Brightcove (NASDAQ:BCOV) Earns "Neutral" Rating from Rosenblatt Securities

Rosenblatt Securities reissued their neutral rating on shares of Brightcove (NASDAQ:BCOV - Free Report) in a research note published on Monday morning,Benzinga reports. They currently have a $4.45 target price on the software maker's stock, down from their previous target price of $5.00.

Several other research firms have also recently weighed in on BCOV. Lake Street Capital upgraded Brightcove from a "hold" rating to a "buy" rating and upped their target price for the stock from $2.75 to $3.50 in a research note on Tuesday, November 5th. StockNews.com cut Brightcove from a "strong-buy" rating to a "buy" rating in a report on Wednesday, November 20th.

Brightcove Price Performance

Brightcove stock traded up $1.13 during mid-day trading on Monday, reaching $4.32. 11,089,824 shares of the company were exchanged, compared to its average volume of 292,878. The company has a fifty day simple moving average of $2.43 and a 200-day simple moving average of $2.29. The firm has a market cap of $194.99 million, a PE ratio of -20.57 and a beta of 0.74. Brightcove has a 12 month low of $1.55 and a 12 month high of $4.33.

Insider Buying and Selling

In other news, major shareholder Edenbrook Capital, Llc acquired 20,000 shares of the business's stock in a transaction that occurred on Thursday, September 26th. The shares were bought at an average price of $2.07 per share, with a total value of $41,400.00. Following the acquisition, the insider now directly owns 6,651,535 shares in the company, valued at $13,768,677.45. The trade was a 0.30 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders purchased a total of 48,988 shares of company stock worth $100,789 in the last three months. 3.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Brightcove

Several large investors have recently bought and sold shares of the company. Nantahala Capital Management LLC acquired a new position in Brightcove in the 2nd quarter valued at approximately $3,114,000. First Eagle Investment Management LLC grew its stake in shares of Brightcove by 81.4% in the second quarter. First Eagle Investment Management LLC now owns 600,334 shares of the software maker's stock worth $1,423,000 after purchasing an additional 269,302 shares during the last quarter. P.A.W. Capital Corp acquired a new stake in Brightcove in the third quarter valued at $540,000. Jacobs Levy Equity Management Inc. raised its position in Brightcove by 1,124.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 245,526 shares of the software maker's stock worth $530,000 after purchasing an additional 225,482 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its holdings in Brightcove by 17.3% during the 2nd quarter. Acadian Asset Management LLC now owns 940,508 shares of the software maker's stock worth $2,227,000 after buying an additional 139,049 shares during the period. 80.12% of the stock is currently owned by institutional investors.

About Brightcove

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.