Brightcove Inc (NASDAQ:BCOV) – Investment analysts at Dougherty & Co issued their Q4 2018 earnings per share estimates for shares of Brightcove in a report released on Sunday, November 4th. Dougherty & Co analyst S. Frankel expects that the software maker will post earnings per share of ($0.08) for the quarter.
Several other equities research analysts have also recently weighed in on BCOV. BidaskClub cut Brightcove from a “hold” rating to a “sell” rating in a report on Thursday, July 12th. Zacks Investment Research cut Brightcove from a “hold” rating to a “sell” rating in a report on Tuesday, July 31st. Finally, ValuEngine cut Brightcove from a “buy” rating to a “hold” rating in a report on Wednesday, August 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. Brightcove currently has an average rating of “Hold” and a consensus price target of $12.00.
Shares of BCOV stock opened at $7.51 on Wednesday. Brightcove has a 1-year low of $6.30 and a 1-year high of $10.75.
Brightcove (NASDAQ:BCOV) last issued its earnings results on Thursday, November 1st. The software maker reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.02. The company had revenue of $41.10 million during the quarter, compared to analysts’ expectations of $41.82 million. Brightcove had a negative return on equity of 12.75% and a negative net margin of 7.79%. Brightcove’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.06) EPS.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its holdings in Brightcove by 13.6% in the 2nd quarter. BlackRock Inc. now owns 2,401,585 shares of the software maker’s stock worth $23,174,000 after buying an additional 287,246 shares during the period. Renaissance Technologies LLC lifted its holdings in Brightcove by 45.1% in the 2nd quarter. Renaissance Technologies LLC now owns 2,324,400 shares of the software maker’s stock worth $22,430,000 after buying an additional 722,587 shares during the period. Tenzing Global Management LLC lifted its holdings in Brightcove by 23.1% in the 2nd quarter. Tenzing Global Management LLC now owns 1,750,000 shares of the software maker’s stock worth $16,888,000 after buying an additional 328,100 shares during the period. Trigran Investments Inc. lifted its holdings in Brightcove by 174.7% in the 2nd quarter. Trigran Investments Inc. now owns 793,337 shares of the software maker’s stock worth $7,656,000 after buying an additional 504,492 shares during the period. Finally, Millennium Management LLC lifted its holdings in Brightcove by 118.7% in the 2nd quarter. Millennium Management LLC now owns 667,752 shares of the software maker’s stock worth $6,444,000 after buying an additional 362,369 shares during the period. Institutional investors and hedge funds own 75.26% of the company’s stock.
In other Brightcove news, CEO Jeff Ray acquired 20,000 shares of the company’s stock in a transaction on Tuesday, August 14th. The stock was acquired at an average price of $8.09 per share, for a total transaction of $161,800.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 4.90% of the company’s stock.
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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