Brightcove Inc. (BCOV) Shares Up 1.8%
Brightcove Inc. (NASDAQ:BCOV) shares 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.
Several research analysts have weighed in on BCOV shares. B. Riley reiterated a “buy” rating and issued a $10.60 price target on shares of Brightcove in a research report on Wednesday, June 8th. Dougherty & Co increased their price target on shares of Brightcove from $10.50 to $13.00 and gave the stock a “buy” rating in a research report on Friday, July 29th. Zacks Investment Research downgraded shares of Brightcove from a “buy” rating to a “hold” rating in a research report on Tuesday, August 9th. Finally, Noble Financial started coverage on shares of Brightcove in a research report on Friday, June 24th. They issued a “buy” rating on the stock. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Brightcove presently has an average rating of “Buy” and a consensus price target of $11.00.
The stock’s market cap is $430.55 million. The company’s 50 day moving average is $11.17 and its 200 day moving average is $7.84.
Brightcove (NASDAQ:BCOV) last posted its earnings results on Thursday, July 28th. The company reported ($0.01) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.01). The firm earned $36.96 million during the quarter, compared to analyst estimates of $36.07 million. During the same quarter in the prior year, the firm earned ($0.04) earnings per share. The business’s revenue for the quarter was up 12.5% on a year-over-year basis. Analysts anticipate that Brightcove Inc. will post $0.08 earnings per share for the current fiscal year.
In related news, Director Scott Kurnit sold 100,000 shares of the business’s stock in a transaction 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 completion of the transaction, 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 SEC, which is accessible through the SEC website. Also, insider Kevin R. Rhodes sold 15,092 shares of the business’s stock in a transaction 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 transaction, the insider now owns 103,436 shares of the company’s stock, 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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