Zacks: Brokerages Anticipate Brightcove Inc. (NASDAQ:BCOV) Will Post Earnings of -$0.19 Per Share
Brokerages expect Brightcove Inc. (NASDAQ:BCOV) to report ($0.19) earnings per share for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Brightcove’s earnings. The highest EPS estimate is ($0.18) and the lowest is ($0.20). Brightcove reported earnings of ($0.05) per share during the same quarter last year, which would indicate a negative year over year growth rate of 280%. The company is expected to report its next quarterly earnings report after the market closes on Wednesday, July 26th.
On average, analysts expect that Brightcove will report full year earnings of ($0.49) per share for the current financial year, with EPS estimates ranging from ($0.53) to ($0.44). For the next year, analysts expect that the business will post earnings of ($0.22) per share, with EPS estimates ranging from ($0.36) to ($0.07). Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that follow Brightcove.
Brightcove (NASDAQ:BCOV) last announced its quarterly earnings results on Thursday, May 4th. The software maker reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by $0.04. Brightcove had a negative net margin of 8.88% and a negative return on equity of 12.25%. The company had revenue of $37.60 million during the quarter, compared to analyst estimates of $37.38 million. During the same quarter in the prior year, the company posted $0.02 earnings per share. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis.
Several research firms have recently issued reports on BCOV. Northland Securities restated a “hold” rating and set a $7.00 price objective on shares of Brightcove in a report on Friday. ValuEngine downgraded shares of Brightcove from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. Stifel Nicolaus dropped their price objective on shares of Brightcove from $13.00 to $10.50 and set a “buy” rating on the stock in a report on Monday, May 15th. TheStreet downgraded shares of Brightcove from a “c-” rating to a “d+” rating in a report on Tuesday, May 9th. Finally, B. Riley downgraded shares of Brightcove to a “neutral” rating and set a $5.50 price objective on the stock. in a report on Wednesday, May 10th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. Brightcove presently has an average rating of “Hold” and a consensus price target of $10.40.
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Shares of Brightcove (NASDAQ:BCOV) traded down 2.22% during mid-day trading on Tuesday, hitting $6.60. The stock had a trading volume of 446,880 shares. The stock has a 50-day moving average price of $6.29 and a 200 day moving average price of $7.36. Brightcove has a 52 week low of $5.40 and a 52 week high of $13.80. The stock’s market cap is $222.97 million.
A number of hedge funds have recently bought and sold shares of the stock. Algert Global LLC boosted its stake in Brightcove by 13.0% in the first quarter. Algert Global LLC now owns 277,351 shares of the software maker’s stock worth $2,468,000 after buying an additional 31,954 shares during the last quarter. Pembroke Management LTD boosted its stake in Brightcove by 32.3% in the first quarter. Pembroke Management LTD now owns 1,183,800 shares of the software maker’s stock worth $10,535,000 after buying an additional 289,300 shares during the last quarter. Wells Fargo & Company MN boosted its stake in Brightcove by 4.0% in the first quarter. Wells Fargo & Company MN now owns 26,806 shares of the software maker’s stock worth $239,000 after buying an additional 1,035 shares during the last quarter. Essex Investment Management Co. LLC boosted its stake in Brightcove by 32.2% in the first quarter. Essex Investment Management Co. LLC now owns 132,261 shares of the software maker’s stock worth $1,177,000 after buying an additional 32,178 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in Brightcove by 7.9% in the first quarter. Russell Investments Group Ltd. now owns 15,600 shares of the software maker’s stock worth $139,000 after buying an additional 1,143 shares during the last quarter. 74.74% of the stock is currently owned by institutional investors and hedge funds.
Brightcove Company Profile
Brightcove Inc is a global provider of cloud-based services for video. The Company’s products and services include Brightcove Video Cloud (Video Cloud), Brightcove Zencoder (Zencoder), Brightcove Once (Once), Brightcove Perform (Perform), Brightcove Video Marketing Suite (Video Marketing Suite), Brightcove Lift (Lift), Brightcove OTT Flow (OTT Flow) and Brightcove Enterprise Video Suite (Enterprise Video Suite), among others.
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