Brightcove (NASDAQ:BCOV) Coverage Initiated at StockNews.com

StockNews.com started coverage on shares of Brightcove (NASDAQ:BCOV) in a research report report published on Thursday morning. The firm issued a buy rating on the software maker’s stock.

Several other research analysts have also weighed in on the stock. Lake Street Capital lowered shares of Brightcove from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 25th. Rosenblatt Securities restated a “neutral” rating and issued a $4.45 target price (down previously from $5.00) on shares of Brightcove in a research note on Monday, November 25th.

Brightcove Price Performance

BCOV opened at $4.36 on Thursday. The stock has a fifty day moving average of $3.46 and a 200-day moving average of $2.66. The firm has a market capitalization of $196.79 million, a P/E ratio of -20.76 and a beta of 1.02. Brightcove has a 12-month low of $1.55 and a 12-month high of $4.40.

Institutional Investors Weigh In On Brightcove

Several institutional investors and hedge funds have recently modified their holdings of BCOV. XTX Topco Ltd acquired a new stake in shares of Brightcove in the second quarter worth $36,000. Wedbush Securities Inc. bought a new position in shares of Brightcove in the second quarter worth about $47,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Brightcove during the 2nd quarter worth about $53,000. Cubist Systematic Strategies LLC bought a new stake in Brightcove during the 2nd quarter valued at approximately $54,000. Finally, JPMorgan Chase & Co. grew its holdings in Brightcove by 99.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 30,689 shares of the software maker’s stock valued at $66,000 after buying an additional 15,291 shares during the last quarter. Institutional investors and hedge funds 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.