Brightcove (NASDAQ:BCOV) is scheduled to announce its earnings results after the market closes on Wednesday, April 24th. Analysts expect the company to announce earnings of ($0.07) per share for the quarter.
Brightcove (NASDAQ:BCOV) last issued its earnings results on Wednesday, February 13th. The software maker reported ($0.04) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by ($0.01). The business had revenue of $40.86 million during the quarter, compared to analyst estimates of $41.23 million. Brightcove had a negative return on equity of 13.67% and a negative net margin of 8.51%. The business’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period last year, the business earned $0.04 EPS. On average, analysts expect Brightcove to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.
Shares of Brightcove stock opened at $8.44 on Wednesday. The firm has a market capitalization of $315.19 million, a PE ratio of -31.26 and a beta of 1.04. Brightcove has a 12 month low of $6.88 and a 12 month high of $10.75.
In other news, CEO Jeff Ray acquired 5,000 shares of the business’s stock in a transaction that occurred on Monday, February 25th. The stock was acquired at an average cost of $8.45 per share, for a total transaction of $42,250.00. Following the completion of the acquisition, the chief executive officer now owns 25,000 shares in the company, valued at $211,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 4.90% of the stock is currently owned by company insiders.
A hedge fund recently raised its stake in Brightcove stock. Geode Capital Management LLC increased its position in shares of Brightcove Inc (NASDAQ:BCOV) by 8.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 415,943 shares of the software maker’s stock after acquiring an additional 33,707 shares during the period. Geode Capital Management LLC owned about 1.16% of Brightcove worth $2,928,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 80.03% of the company’s stock.
Several analysts have recently commented on BCOV shares. Zacks Investment Research raised Brightcove from a “hold” rating to a “buy” rating and set a $8.25 target price for the company in a research report on Wednesday, January 9th. BidaskClub raised Brightcove from a “hold” rating to a “buy” rating in a research report on Friday, February 8th. Finally, Northland Securities reaffirmed a “buy” rating on shares of Brightcove in a research report on Monday. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Brightcove has a consensus rating of “Buy” and a consensus target price of $12.35.
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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.
Further Reading: Are sell-side analysts objective?
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