Brightcove Inc. (BCOV) Hits New 12-Month High at $13.00
Brightcove Inc. (NASDAQ:BCOV) reached a new 52-week high on Thursday . The company traded as high as $13.00 and last traded at $12.98, with a volume of 232,312 shares. The stock had previously closed at $12.89.
A number of research firms have recently weighed in on BCOV. B. Riley restated a “buy” rating and set a $11.00 target price on shares of Brightcove in a research report on Wednesday, August 3rd. Zacks Investment Research upgraded Brightcove from a “hold” rating to a “buy” rating and set a $9.50 target price for the company in a research report on Tuesday, June 28th. Noble Financial began coverage on Brightcove in a research report on Friday, June 24th. They set a “buy” rating for the company. Finally, Dougherty & Co boosted their target price on Brightcove from $10.50 to $13.00 and gave the stock a “buy” rating in a research report on Friday, July 29th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $11.00.
The company’s 50 day moving average price is $11.07 and its 200-day moving average price is $7.80. The company’s market capitalization is $426.41 million.
Brightcove (NASDAQ:BCOV) last posted its quarterly earnings data on Thursday, July 28th. The company reported ($0.01) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.01). The company had revenue of $36.96 million for the quarter, compared to the consensus estimate of $36.07 million. During the same quarter last year, the business earned ($0.04) EPS. Brightcove’s revenue was up 12.5% on a year-over-year basis. Analysts expect that Brightcove Inc. will post $0.08 EPS for the current fiscal year.
In other Brightcove news, Director Scott Kurnit sold 100,000 shares of the firm’s stock in a transaction on Friday, August 26th. The stock was sold at an average price of $12.02, for a total value of $1,202,000.00. Following the sale, the director now owns 182,409 shares of the company’s stock, valued at approximately $2,192,556.18. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Kevin R. Rhodes sold 15,092 shares of the firm’s stock in a transaction on Tuesday, August 23rd. The shares were sold at an average price of $11.88, for a total value of $179,292.96. Following the completion of the sale, the insider now directly owns 103,436 shares in the company, valued at approximately $1,228,819.68. 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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