Brightcove Inc. (BCOV) Reaches New 12-Month High at $13.00
Brightcove Inc. (NASDAQ:BCOV) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $13.00 and last traded at $12.98, with a volume of 232,312 shares changing hands. The stock had previously closed at $12.89.
Several equities research analysts have recently weighed in on BCOV shares. B. Riley reissued a “buy” rating and set a $10.60 target price on shares of Brightcove in a research report on Monday, June 13th. Dougherty & Co raised Brightcove from a “neutral” rating to a “buy” rating and set a $10.50 target price on the stock in a research report on Thursday, June 16th. Zacks Investment Research lowered Brightcove from a “buy” rating to a “hold” rating in a research report on Tuesday, August 9th. Finally, Noble Financial started coverage on Brightcove in a research report on Friday, June 24th. They set a “buy” rating on the stock. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $11.00.
The company’s 50-day moving average is $11.21 and its 200-day moving average is $7.88. The firm’s market capitalization is $439.47 million.
Brightcove (NASDAQ:BCOV) last issued its quarterly earnings data on Thursday, July 28th. The company reported ($0.01) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.01). The business earned $36.96 million during the quarter, compared to the consensus estimate of $36.07 million. During the same period last year, the company earned ($0.04) earnings per share. 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 EPS for the current fiscal year.
In related news, insider Kevin R. Rhodes sold 15,092 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 103,436 shares of the company’s stock, valued at approximately $1,228,819.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Scott Kurnit sold 100,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 182,409 shares of the company’s stock, 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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