Brightcove Inc. (BCOV) Sees Strong Trading Volume
Shares of Brightcove Inc. (NASDAQ:BCOV) saw unusually-strong trading volume on Friday . Approximately 735,149 shares were traded during 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 research analysts recently issued reports on BCOV shares. Dougherty & Co increased their target price on shares of Brightcove from $10.50 to $13.00 and gave the stock a “buy” rating in a research note on Friday, July 29th. Noble Financial started coverage on shares of Brightcove in a research note on Friday, June 24th. They set a “buy” rating on the stock. Zacks Investment Research raised shares of Brightcove from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a research note on Wednesday, August 10th. Finally, B. Riley reissued a “buy” rating and set a $11.00 target price on shares of Brightcove in a research note on Wednesday, August 3rd. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $11.00.
The firm’s market cap is $439.47 million. The firm’s 50-day moving average price is $11.27 and its 200-day moving average price is $7.88.
Brightcove (NASDAQ:BCOV) last announced its quarterly earnings data on Thursday, July 28th. The company reported ($0.01) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.01). During the same quarter in the previous year, the firm posted ($0.04) earnings per share. The business earned $36.96 million during the quarter, compared to the consensus estimate of $36.07 million. The company’s revenue was up 12.5% compared to the same quarter last year. On average, equities research analysts anticipate that Brightcove Inc. will post $0.08 EPS for the current fiscal year.
In other news, Director Scott Kurnit sold 100,000 shares of the business’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 completion of the sale, the director now directly owns 182,409 shares in the company, valued at approximately $2,192,556.18. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Kevin R. Rhodes sold 15,092 shares of the business’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 completion of the sale, 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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