StockNews.com Lowers Brightcove (NASDAQ:BCOV) to Hold

StockNews.com cut shares of Brightcove (NASDAQ:BCOVFree Report) from a buy rating to a hold rating in a report issued on Thursday.

A number of other equities research analysts have also recently weighed in on BCOV. Lake Street Capital restated a hold rating and issued a $3.00 price objective on shares of Brightcove in a report on Friday, February 23rd. Rosenblatt Securities cut their price objective on shares of Brightcove from $7.50 to $5.00 and set a buy rating on the stock in a report on Friday, February 23rd.

View Our Latest Stock Report on BCOV

Brightcove Price Performance

Shares of NASDAQ BCOV opened at $1.89 on Thursday. Brightcove has a 1 year low of $1.81 and a 1 year high of $4.76. The company’s 50-day moving average is $2.23 and its 200 day moving average is $2.65. The stock has a market capitalization of $82.60 million, a P/E ratio of -3.50 and a beta of 0.69.

Brightcove (NASDAQ:BCOVGet Free Report) last announced its quarterly earnings data on Thursday, February 22nd. The software maker reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.02. The business had revenue of $50.16 million for the quarter. Brightcove had a negative net margin of 11.38% and a negative return on equity of 17.02%. Research analysts anticipate that Brightcove will post -0.33 earnings per share for the current year.

Institutional Investors Weigh In On Brightcove

A number of institutional investors have recently made changes to their positions in BCOV. Federated Hermes Inc. grew its holdings in shares of Brightcove by 162.0% during the first quarter. Federated Hermes Inc. now owns 2,205,445 shares of the software maker’s stock valued at $17,202,000 after buying an additional 1,363,779 shares during the last quarter. Lynrock Lake LP lifted its position in Brightcove by 28.7% during the fourth quarter. Lynrock Lake LP now owns 3,146,959 shares of the software maker’s stock valued at $16,459,000 after purchasing an additional 701,509 shares during the period. BlackRock Inc. lifted its position in Brightcove by 13.9% during the second quarter. BlackRock Inc. now owns 3,079,211 shares of the software maker’s stock valued at $12,348,000 after purchasing an additional 376,943 shares during the period. Vanguard Group Inc. lifted its position in Brightcove by 8.4% during the fourth quarter. Vanguard Group Inc. now owns 3,037,307 shares of the software maker’s stock valued at $7,867,000 after purchasing an additional 234,892 shares during the period. Finally, B. Riley Asset Management LLC bought a new position in Brightcove during the second quarter valued at approximately $922,000. Hedge funds and other institutional investors own 85.68% of the company’s stock.

Brightcove Company Profile

(Get Free Report)

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.

Further Reading

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