Brightcove (NASDAQ:BCOV) Stock Rating Upgraded by Lake Street Capital

Lake Street Capital upgraded shares of Brightcove (NASDAQ:BCOV) from a hold rating to a buy rating in a report released on Tuesday, MarketBeat.com reports. Lake Street Capital currently has $3.50 price objective on the software maker’s stock, up from their prior price objective of $2.75.

Separately, StockNews.com raised Brightcove from a “hold” rating to a “buy” rating in a report on Thursday, September 5th.

Brightcove Stock Up 19.2 %

Shares of BCOV stock opened at $2.55 on Tuesday. Brightcove has a 12 month low of $1.55 and a 12 month high of $2.88. The company has a market cap of $114.55 million, a PE ratio of -12.75 and a beta of 0.74. The business’s 50 day moving average is $2.17 and its two-hundred day moving average is $2.16.

Brightcove (NASDAQ:BCOV) last released its quarterly earnings results on Wednesday, August 7th. The software maker reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.01. The company had revenue of $49.25 million during the quarter. Brightcove had a negative net margin of 4.28% and a negative return on equity of 8.86%. During the same quarter last year, the company earned ($0.07) earnings per share. As a group, equities analysts expect that Brightcove will post -0.32 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Edenbrook Capital, Llc purchased 20,000 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were purchased at an average cost of $1.98 per share, for a total transaction of $39,600.00. Following the completion of the purchase, the insider now directly owns 6,581,414 shares of the company’s stock, valued at approximately $13,031,199.72. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have purchased 98,988 shares of company stock worth $200,689 in the last ninety days. Insiders own 4.20% of the company’s stock.

Institutional Trading of Brightcove

Several institutional investors have recently made changes to their positions in the business. Pitcairn Co. bought a new position in Brightcove during the first quarter worth about $27,000. Price T Rowe Associates Inc. MD acquired a new stake in Brightcove in the 1st quarter valued at $29,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in Brightcove in the first quarter valued at $33,000. Aaron Wealth Advisors LLC acquired a new position in Brightcove during the second quarter worth $34,000. Finally, XTX Topco Ltd bought a new position in shares of Brightcove during the second quarter valued at $36,000. 80.12% of the stock is currently owned by institutional investors and hedge funds.

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.