Brightcove (NASDAQ:BCOV) Lowered to “Buy” at StockNews.com

StockNews.com cut shares of Brightcove (NASDAQ:BCOV) from a strong-buy rating to a buy rating in a research report report published on Monday.

Brightcove Price Performance

Shares of NASDAQ BCOV opened at $2.15 on Monday. The firm has a market cap of $95.85 million, a price-to-earnings ratio of -9.77 and a beta of 0.74. The stock’s fifty day moving average price is $2.28 and its two-hundred day moving average price is $2.11. Brightcove has a one year low of $1.55 and a one year high of $4.09.

Brightcove (NASDAQ:BCOV) last released its quarterly earnings results on Wednesday, May 8th. The software maker reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.02. Brightcove had a negative net margin of 4.74% and a negative return on equity of 7.87%. The business had revenue of $50.48 million for the quarter. On average, equities analysts anticipate that Brightcove will post -0.31 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Brightcove

Hedge funds have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC raised its stake in Brightcove by 17.3% in the second quarter. Acadian Asset Management LLC now owns 940,508 shares of the software maker’s stock valued at $2,227,000 after purchasing an additional 139,049 shares in the last quarter. First Eagle Investment Management LLC acquired a new position in Brightcove during the 1st quarter worth approximately $642,000. GSA Capital Partners LLP lifted its stake in Brightcove by 151.0% in the 1st quarter. GSA Capital Partners LLP now owns 225,176 shares of the software maker’s stock valued at $437,000 after purchasing an additional 135,462 shares during the last quarter. BNP Paribas Financial Markets boosted its position in Brightcove by 26.6% in the first quarter. BNP Paribas Financial Markets now owns 107,074 shares of the software maker’s stock valued at $208,000 after buying an additional 22,466 shares in the last quarter. Finally, Quadrature Capital Ltd grew its stake in shares of Brightcove by 12.4% during the first quarter. Quadrature Capital Ltd now owns 84,963 shares of the software maker’s stock worth $165,000 after buying an additional 9,353 shares during the last quarter. Institutional investors own 80.12% of the company’s stock.

About Brightcove

Brightcove Inc provides cloud-based streaming services the Americas, Europe, the Asia Pacific, Japan, India, and the Middle East. It offers Video Cloud, an online video streaming platform that enables its customers to publish, deliver, and distribute high-quality video to internet-connected devices. The company's solutions and products comprise Brightcove Marketing Studio, a video streaming solution; Brightcove Communications Studio for marketers and corporate communications professionals; Brightcove Media Studio, a solution for over-the-top (OTT) video services, media publishers, and leading broadcasters to monetize their media, live stream at scale, and nurture their audience lifecycle; Brightcove Audience Insights, a customer data platform for video streaming businesses; Zencoder, a cloud-based video encoding service; and Brightcove Beacon, a platform that enables its customers to launch premium OTT video streaming experiences, as well as Brightcove Marketplace.