Brightcove Inc. (NASDAQ:BCOV) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Monday.

According to Zacks, “Brightcove Inc. is engaged in providing cloud content services for publishing and distributing professional digital media. Its products include Brightcove Video Cloud, an online video platform and Brightcove App Cloud, a software application development and management platform. The Company provides its solutions to media, retail, technology, financial services companies, governments, educational institutions, and non-profit organizations in North America, Europe, and the Asia Pacific. Brightcove Inc. is headquartered in Cambridge, Massachusetts. “

Several other equities research analysts also recently weighed in on the company. Northland Securities raised Brightcove from a “market perform” rating to an “outperform” rating in a research report on Friday, October 27th. B. Riley reaffirmed a “hold” rating and issued a $7.25 target price on shares of Brightcove in a research report on Friday, October 27th. Finally, Stifel Nicolaus upped their target price on Brightcove from $10.50 to $11.00 and gave the stock a “buy” rating in a research report on Friday, October 27th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $8.56.

Shares of Brightcove (NASDAQ:BCOV) traded down $0.03 during trading hours on Monday, reaching $7.73. The company’s stock had a trading volume of 83,835 shares, compared to its average volume of 201,413.

Brightcove (NASDAQ:BCOV) last announced its quarterly earnings results on Thursday, October 26th. The software maker reported ($0.06) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.10) by $0.04. Brightcove had a negative return on equity of 25.11% and a negative net margin of 14.58%. The company had revenue of $39.50 million during the quarter, compared to analyst estimates of $37.99 million. During the same period in the prior year, the firm posted $0.02 earnings per share. The firm’s revenue was up 2.9% on a year-over-year basis. research analysts forecast that Brightcove will post -0.54 EPS for the current fiscal year.

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A number of institutional investors and hedge funds have recently modified their holdings of BCOV. Nuveen Asset Management LLC boosted its holdings in Brightcove by 162.8% in the first quarter. Nuveen Asset Management LLC now owns 752,554 shares of the software maker’s stock valued at $6,698,000 after purchasing an additional 466,225 shares during the last quarter. Cooper Creek Partners Management LLC boosted its holdings in Brightcove by 60.8% in the second quarter. Cooper Creek Partners Management LLC now owns 1,204,357 shares of the software maker’s stock valued at $7,467,000 after purchasing an additional 455,504 shares during the last quarter. Cramer Rosenthal Mcglynn LLC boosted its holdings in Brightcove by 27.7% in the second quarter. Cramer Rosenthal Mcglynn LLC now owns 1,845,590 shares of the software maker’s stock valued at $11,443,000 after purchasing an additional 400,029 shares during the last quarter. Horrell Capital Management Inc. purchased a new position in Brightcove in the second quarter valued at about $2,325,000. Finally, Vanguard Group Inc. boosted its holdings in Brightcove by 8.8% in the first quarter. Vanguard Group Inc. now owns 1,859,237 shares of the software maker’s stock valued at $16,548,000 after purchasing an additional 149,626 shares during the last quarter. 60.88% of the stock is owned by hedge funds and other institutional investors.

Brightcove Company Profile

Brightcove Inc is a global provider of cloud-based services for video. The Company’s products and services include Brightcove Video Cloud (Video Cloud), Brightcove Zencoder (Zencoder), Brightcove Once (Once), Brightcove Perform (Perform), Brightcove Video Marketing Suite (Video Marketing Suite), Brightcove Lift (Lift), Brightcove OTT Flow (OTT Flow) and Brightcove Enterprise Video Suite (Enterprise Video Suite), among others.

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