Brokerages expect Brightcove Inc (NASDAQ:BCOV) to announce $41.72 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Brightcove’s earnings, with estimates ranging from $41.67 million to $41.80 million. Brightcove posted sales of $39.49 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 5.6%. The company is expected to issue its next earnings report on Thursday, October 25th.
On average, analysts expect that Brightcove will report full-year sales of $167.21 million for the current fiscal year, with estimates ranging from $166.76 million to $167.87 million. For the next fiscal year, analysts expect that the company will report sales of $179.98 million per share, with estimates ranging from $177.75 million to $181.65 million. Zacks’ sales 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, July 26th. The software maker reported ($0.07) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.01). Brightcove had a negative return on equity of 15.19% and a negative net margin of 9.04%. The company had revenue of $41.70 million for the quarter, compared to analyst estimates of $41.63 million. During the same quarter in the prior year, the business earned ($0.16) earnings per share. Brightcove’s revenue was up 7.5% compared to the same quarter last year.
Several analysts have recently weighed in on BCOV shares. Zacks Investment Research downgraded shares of Brightcove from a “hold” rating to a “sell” rating in a report on Tuesday, July 31st. Dougherty & Co reaffirmed a “buy” rating and issued a $14.00 target price (up previously from $11.00) on shares of Brightcove in a report on Thursday, May 31st. BidaskClub downgraded shares of Brightcove from a “sell” rating to a “strong sell” rating in a report on Saturday, July 28th. ValuEngine downgraded shares of Brightcove from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 10th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $13.00 target price (up previously from $11.00) on shares of Brightcove in a report on Friday, June 1st. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. Brightcove has an average rating of “Hold” and an average price target of $11.05.
Shares of NASDAQ:BCOV traded down $0.05 during midday trading on Tuesday, hitting $8.20. The stock had a trading volume of 2,658 shares, compared to its average volume of 126,698. The company has a market cap of $292.73 million, a price-to-earnings ratio of -17.08 and a beta of 1.54. Brightcove has a 1 year low of $6.30 and a 1 year high of $10.75.
In related news, CEO Jeff Ray acquired 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 14th. The shares were purchased at an average price of $8.09 per share, with a total value of $161,800.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 4.90% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp boosted its holdings in Brightcove by 13.7% during the second quarter. Bank of New York Mellon Corp now owns 187,640 shares of the software maker’s stock worth $1,810,000 after buying an additional 22,631 shares in the last quarter. California Public Employees Retirement System purchased a new stake in Brightcove during the second quarter worth about $191,000. Millennium Management LLC raised its position in Brightcove by 118.7% during the second quarter. Millennium Management LLC now owns 667,752 shares of the software maker’s stock worth $6,444,000 after acquiring an additional 362,369 shares during the last quarter. MetLife Investment Advisors LLC raised its position in Brightcove by 671.8% during the second quarter. MetLife Investment Advisors LLC now owns 17,189 shares of the software maker’s stock worth $166,000 after acquiring an additional 14,962 shares during the last quarter. Finally, Sensato Investors LLC acquired a new position in Brightcove during the second quarter worth about $486,000. 75.06% of the stock is currently owned by hedge funds and other institutional investors.
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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