Brightcove (NASDAQ:BCOV) Stock Rating Upgraded by StockNews.com

Brightcove (NASDAQ:BCOV) was upgraded by equities researchers at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued on Thursday.

Brightcove Stock Up 7.7 %

NASDAQ BCOV traded up $0.18 during trading hours on Thursday, reaching $2.52. 226,271 shares of the company were exchanged, compared to its average volume of 270,403. Brightcove has a 1 year low of $1.55 and a 1 year high of $4.56. The business’s 50 day simple moving average is $2.14 and its 200-day simple moving average is $2.12. The stock has a market capitalization of $112.34 million, a P/E ratio of -11.45 and a beta of 0.74.

Brightcove (NASDAQ:BCOV) last posted its quarterly earnings data on Wednesday, May 8th. The software maker reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.02. Brightcove had a negative net margin of 4.74% and a negative return on equity of 7.87%. The business had revenue of $50.48 million during the quarter. As a group, sell-side analysts anticipate that Brightcove will post -0.31 earnings per share for the current year.

Hedge Funds Weigh In On Brightcove

Several large investors have recently modified their holdings of BCOV. First Eagle Investment Management LLC purchased a new position in shares of Brightcove in the first quarter worth about $642,000. GSA Capital Partners LLP increased its stake in shares of Brightcove by 151.0% in the first quarter. GSA Capital Partners LLP now owns 225,176 shares of the software maker’s stock worth $437,000 after purchasing an additional 135,462 shares in the last quarter. Acadian Asset Management LLC boosted its position in shares of Brightcove by 12.5% in the first quarter. Acadian Asset Management LLC now owns 801,459 shares of the software maker’s stock valued at $1,553,000 after acquiring an additional 88,935 shares during the period. Monaco Asset Management SAM bought a new position in shares of Brightcove in the fourth quarter valued at approximately $142,000. Finally, Quadrature Capital Ltd boosted its position in shares of Brightcove by 87.9% in the fourth quarter. Quadrature Capital Ltd now owns 75,610 shares of the software maker’s stock valued at $196,000 after acquiring an additional 35,360 shares during the period. Hedge funds and other institutional investors own 80.12% of the company’s stock.

About Brightcove

Brightcove Inc provides cloud-based streaming services the Americas, Europe, the Asia Pacific, Japan, India, and the Middle East. It offers Video Cloud, an online video streaming platform that enables its customers to publish, deliver, and distribute high-quality video to internet-connected devices. The company's solutions and products comprise Brightcove Marketing Studio, a video streaming solution; Brightcove Communications Studio for marketers and corporate communications professionals; Brightcove Media Studio, a solution for over-the-top (OTT) video services, media publishers, and leading broadcasters to monetize their media, live stream at scale, and nurture their audience lifecycle; Brightcove Audience Insights, a customer data platform for video streaming businesses; Zencoder, a cloud-based video encoding service; and Brightcove Beacon, a platform that enables its customers to launch premium OTT video streaming experiences, as well as Brightcove Marketplace.