Wall Street brokerages expect Brightcove Inc (NASDAQ:BCOV) to post $41.72 million in sales for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Brightcove’s earnings. The highest sales estimate is $41.80 million and the lowest is $41.67 million. Brightcove posted sales of $39.49 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 5.6%. The business is scheduled to issue its next quarterly earnings report on Thursday, October 25th.
On average, analysts expect that Brightcove will report full-year sales of $167.21 million for the current year, with estimates ranging from $166.76 million to $167.87 million. For the next year, analysts expect that the business will report sales of $179.98 million per share, with estimates ranging from $177.75 million to $181.65 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Brightcove.
Brightcove (NASDAQ:BCOV) last announced its earnings results on Thursday, July 26th. The software maker reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.01). The firm had revenue of $41.70 million during the quarter, compared to the consensus estimate of $41.63 million. Brightcove had a negative return on equity of 15.19% and a negative net margin of 9.04%. The business’s revenue was up 7.5% compared to the same quarter last year. During the same quarter last year, the business earned ($0.16) EPS.
Several research analysts recently commented on BCOV shares. Zacks Investment Research downgraded shares of Brightcove from a “buy” rating to a “hold” rating in a report on Wednesday, April 25th. ValuEngine upgraded shares of Brightcove from a “sell” rating to a “hold” rating in a report on Friday, April 27th. BidaskClub upgraded shares of Brightcove from a “hold” rating to a “buy” rating in a report on Saturday, April 28th. TheStreet upgraded shares of Brightcove from a “d+” rating to a “c-” rating in a report on Monday, May 7th. Finally, Dougherty & Co boosted their price objective on shares of Brightcove from $11.00 to $14.00 and gave the stock a “buy” rating in a report on Thursday, May 17th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. Brightcove currently has an average rating of “Hold” and a consensus price target of $10.38.
In related news, CEO Jeff Ray acquired 20,000 shares of the company’s stock in a transaction dated Tuesday, August 14th. The shares were bought at an average price of $8.09 per share, for a total transaction of $161,800.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 4.90% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Acadian Asset Management LLC acquired a new stake in shares of Brightcove during the 2nd quarter valued at about $115,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Brightcove during the 2nd quarter valued at about $115,000. MetLife Investment Advisors LLC acquired a new stake in shares of Brightcove during the 4th quarter valued at about $123,000. California Public Employees Retirement System acquired a new stake in shares of Brightcove during the 2nd quarter valued at about $191,000. Finally, Citigroup Inc. boosted its position in shares of Brightcove by 927.5% during the 1st quarter. Citigroup Inc. now owns 35,008 shares of the software maker’s stock valued at $243,000 after acquiring an additional 31,601 shares in the last quarter. Institutional investors and hedge funds own 61.64% of the company’s stock.
BCOV traded down $0.02 during trading on Wednesday, hitting $8.10. The stock had a trading volume of 140,800 shares, compared to its average volume of 216,717. The company has a market capitalization of $290.04 million, a PE ratio of -17.08 and a beta of 1.60. Brightcove has a 12 month low of $6.30 and a 12 month high of $10.75.
Brightcove Company Profile
Brightcove Inc provides cloud-based services for video. The company offers Video Cloud, an online video platform that enables its customers to publish and distribute video to Internet-connected devices. Its Video Cloud platform offers various features and functionalities, such as uploading and encoding, content management, video player technology, multi-platform video experiences, live video streaming, distribution and syndication, social media, advertising and monetization, and analytics, as well as APIs, SDKs, and developer resources.
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