Brightcove Inc. (BCOV) Sees Large Volume Increase
Brightcove Inc. (NASDAQ:BCOV) shares saw unusually-strong trading volume on Friday . Approximately 735,149 shares traded hands during mid-day trading, an increase of 82% from the previous session’s volume of 403,329 shares.The stock last traded at $13.47 and had previously closed at $13.02.
Several equities analysts recently commented on BCOV shares. B. Riley restated a “buy” rating and issued a $11.00 price target on shares of Brightcove in a research note on Wednesday, August 3rd. Dougherty & Co upped their price target on shares of Brightcove from $10.50 to $13.00 and gave the company a “buy” rating in a research note on Friday, July 29th. Zacks Investment Research upgraded shares of Brightcove from a “hold” rating to a “buy” rating and set a $9.50 price target on the stock in a research note on Tuesday, June 28th. Finally, Noble Financial started coverage on shares of Brightcove in a research note on Friday, June 24th. They issued a “buy” rating on the stock. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $11.00.
The stock’s market cap is $439.47 million. The stock has a 50 day moving average price of $11.21 and a 200 day moving average price of $7.88.
Brightcove (NASDAQ:BCOV) last released its earnings results on Thursday, July 28th. The company reported ($0.01) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.01). During the same quarter in the previous year, the firm earned ($0.04) earnings per share. The business had revenue of $36.96 million for the quarter, compared to the consensus estimate of $36.07 million. The company’s revenue for the quarter was up 12.5% on a year-over-year basis. Analysts predict that Brightcove Inc. will post $0.08 EPS for the current fiscal year.
In other news, Director Scott Kurnit sold 100,000 shares of Brightcove stock in a transaction on Friday, August 26th. The stock was sold at an average price of $12.02, for a total transaction of $1,202,000.00. Following the sale, the director now directly owns 182,409 shares in the company, valued at approximately $2,192,556.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kevin R. Rhodes sold 15,092 shares of Brightcove stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $11.88, for a total value of $179,292.96. Following the sale, the insider now owns 103,436 shares in the company, valued at $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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