Zacks Investment Research upgraded shares of Brightcove (NASDAQ:BCOV) from a hold rating to a buy rating in a research note published on Wednesday morning. Zacks Investment Research currently has $8.25 target price on the software maker’s stock.

According to Zacks, “Brightcove Inc. is engaged in providing cloud content services for publishing and distributing professional digital media. Its products include Brightcove Video Cloud, an online video platform and Brightcove App Cloud, a software application development and management platform. The Company provides its solutions to media, retail, technology, financial services companies, governments, educational institutions, and non-profit organizations in North America, Europe, and the Asia Pacific. Brightcove Inc. is headquartered in Cambridge, Massachusetts. “

BCOV has been the topic of several other reports. ValuEngine raised Brightcove from a hold rating to a buy rating in a research note on Friday, September 28th. BidaskClub raised Brightcove from a strong sell rating to a sell rating in a research note on Tuesday, September 11th. Finally, B. Riley raised Brightcove from a neutral rating to a buy rating and raised their target price for the stock from $7.00 to $12.00 in a research note on Tuesday, December 11th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has an average rating of Buy and an average price target of $12.05.

Shares of NASDAQ:BCOV traded down $0.03 on Wednesday, reaching $7.37. 61,625 shares of the company traded hands, compared to its average volume of 103,050. Brightcove has a 52 week low of $6.30 and a 52 week high of $10.75. The stock has a market capitalization of $267.95 million, a P/E ratio of -15.35 and a beta of 1.00.

Brightcove (NASDAQ:BCOV) last announced its quarterly earnings data on Thursday, November 1st. The software maker reported ($0.03) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.02. Brightcove had a negative return on equity of 12.75% and a negative net margin of 7.79%. The firm had revenue of $41.10 million for the quarter, compared to analysts’ expectations of $41.82 million. During the same period last year, the firm earned ($0.06) earnings per share. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. As a group, research analysts expect that Brightcove will post -0.32 EPS for the current fiscal year.

In related news, Director Deborah M. Besemer sold 14,000 shares of the firm’s stock in a transaction dated Wednesday, November 7th. The stock was sold at an average price of $7.42, for a total value of $103,880.00. Following the sale, the director now directly owns 100,696 shares of the company’s stock, valued at $747,164.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.90% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of BCOV. Cubist Systematic Strategies LLC bought a new stake in shares of Brightcove in the second quarter worth about $115,000. MetLife Investment Advisors LLC lifted its holdings in Brightcove by 671.8% in the second quarter. MetLife Investment Advisors LLC now owns 17,189 shares of the software maker’s stock worth $166,000 after buying an additional 14,962 shares during the period. California Public Employees Retirement System purchased a new stake in Brightcove in the second quarter worth about $191,000. King Luther Capital Management Corp purchased a new stake in Brightcove in the third quarter worth about $223,000. Finally, Russell Investments Group Ltd. lifted its holdings in Brightcove by 1,099.7% in the second quarter. Russell Investments Group Ltd. now owns 44,700 shares of the software maker’s stock worth $431,000 after buying an additional 40,974 shares during the period. 78.93% of the stock is currently owned by institutional investors.

Brightcove Company Profile

Brightcove Inc provides cloud-based services for video. The company offers Video Cloud, an online video platform that enables its customers to publish and distribute video to Internet-connected devices. Its Video Cloud platform offers various features and functionalities, such as uploading and encoding, content management, video player technology, multi-platform video experiences, live video streaming, distribution and syndication, social media, advertising and monetization, and analytics, as well as APIs, SDKs, and developer resources.

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