Brightcove Inc. (BCOV) Shares Up 1.8%
Brightcove Inc. (NASDAQ:BCOV)’s share price shot up 1.8% on Wednesday . The company traded as high as $12.87 and last traded at $12.77, with a volume of 200,155 shares changing hands. The stock had previously closed at $12.54.
A number of research firms recently weighed in on BCOV. Zacks Investment Research upgraded shares of Brightcove from a “hold” rating to a “buy” rating and set a $13.00 price objective on the stock in a research report on Wednesday, August 10th. Noble Financial began coverage on shares of Brightcove in a research report on Friday, June 24th. They issued a “buy” rating on the stock. B. Riley reiterated a “buy” rating and issued a $10.60 price objective on shares of Brightcove in a research report on Monday, June 13th. Finally, Dougherty & Co upgraded shares of Brightcove from a “neutral” rating to a “buy” rating and set a $10.50 price objective on the stock in a research report on Thursday, June 16th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $11.00.
The company’s market cap is $425.59 million. The company has a 50 day moving average of $10.99 and a 200 day moving average of $7.76.
Brightcove (NASDAQ:BCOV) last released its earnings results on Thursday, July 28th. The company reported ($0.01) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.01). During the same quarter last year, the company posted ($0.04) earnings per share. The business had revenue of $36.96 million for the quarter, compared to analysts’ expectations of $36.07 million. The business’s quarterly revenue was up 12.5% compared to the same quarter last year. Equities research analysts predict that Brightcove Inc. will post $0.08 earnings per share for the current fiscal year.
In related news, insider Kevin R. Rhodes sold 15,092 shares of the company’s stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $11.88, for a total transaction of $179,292.96. Following the sale, the insider now directly owns 103,436 shares of the company’s stock, valued at approximately $1,228,819.68. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Scott Kurnit sold 100,000 shares of the company’s stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $12.02, for a total value of $1,202,000.00. Following the sale, the director now directly owns 182,409 shares in the company, valued at $2,192,556.18. The disclosure for this sale can be found here.
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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