Brightcove (NASDAQ:BCOV) Stock Passes Above Fifty Day Moving Average of $10.14

Brightcove Inc (NASDAQ:BCOV) shares crossed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $10.14 and traded as high as $10.14. Brightcove shares last traded at $10.08, with a volume of 1,904 shares traded.

A number of brokerages have commented on BCOV. Northland Securities reiterated a “buy” rating and issued a $14.00 price target on shares of Brightcove in a research note on Thursday, May 16th. BidaskClub upgraded shares of Brightcove from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 18th. Finally, Zacks Investment Research cut shares of Brightcove from a “buy” rating to a “hold” rating in a research note on Tuesday, April 30th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $12.33.

The stock has a market cap of $389.18 million, a PE ratio of -38.26 and a beta of 1.03. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.19. The business’s 50 day simple moving average is $10.16.

Brightcove (NASDAQ:BCOV) last announced its quarterly earnings results on Wednesday, April 24th. The software maker reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.02. The firm had revenue of $41.80 million during the quarter, compared to analysts’ expectations of $40.22 million. Brightcove had a negative net margin of 10.13% and a negative return on equity of 13.98%. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter last year, the company posted ($0.06) earnings per share. On average, research analysts anticipate that Brightcove Inc will post -0.13 earnings per share for the current year.

Hedge funds have recently made changes to their positions in the business. BNP Paribas Arbitrage SA lifted its stake in Brightcove by 68,190.9% in the first quarter. BNP Paribas Arbitrage SA now owns 7,512 shares of the software maker’s stock valued at $63,000 after acquiring an additional 7,501 shares during the last quarter. Marshall Wace North America L.P. bought a new position in shares of Brightcove in the first quarter valued at about $74,000. Metropolitan Life Insurance Co. NY raised its position in shares of Brightcove by 404.8% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 11,822 shares of the software maker’s stock valued at $83,000 after purchasing an additional 9,480 shares during the period. Los Angeles Capital Management & Equity Research Inc. bought a new position in shares of Brightcove in the fourth quarter valued at about $104,000. Finally, Bank of America Corp DE raised its position in shares of Brightcove by 144.2% in the fourth quarter. Bank of America Corp DE now owns 20,779 shares of the software maker’s stock valued at $146,000 after purchasing an additional 12,271 shares during the period. Hedge funds and other institutional investors own 78.87% of the company’s stock.

Brightcove Company Profile (NASDAQ:BCOV)

Brightcove Inc provides cloud-based services for video. It offers Video Cloud, an online video platform that enables its customers to publish and distribute video to Internet-connected devices. The company also provides Zencoder, a cloud-based video encoding service for file support, quality and control, speed and reliability, platform and security, and account and integration; SSAI, a cloud-based ad insertion and video stitching service; and Player, a cloud-based service for creating and managing video player experiences.

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