Brightcove (NASDAQ:BCOV) announced its quarterly earnings results on Thursday. The software maker reported $0.04 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.03) by $0.07, Bloomberg Earnings reports. The business had revenue of $40.10 million during the quarter, compared to analysts’ expectations of $39.52 million. Brightcove had a negative net margin of 12.52% and a negative return on equity of 22.92%. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.03 EPS. Brightcove updated its Q1 guidance to ($0.08)-($0.06) EPS and its FY18 guidance to ($0.06)-$0.02 EPS.
Shares of Brightcove (NASDAQ:BCOV) traded down $0.15 during midday trading on Friday, reaching $7.15. 358,788 shares of the company’s stock traded hands, compared to its average volume of 120,811. Brightcove has a 1-year low of $5.40 and a 1-year high of $9.30. The company has a market cap of $252.82, a price-to-earnings ratio of -12.54 and a beta of 1.86.
A hedge fund recently raised its stake in Brightcove stock. The Manufacturers Life Insurance Company grew its stake in Brightcove Inc (NASDAQ:BCOV) by 22.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,591 shares of the software maker’s stock after purchasing an additional 5,494 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.09% of Brightcove worth $183,000 at the end of the most recent quarter. 62.72% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages have weighed in on BCOV. Zacks Investment Research raised shares of Brightcove from a “hold” rating to a “buy” rating and set a $9.00 price target for the company in a research report on Wednesday, November 1st. BidaskClub raised shares of Brightcove from a “sell” rating to a “hold” rating in a research report on Friday. Northland Securities raised shares of Brightcove from a “market perform” rating to an “outperform” rating in a research report on Friday, October 27th. B. Riley reissued a “hold” rating and set a $7.25 price target on shares of Brightcove in a research report on Friday, October 27th. Finally, Stifel Nicolaus increased their price target on shares of Brightcove from $10.50 to $11.00 and gave the company a “buy” rating in a research report on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $8.44.
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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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