Brightcove (NASDAQ:BCOV) Rating Lowered to Buy at BidaskClub

Brightcove (NASDAQ:BCOV) was downgraded by investment analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a report released on Wednesday, BidAskClub reports.

BCOV has been the subject of a number of other research reports. ValuEngine cut Brightcove from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 1st. B. Riley reiterated a “buy” rating on shares of Brightcove in a research report on Tuesday, July 23rd. Northland Securities reiterated a “buy” rating and set a $14.00 price objective on shares of Brightcove in a research report on Thursday, May 16th. Finally, Zacks Investment Research cut Brightcove from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $13.00.

Brightcove stock opened at $11.11 on Wednesday. The stock has a market cap of $414.17 million, a PE ratio of -41.15 and a beta of 0.86. The stock has a 50-day moving average price of $12.09 and a 200 day moving average price of $10.18. Brightcove has a 52 week low of $6.88 and a 52 week high of $12.88. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.17.

Brightcove (NASDAQ:BCOV) last posted its quarterly earnings data on Wednesday, July 24th. The software maker reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.02. The firm had revenue of $47.58 million during the quarter, compared to analysts’ expectations of $45.74 million. Brightcove had a negative return on equity of 12.20% and a negative net margin of 10.70%. The firm’s quarterly revenue was up 14.2% compared to the same quarter last year. During the same quarter last year, the business posted ($0.07) EPS. On average, equities analysts predict that Brightcove will post -0.08 EPS for the current year.

A number of institutional investors have recently bought and sold shares of BCOV. Northern Trust Corp grew its holdings in Brightcove by 0.6% in the 2nd quarter. Northern Trust Corp now owns 426,884 shares of the software maker’s stock valued at $4,410,000 after buying an additional 2,666 shares during the period. State Board of Administration of Florida Retirement System raised its position in shares of Brightcove by 8.7% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 35,527 shares of the software maker’s stock valued at $299,000 after purchasing an additional 2,851 shares in the last quarter. Bank of Montreal Can raised its position 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 valued at $49,000 after acquiring an additional 3,215 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Brightcove by 7.5% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 94,238 shares of the software maker’s stock valued at $974,000 after acquiring an additional 6,537 shares in the last quarter. Finally, King Luther Capital Management Corp raised its position in shares of Brightcove by 13.6% during the 2nd quarter. King Luther Capital Management Corp now owns 62,500 shares of the software maker’s stock valued at $646,000 after acquiring an additional 7,500 shares in the last quarter. Hedge funds and other institutional investors own 77.01% of the company’s stock.

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.

See Also: Do equity income investments outperform growth and income investments?

Receive News & Ratings for Brightcove Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brightcove and related companies with MarketBeat.com's FREE daily email newsletter.