Brightcove Inc (NASDAQ:BCOV) has been assigned an average rating of “Hold” from the nine brokerages that are currently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $11.81.

A number of analysts have recently weighed in on BCOV shares. Zacks Investment Research cut shares of Brightcove from a “hold” rating to a “sell” rating in a report on Tuesday, July 31st. Dougherty & Co restated a “buy” rating and issued a $14.00 price target (up from $11.00) on shares of Brightcove in a report on Thursday, May 31st. BidaskClub cut shares of Brightcove from a “sell” rating to a “strong sell” rating in a report on Saturday, July 28th. ValuEngine cut shares of Brightcove from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 10th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $13.00 price target (up from $11.00) on shares of Brightcove in a report on Friday, June 1st.

In related news, CEO Jeff Ray acquired 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 14th. The stock was purchased at an average cost of $8.09 per share, with a total value of $161,800.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 4.90% of the company’s stock.

Several institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its position in shares of Brightcove by 13.6% in the 2nd quarter. BlackRock Inc. now owns 2,401,585 shares of the software maker’s stock valued at $23,174,000 after purchasing an additional 287,246 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Brightcove by 45.1% in the 2nd quarter. Renaissance Technologies LLC now owns 2,324,400 shares of the software maker’s stock valued at $22,430,000 after purchasing an additional 722,587 shares during the last quarter. Tenzing Global Management LLC raised its position in shares of Brightcove by 23.1% in the 2nd quarter. Tenzing Global Management LLC now owns 1,750,000 shares of the software maker’s stock valued at $16,888,000 after purchasing an additional 328,100 shares during the last quarter. Hawk Ridge Capital Management LP raised its position in shares of Brightcove by 19.3% in the 1st quarter. Hawk Ridge Capital Management LP now owns 1,724,197 shares of the software maker’s stock valued at $11,983,000 after purchasing an additional 279,036 shares during the last quarter. Finally, Trigran Investments Inc. raised its position in shares of Brightcove by 174.7% in the 2nd quarter. Trigran Investments Inc. now owns 793,337 shares of the software maker’s stock valued at $7,656,000 after purchasing an additional 504,492 shares during the last quarter. 75.05% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ:BCOV traded down $0.05 during trading on Wednesday, reaching $8.20. The stock had a trading volume of 104,083 shares, compared to its average volume of 206,806. Brightcove has a one year low of $6.30 and a one year high of $10.75. The stock has a market capitalization of $296.32 million, a P/E ratio of -17.14 and a beta of 1.54.

Brightcove (NASDAQ:BCOV) last released its quarterly earnings results on Thursday, July 26th. The software maker reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01). Brightcove had a negative net margin of 9.04% and a negative return on equity of 15.19%. The firm had revenue of $41.70 million during the quarter, compared to the consensus estimate of $41.63 million. During the same quarter in the prior year, the business posted ($0.16) earnings per share. The firm’s quarterly revenue was up 7.5% on a year-over-year basis. equities analysts expect that Brightcove will post -0.31 earnings per share for the current fiscal year.

About Brightcove

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.

Read More: Compound Annual Growth Rate (CAGR)

Analyst Recommendations for Brightcove (NASDAQ:BCOV)

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