BidaskClub upgraded shares of Brightcove (NASDAQ:BCOV) from a hold rating to a buy rating in a research report report published on Tuesday morning, BidAskClub reports.

A number of other brokerages have also recently commented on BCOV. Zacks Investment Research cut shares of German American Bancorp. from a buy rating to a hold rating in a research report on Tuesday, April 30th. Northland Securities restated a buy rating and set a $14.00 price objective on shares of Brightcove in a research report on Thursday, May 16th. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $12.33.

Shares of NASDAQ BCOV opened at $11.38 on Tuesday. The firm has a 50-day simple moving average of $10.39. The firm has a market capitalization of $441.59 million, a PE ratio of -42.15 and a beta of 0.98. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.93 and a quick ratio of 0.93. Brightcove has a 52 week low of $6.88 and a 52 week high of $11.79.

Brightcove (NASDAQ:BCOV) last issued its earnings results on Wednesday, April 24th. The software maker reported ($0.05) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.07) by $0.02. The business had revenue of $41.80 million during the quarter, compared to analysts’ expectations of $40.22 million. Brightcove had a negative net margin of 10.13% and a negative return on equity of 13.98%. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.06) earnings per share. Equities research analysts expect that Brightcove will post -0.13 earnings per share for the current fiscal year.

Large investors have recently modified their holdings of the stock. State Board of Administration of Florida Retirement System raised its holdings in Brightcove by 8.7% during the first quarter. State Board of Administration of Florida Retirement System now owns 35,527 shares of the software maker’s stock worth $299,000 after purchasing an additional 2,851 shares in the last quarter. Northern Trust Corp raised its holdings in Brightcove by 1.2% during the fourth quarter. Northern Trust Corp now owns 423,184 shares of the software maker’s stock worth $2,979,000 after purchasing an additional 4,924 shares in the last quarter. BNP Paribas Arbitrage SA raised its holdings in Brightcove by 68,190.9% during the first quarter. BNP Paribas Arbitrage SA now owns 7,512 shares of the software maker’s stock worth $63,000 after purchasing an additional 7,501 shares in the last quarter. Marshall Wace North America L.P. acquired a new stake in Brightcove during the first quarter worth approximately $74,000. Finally, Metropolitan Life Insurance Co. NY increased its holdings in shares of Brightcove by 404.8% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 11,822 shares of the software maker’s stock valued at $83,000 after acquiring an additional 9,480 shares during the period. 78.87% of the stock is currently owned by hedge funds and other institutional investors.

About Brightcove

Brightcove Inc provides cloud-based services for video. It offers Video Cloud, an online video platform that enables its customers to publish and distribute video to Internet-connected devices. The company also provides Zencoder, a cloud-based video encoding service for file support, quality and control, speed and reliability, platform and security, and account and integration; SSAI, a cloud-based ad insertion and video stitching service; and Player, a cloud-based service for creating and managing video player experiences.

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