Brightcove (NASDAQ:BCOV) Earns Buy Rating from Analysts at StockNews.com

by · The Cerbat Gem

Analysts at StockNews.com initiated coverage on shares of Brightcove (NASDAQ:BCOV – Get Free Report) in a research note issued on Thursday. The brokerage set a “buy” rating on the software maker’s stock.

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

View Our Latest Stock Report on Brightcove

Brightcove Stock Performance

NASDAQ BCOV opened at $4.36 on Thursday. Brightcove has a 52-week low of $1.55 and a 52-week high of $4.40. The company has a fifty day moving average of $3.41 and a 200-day moving average of $2.64. The company has a market capitalization of $196.79 million, a P/E ratio of -20.76 and a beta of 1.02.

Hedge Funds Weigh In On Brightcove

A number of large investors have recently bought and sold shares of the stock. XTX Topco Ltd purchased a new stake in shares of Brightcove during the second quarter valued at approximately $36,000. Wedbush Securities Inc. purchased a new stake in Brightcove during the 2nd quarter valued at $47,000. Allspring Global Investments Holdings LLC bought a new stake in Brightcove in the 2nd quarter worth $53,000. Cubist Systematic Strategies LLC purchased a new position in shares of Brightcove in the second quarter valued at about $54,000. Finally, JPMorgan Chase & Co. increased its position 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 valued at $66,000 after acquiring an additional 15,291 shares during the period. 80.12% of the stock is owned by hedge funds and other institutional investors.

Brightcove Company Profile

(Get Free Report)

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.

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