Brightcove (NASDAQ:BCOV) Coverage Initiated at StockNews.com

Investment analysts at StockNews.com initiated coverage on shares of Brightcove (NASDAQ:BCOV) in a research report issued on Monday. The brokerage set a “buy” rating on the software maker’s stock.

A number of other equities analysts have also weighed in on BCOV. Lake Street Capital lowered shares of Brightcove from a “strong-buy” rating to a “hold” rating in a report on Monday, November 25th. Rosenblatt Securities restated a “neutral” rating and issued a $4.45 price target (down previously from $5.00) on shares of Brightcove in a research note on Monday, November 25th.

Brightcove Stock Performance

Shares of BCOV stock opened at $4.43 on Monday. The company has a market capitalization of $199.97 million, a price-to-earnings ratio of -21.09 and a beta of 1.01. Brightcove has a one year low of $1.55 and a one year high of $4.44. The company’s 50-day moving average is $4.28 and its 200 day moving average is $2.99.

Hedge Funds Weigh In On Brightcove

A number of institutional investors and hedge funds have recently modified their holdings of BCOV. XTX Topco Ltd purchased a new stake in Brightcove during the second quarter valued at approximately $36,000. R Squared Ltd purchased a new position in Brightcove during the fourth quarter valued at approximately $90,000. Cubist Systematic Strategies LLC bought a new position in shares of Brightcove in the second quarter worth approximately $54,000. JPMorgan Chase & Co. increased its stake in shares of Brightcove by 99.3% in the third quarter. JPMorgan Chase & Co. now owns 30,689 shares of the software maker’s stock worth $66,000 after purchasing an additional 15,291 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Brightcove during the 2nd quarter valued at $142,000. 80.12% of the stock is currently owned by hedge funds and other institutional investors.

Brightcove Company Profile

Brightcove Inc provides cloud-based streaming services the Americas, Europe, the Asia Pacific, Japan, India, and the Middle East. It offers Video Cloud, an online video streaming platform that enables its customers to publish, deliver, and distribute high-quality video to internet-connected devices. The company’s solutions and products comprise Brightcove Marketing Studio, a video streaming solution; Brightcove Communications Studio for marketers and corporate communications professionals; Brightcove Media Studio, a solution for over-the-top (OTT) video services, media publishers, and leading broadcasters to monetize their media, live stream at scale, and nurture their audience lifecycle; Brightcove Audience Insights, a customer data platform for video streaming businesses; Zencoder, a cloud-based video encoding service; and Brightcove Beacon, a platform that enables its customers to launch premium OTT video streaming experiences, as well as Brightcove Marketplace.