Brightcove Inc. (BCOV) Sets New 52-Week High at $12.53
Brightcove Inc. (NASDAQ:BCOV) reached a new 52-week high on Friday . The stock traded as high as $12.53 and last traded at $12.44, with a volume of 420,089 shares changing hands. The stock had previously closed at $11.74.
Several equities research analysts have recently weighed in on the company. B. Riley reiterated a “buy” rating and issued a $10.60 price objective on shares of Brightcove in a research note on Monday, June 13th. Dougherty & Co upgraded Brightcove from a “neutral” rating to a “buy” rating and set a $10.50 price target on the stock in a research report on Thursday, June 16th. Zacks Investment Research lowered Brightcove from a “buy” rating to a “hold” rating in a research report on Tuesday, August 9th. Finally, Noble Financial began coverage on Brightcove in a research report on Friday, June 24th. They set a “buy” rating on the stock. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $11.00.
The firm’s market cap is $412.69 million. The company has a 50 day moving average price of $10.72 and a 200-day moving average price of $7.56.
Brightcove (NASDAQ:BCOV) last issued its quarterly earnings data on Thursday, July 28th. The company reported ($0.01) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.01). During the same quarter last year, the business earned ($0.04) earnings per share. The company had revenue of $36.96 million for the quarter, compared to analyst estimates of $36.07 million. The company’s revenue was up 12.5% on a year-over-year basis. Equities research analysts anticipate that Brightcove Inc. will post $0.08 earnings per share for the current year.
In other Brightcove news, insider Kevin R. Rhodes sold 15,092 shares of the firm’s stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $11.88, for a total transaction of $179,292.96. Following the completion of the sale, the insider now directly owns 103,436 shares in the company, valued at $1,228,819.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Brightcove Inc is a provider of cloud-based services for video. The Company’s flagship product is Brightcove Video Cloud (Video Cloud), an online video platform. Its other products include Brightcove Zencoder (Zencoder), Brightcove Once (Once), Brightcove Gallery (Gallery), Brightcove Perform (Perform), Brightcove Video Marketing Suite (Video Marketing Suite) and Brightcove Lift (Lift).
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