Brightcove Inc (NASDAQ:BCOV) has earned a consensus rating of “Hold” from the nine brokerages that are covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $11.81.

A number of brokerages recently weighed in on BCOV. BidaskClub downgraded shares of Brightcove from a “hold” rating to a “sell” rating in a report on Thursday, July 12th. ValuEngine downgraded shares of Brightcove from a “buy” rating to a “hold” rating in a report on Wednesday, August 8th. Finally, Zacks Investment Research downgraded shares of Brightcove from a “hold” rating to a “sell” rating in a report on Tuesday, July 31st.

Shares of NASDAQ:BCOV traded down $0.01 during midday trading on Friday, reaching $8.00. The company had a trading volume of 2,721 shares, compared to its average volume of 200,249. The company has a market capitalization of $301.71 million, a P/E ratio of -16.69 and a beta of 1.46. Brightcove has a 52-week low of $6.30 and a 52-week high of $10.75.

Brightcove (NASDAQ:BCOV) last issued its quarterly earnings results on Thursday, July 26th. The software maker reported ($0.07) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.01). The company had revenue of $41.70 million during the quarter, compared to analysts’ expectations of $41.63 million. Brightcove had a negative return on equity of 15.19% and a negative net margin of 9.04%. Brightcove’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same period last year, the firm posted ($0.16) earnings per share. As a group, analysts predict that Brightcove will post -0.31 EPS for the current year.

In related news, CEO Jeff Ray purchased 20,000 shares of the firm’s stock in a transaction dated Tuesday, August 14th. The shares were purchased at an average cost of $8.09 per share, for a total transaction of $161,800.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.90% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Acadian Asset Management LLC bought a new stake in shares of Brightcove during the second quarter valued at about $115,000. Cubist Systematic Strategies LLC bought a new position in shares of Brightcove in the second quarter worth approximately $115,000. MetLife Investment Advisors LLC increased its position in shares of 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 purchasing an additional 14,962 shares during the last quarter. California Public Employees Retirement System bought a new position in shares of Brightcove in the second quarter worth approximately $191,000. Finally, Citigroup Inc. increased its position in shares of Brightcove by 927.5% in the first quarter. Citigroup Inc. now owns 35,008 shares of the software maker’s stock worth $243,000 after purchasing an additional 31,601 shares during the last quarter. Hedge funds and other institutional investors own 75.05% of the company’s stock.

About Brightcove

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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Analyst Recommendations for Brightcove (NASDAQ:BCOV)

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