Brightcove (NASDAQ:BCOV) Downgraded to “Hold” at StockNews.com

Brightcove (NASDAQ:BCOVGet Rating) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Thursday.

BCOV has been the subject of several other research reports. Lake Street Capital reissued a “hold” rating and set a $9.00 target price (down previously from $14.00) on shares of Brightcove in a research note on Thursday, February 17th. Zacks Investment Research upgraded shares of Brightcove from a “sell” rating to a “hold” rating in a report on Tuesday, March 1st. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Brightcove has a consensus rating of “Hold” and a consensus price target of $19.50.

NASDAQ BCOV opened at $7.19 on Thursday. The business’s fifty day simple moving average is $7.42 and its 200-day simple moving average is $9.10. The firm has a market cap of $298.59 million, a PE ratio of 55.31 and a beta of 0.77. Brightcove has a 52 week low of $6.52 and a 52 week high of $16.87.

Brightcove (NASDAQ:BCOVGet Rating) last issued its earnings results on Wednesday, April 27th. The software maker reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.06. Brightcove had a net margin of 2.56% and a return on equity of 7.40%. During the same quarter in the prior year, the firm earned $0.10 EPS. As a group, equities research analysts expect that Brightcove will post -0.1 earnings per share for the current fiscal year.

In other Brightcove news, major shareholder Edenbrook Capital, Llc purchased 4,900 shares of the business’s stock in a transaction on Wednesday, April 27th. The shares were bought at an average cost of $6.62 per share, for a total transaction of $32,438.00. Following the completion of the purchase, the insider now directly owns 4,732,619 shares of the company’s stock, valued at $31,329,937.78. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Thomas E. Wheeler purchased 6,200 shares of Brightcove stock in a transaction dated Thursday, February 17th. The shares were acquired at an average cost of $7.90 per share, for a total transaction of $48,980.00. The disclosure for this purchase can be found here. Insiders have acquired 18,100 shares of company stock worth $130,768 over the last 90 days. 3.70% of the stock is owned by insiders.

Several large investors have recently bought and sold shares of the business. Trigran Investments Inc. increased its position in shares of Brightcove by 18.1% during the third quarter. Trigran Investments Inc. now owns 4,844,074 shares of the software maker’s stock worth $55,900,000 after acquiring an additional 743,359 shares during the period. BlackRock Inc. increased its holdings in Brightcove by 4.4% during the 4th quarter. BlackRock Inc. now owns 2,783,572 shares of the software maker’s stock worth $28,448,000 after purchasing an additional 117,277 shares during the period. Lynrock Lake LP acquired a new stake in Brightcove in the 4th quarter valued at about $7,947,000. King Luther Capital Management Corp boosted its stake in shares of Brightcove by 10.2% in the 4th quarter. King Luther Capital Management Corp now owns 707,210 shares of the software maker’s stock valued at $7,228,000 after buying an additional 65,645 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Brightcove by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 701,511 shares of the software maker’s stock worth $7,169,000 after buying an additional 8,361 shares in the last quarter. Institutional investors and hedge funds own 83.33% of the company’s stock.

Brightcove Company Profile (Get Rating)

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 multiple monetization models; Brightcove Player, a video player technology with a cloud-based service for creating and managing experiences; and Zencoder, a cloud-based video encoding technology.

Further Reading

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.