker’s stock worth $146,000 after acquiring an additional 12,271 shares in the last quarter. 78.87% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ:BCOV traded down $0.05 during trading hours on Thursday, reaching $10.41. The company’s stock had a trading volume of 65,905 shares, compared to its average volume of 120,396. The stock has a market cap of $393.91 million, a P/E ratio of -38.56 and a beta of 0.98. Brightcove has a 12 month low of $6.88 and a 12 month high of $10.69. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.19. The firm has a 50 day simple moving average of $10.23.
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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