Wall Street brokerages predict that Brightcove Inc (NASDAQ:BCOV) will post sales of $45.68 million for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Brightcove’s earnings, with estimates ranging from $45.54 million to $45.82 million. Brightcove reported sales of $41.65 million during the same quarter last year, which suggests a positive year over year growth rate of 9.7%. The company is expected to issue its next earnings report on Thursday, July 25th.
On average, analysts expect that Brightcove will report full-year sales of $183.98 million for the current financial year, with estimates ranging from $183.18 million to $184.78 million. For the next financial year, analysts forecast that the firm will post sales of $200.13 million, with estimates ranging from $199.54 million to $200.72 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that that provide coverage for Brightcove.
Brightcove (NASDAQ:BCOV) last posted its quarterly earnings results on Wednesday, April 24th. The software maker reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.02. The company had revenue of $41.80 million for the quarter, compared to the consensus estimate of $40.22 million. Brightcove had a negative return on equity of 13.98% and a negative net margin of 10.13%. The firm’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.06) EPS.
Several analysts recently weighed in on BCOV shares. Northland Securities restated a “buy” rating and issued a $14.00 price target on shares of Brightcove in a research note on Thursday, May 16th. BidaskClub upgraded Brightcove from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 18th. Finally, Zacks Investment Research upgraded Brightcove from a “hold” rating to a “buy” rating and set a $9.00 price target on the stock in a research note on Tuesday, February 5th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $12.83.
Shares of Brightcove stock traded down $0.11 during midday trading on Friday, hitting $10.39. The company had a trading volume of 81,410 shares, compared to its average volume of 128,939. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $393.16 million, a P/E ratio of -38.48 and a beta of 1.11. Brightcove has a 52-week low of $6.88 and a 52-week high of $10.75.
In other Brightcove news, CEO Jeff Ray acquired 5,000 shares of the stock in a transaction that occurred on Monday, February 25th. The shares were acquired at an average cost of $8.45 per share, with a total value of $42,250.00. Following the transaction, the chief executive officer now owns 25,000 shares of the company’s stock, valued at approximately $211,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.90% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its position in Brightcove by 4.0% in the 1st quarter. Geode Capital Management LLC now owns 432,420 shares of the software maker’s stock valued at $3,636,000 after acquiring an additional 16,477 shares in the last quarter. Renaissance Technologies LLC lifted its position in Brightcove by 7.0% in the 1st quarter. Renaissance Technologies LLC now owns 2,171,051 shares of the software maker’s stock valued at $18,259,000 after acquiring an additional 142,700 shares in the last quarter. Marshall Wace North America L.P. bought a new position in Brightcove in the 1st quarter valued at approximately $74,000. Jacobs Levy Equity Management Inc. lifted its position in Brightcove by 21.9% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 320,440 shares of the software maker’s stock valued at $2,695,000 after acquiring an additional 57,500 shares in the last quarter. Finally, Trigran Investments Inc. lifted its position in Brightcove by 1.6% in the 1st quarter. Trigran Investments Inc. now owns 3,481,578 shares of the software maker’s stock valued at $29,280,000 after acquiring an additional 56,492 shares in the last quarter. 76.86% of the stock is currently owned by institutional investors and hedge funds.
Brightcove Company Profile
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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