Brightcove (NASDAQ:BCOV) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Tuesday.

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. “

BCOV has been the subject of a number of other research reports. BidaskClub downgraded Brightcove from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 28th. ValuEngine cut Brightcove from a “buy” rating to a “hold” rating in a research report on Wednesday, August 8th. Dougherty & Co reiterated a “buy” rating and issued a $14.00 target price (up previously from $11.00) on shares of Brightcove in a research report on Thursday, May 31st. LADENBURG THALM/SH SH reiterated a “buy” rating and issued a $13.00 target price on shares of Brightcove in a research report on Wednesday, June 6th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $13.00 target price (up previously from $11.00) on shares of Brightcove in a research report on Friday, June 1st. Two analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. Brightcove currently has an average rating of “Hold” and a consensus target price of $11.05.

BCOV stock traded up $0.05 during midday trading on Tuesday, reaching $8.25. The company had a trading volume of 58,708 shares, compared to its average volume of 206,005. The company has a market cap of $296.32 million, a PE ratio of -17.19 and a beta of 1.54. Brightcove has a 1-year low of $6.30 and a 1-year high of $10.75.

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

In other news, CEO Jeff Ray purchased 20,000 shares of Brightcove stock in a transaction dated Tuesday, August 14th. The shares were bought at an average cost of $8.09 per share, for a total transaction of $161,800.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 4.90% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Acadian Asset Management LLC acquired a new position in Brightcove in the second quarter valued at approximately $115,000. Cubist Systematic Strategies LLC acquired a new position in shares of Brightcove during the second quarter worth approximately $115,000. MetLife Investment Advisors LLC raised its position in shares of Brightcove by 671.8% during the second quarter. MetLife Investment Advisors LLC now owns 17,189 shares of the software maker’s stock worth $166,000 after purchasing an additional 14,962 shares during the period. California Public Employees Retirement System acquired a new position in shares of Brightcove during the second quarter worth approximately $191,000. Finally, Citigroup Inc. raised its position in shares of Brightcove by 927.5% during the first quarter. Citigroup Inc. now owns 35,008 shares of the software maker’s stock worth $243,000 after purchasing an additional 31,601 shares during the period. Institutional investors and hedge funds own 75.05% of the company’s stock.

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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